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On the radar: Freddie Mac mortgage rates down again as of September 5 report

Freddie Mac reported mortgage rates down again as of September 5.

The 30-year fixed rate was down 9 basis points to 3.49%, its lowest since 3.47% in the October 27, 2016 week.

The 15-year fixed rate was down 6 basis points to 3.00%, its lowest since 2.88% in the November 10, 2016 week.

The rate for a 5/1-year ARM was 3.30%, its lowest since 3.22% in the November 23, 2017 week.

Rates were a sharp drop at the start of September from August, reaching three-year lows. The housing market is struggling as consumers weigh the benefits of rates and affordability against the possibility of a recession.

 

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