The average 30-year-fixed mortgage rose, ever so slightly, to 2.88% for the week ending Sept. 23, according to Freddie Mac‘s latest PMMS survey. Mortgage rates have been roughly flat for months now.
“The slowdown in economic growth around the world has caused a flight to the quality of the U.S. financial markets,” said Sam Khater, Freddie Mac’s chief economist. “This has led to a rise in foreign investor purchases of U.S. Treasuries, causing mortgage rates to remain in place, despite the increasing dispersion of inflation across different consumer goods and services.”
Khater said that homebuyers are soaking up all available inventory, which details ⇒
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