Residential mortgage interest rates continue to drop, creating a window for homebuyers.
The 30-year fixed-rate mortgage averaged 6.35%, according to the Primary Mortgage Market Survey released by Freddie Mac (OTCQB: FMCC) on Sept. 11, marking a notable decline.
“The 30-year fixed-rate mortgage fell 15 basis points from last week, the largest weekly drop in the past year,” said Sam Khater, Freddie Mac’s chief economist. “Mortgage rates are headed in the right direction, and homebuyers have noticed, as purchase applications reached the highest year-over-year growth rate in more than four years.”
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