Mortgage rates saw a slight uptick for the week ending August 26th, according to Freddie Mac’s weekly survey…(Freddie Mac)
- 30-YR FIXED: Increased by 1 basis point to average 2.87%. A year ago at this time, the 30-year FRM averaged 2.91%.
- 15-YR FIXED: Increased by 1 basis point to averaged 2.17&. A year ago at this time, the 15-year FRM averaged 2.46 %.
Sam Khater, Freddie Mac’s Chief Economist, says that oppturnities are still there for those looking to refi or purchase, but would be buyers are still facing inventory issues…
- “Overall, rates continue to be low, with a window of opportunity for those who did not refinance under three percent. From a homebuyer perspective, purchase application demand is improving, but the major obstacle to higher home sales remains very low inventory for consumers to purchase.”