General World News

Mortgage rates stuck in a rut at 2.87%

The average 30-year fixed-rate mortgage was flat at 2.87% for the week ending in Sept. 2, according to mortgage rates data released Thursday by Freddie Mac‘s PMMS.

The week prior, mortgage rates also held steady at 2.87%. This week’s near constant mortgage rates tracked with the 10-year Treasury yield, which has hovered around 1.30 for the past week. The 10-year Treasury yield for Sept. 1 was 1.31.

According to Sam Khater, chief economist at Freddie Mac, mortgage rates have held steady as economic growth and rising prices in goods have cooled. He predicted that details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com