âThe slowdown in economic growth around the world has caused a flight to the quality of
Khater continued, âOn the housing front, buyers continue to grab available inventory, which has improved slightly, and home price growth is moderating. However, the next few months will be hectic as several home builders report they will provide less supply due to labor and material shortages. “
- 30-year fixed rate mortgage averages 2.88% with an average of 0.7 points for the week ending
September 23, 2021, up slightly from last week when it averaged 2.86%. Around the same time a year ago, the 30-year FRM was on average 2.90%.
- The 15-year fixed-rate mortgage averaged 2.15% with an average of 0.6 percentage points, up from last week when it averaged 2.12%. Around the same time a year ago, the 15-year FRM averaged 2.40%.
- 5 years
Treasury– indexed hybrid mortgage loan at adjustable rate (ARM) was on average 2.43% with an average of 0.3 points, down from last week when it averaged 2.51%. A year ago at this time, the 5-year MRA was on average 2.90%.
PMMS focuses on conventional, compliant, fully amortizing home purchase loans for borrowers who have put 20% down and have excellent credit. Average engagement rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following link for definitions. Borrowers can still pay closing costs that are not included in the survey.
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