Freddie Mac's results of its Primary Mortgage Market Survey® shows that "Mortgage rates fell again this week due to expectations of a Fed rate cut. Rates are expected to continue their decline and while potential homebuyers are watching closely, a rebound in purchase activity remains elusive until further declines are seen."

• 30-year fixed-rate mortgage (FRM) averaged 6.35 percent for the week ending August 29, 2024, down from last month when it averaged 6.78 percent. A year ago, at this time, the 30-year FRM averaged 7.18 percent.

• 15-year FRM this week averaged 5.51 percent, down from last month when it averaged 6.07 percent. A year ago, at this time, the 15-year FRM averaged 6.55 percent.