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Mortgage Rates Unchanged This Week

  • September 5th 2024

by UrbanTurf Staff

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Mortgage rate chart_09-05-24.png

After falling for several weeks in a row, long-term mortgage rates were unchanged this week. 

On Thursday, Freddie Mac reported 6.35% as the average on a 30-year mortgage, the same rate as last week.  A year ago, long-term rates were at 7.12%

“Even though rates have come down over the summer, home sales have been lackluster," said Sam Khater, Freddie Mac’s Chief Economist. "On the refinance side however, homeowners who bought in recent years are taking advantage of declining mortgage rates in order to lower their monthly payments.”

The UrbanTurf Mortgage Rate Disclaimer: The rates reported by Freddie Mac for 30-year mortgages are usually the best rates that the most qualified borrowers can get, so borrowers or those considering refinancing should not necessarily read this news and think that they can go out and get a loan with the quoted interest rate.

See other articles related to: interest rates, mortgage rates

This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_rates_unchanged_this_week/22678.

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