Mortgage & Housing
30-Year Mortgage Holds at 6.66% as Markets Price In a September Rate Hike
via Freddie Mac
The 30-year fixed-rate mortgage averaged 6.66% in Freddie Mac's August 27 survey, fractionally above 6.65% the prior week, while the 15-year rate edged up to 5.98%. Rates have pulled back from a mid-August high of 6.69% but remain above where they stood a year ago.
Why it matters
With bond markets now pricing in a September Fed rate hike, buyers who lock in a rate before the September 16 meeting could avoid paying a higher rate for the life of their loan.


