Mortgage Rates Edged Higher This Week

The 30-year fixed-rate mortgage averaged 3.89 percent this week, up slightly from 3.84 percent last week, on the heels of global economic turmoil and a lack of new information on The Federal Reserve’s next rate meeting. Mortgage rates are still well below their levels of a year ago.

Freddie Mac reports the following national averages for the week ending Sept. 3:

  •     30-year fixed-rate mortgage averaged 3.89 percent with an average 0.6 point, up from last week when it averaged 3.84 percent. Last year, the 30-year rates averaged 4.10 percent.
  •     15-year fixed-rate mortgage averaged 3.09 percent with an average 0.6 point, up from last week from the 3.06 percent average. Last year, 15-year fixed-rate mortgages averaged 3.24 percent.
  •     5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.93 percent with an average 0.4 point, up from last week’s average of 2.90 percent. Last year, the 5-year adjustable-rate mortgage averaged 2.97 percent.

Source: FreddieMac