PHM - Mortgage rates report marginal growth housing market outlook choppy

Freddie Mac chief economist Sam Khater believes that economic growth slowdown has led to a rise in foreign investor purchases of U.S. Treasuries thereby leading mortgage rates to remain in place despite increasing dispersion of inflation across different consumer goods and services. 30-year fixed-rate mortgage averaged 2.88% for the week ending Sep 23, up from 2.86% in prior week and down from 2.90% averaged in same period a year ago, according to the Freddie Mac Primary Mortgage Survey. 15-year FRM averages 2.15% up from last week when it averaged 2.12% and down from 2.40% in year ago. 5-year Treasury-indexed hybrid adjustable rate mortgage averaged 2.43%, down from 2.51% in prior week, and lower from 2.90% a year ago. "On the housing front, homebuyers continue to snap up available inventory, which has improved modestly, and home price growth is moderating. However, the next few months will be choppy as several home builders are signaling that they

For further details see:

Mortgage rates report marginal growth, housing market outlook choppy