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Mortgage Rates Stay Above 7% for Third Straight Week

Monday, Sep 04 2023
Lending
Written by  The Mortgage Leader

U.S. long-term mortgage rates have slipped but remained above 7% for a third week in a row. So reports CNN.

arrow 24112 640 smallAccording to Freddie Mac, the 30-year fixed-rate mortgage averaged 7.18% as of August 31, down from 7.23% a week earlier.

Sam Khater, Freddie Mac’s chief economist, said in a statement that the rate forecast should become clearer in September as the Federal Reserve decides on the path of interest rates.

Read the full article from CNN.

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