Mortgage Rates Remain Flat

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Mortgage rates held steady in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC).

The 30-year fixed-rate mortgage averaged 6.58% as of Aug. 21, unchanged from last week. A year ago at this time, it averaged 6.46%.

The 15-year fixed-rate mortgage averaged 5.69%, down slightly from last week when it averaged 5.71%. A year ago at this time, it averaged 5.62%.

“The 30-year fixed-rate mortgage remained flat this week,” said Sam Khater, Freddie Mac’s chief economist. “Over the summer, rates have come down and purchase applications are outpacing 2024, though a number of homebuyers continue waiting on the sideline for rates to further decrease.”