Mortgage rates moved lower after two straight weeks of increases, which should allow the housing market to remain strong as we shift into the typically slower fall months.
The 30-year fixed-rate mortgage averaged 3.64% during the week ending Sept. 26, falling nine basis points from the previous week, Freddie Mac reported Thursday. In 2019, mortgage rates have increased only 11 times on a weekly basis.
The 15-year fixed-rate mortgage dropped five basis points to an average of 3.16%, according to Freddie Mac. The 5/1 adjustable-rate mortgage averaged 3.38%, down 11 basis points.
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