August 23rd, 2021 10:49 AM by Jackie A. Graves
The 30-year fixed-rate mortgage held near last week’s average and continues to average near historical lows and under 3%.
“Mortgage rates stayed relatively flat this week,” says Sam Khater, Freddie Mac’s chief economist. “Housing is in a similar phase of the economic cycle as many other consumer goods. While there is strong latent demand, low supply has caused prices to rise as shortages restrict the amount of sales activity that otherwise would occur.”
Freddie Mac reports the following national averages with mortgage rates for the week ending Aug. 19:
Freddie Mac reports average commitment rates along with points to better reflect the total upfront cost of obtaining a mortgage.
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