Mortgage Rates Inch Up from their 3-Year Lows, Says Freddie Mac

September 2, 2019 Loans & Mortgages 0

According to the FreddieMac Primary Mortgage Market Survey, U.S. mortgage rates inched up slightly from their recent three-year lows.

However, rates are significantly lower than those of last year as concerns grow over the future of the housing market and the overall economy against a backdrop of a heating trade war with China.

  • 30-Year Fixed Mortgage (FRM): Averaged 3.58 percent, up from last week when it averaged 3.55 percent. A year ago at this time, the 30-year FRM averaged 4.52 percent.
  • 15-Year Fixed Mortgage: Averaged 3.06 percent, up from last week when it averaged 3.03 percent. A year ago at this time, the 15-year FRM averaged 3.97 percent.
  • 5-Year Adjustable-Rate Mortgage (ARM): Averaged 3.31 percent, slightly down from last week when it averaged 3.33 percent. A year ago at this time, the 5-year ARM averaged 3.85 percent.