Mortgage Rates Down Again

Mortgage rates are at their lowest levels since late May, according to Freddie Mac’s latest Weekly Primary Mortgage Market Survey. For the week ending September 3, 2009, the average rate on a 30-year fixed-rate mortgage was 5.08% with 0.7% fees and points. A year ago, the average rate on the same mortgage was 6.04%.

Mortgage rates are one of the main reasons that housing sales are starting to improve. Combined with lower home prices, these rates have greatly increased affordability. Buyers have responded by moving sales of homes in Thurston County up 12.2% in August 2009 compared to year ago numbers.

Source: http://www.freddiemac.com/pmms/#Historical



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