Freddie Mac's results of its Primary Mortgage Market Survey® shows that "Mortgage rates continue to linger above seven percent as the Federal Reserve paused their interest rate hikes. Given these high rates, housing demand is cooling off and now homebuilders are feeling the effect. Builder sentiment declined for the first time in several months and construction levels have dipped to a three-year low, which could have an impact on the already low housing supply."
• 30-year fixed-rate mortgage (FRM) averaged 7.23 percent for the week ending September 21, 2023, up from last month when it averaged 7.23 percent. A year ago, at this time, the 30-year FRM averaged 6.29 percent.
• 15-year FRM this week averaged 6.55 percent, up from last month when it averaged 6.55 percent. A year ago, at this time, the 15-year FRM averaged 5.44 percent.