Fixed mortgage rates fell to a nine-week low this past week, following the Federal Reserve’s announcement that it will maintain its bond-buying program to keep homebuyer affordability elevated.
The 30-year, fixed-rate mortgage posted its lowest level since the week ending July 25. The 30-year, FRM came in at 4.32%, down from 4.50% last week, but up from 3.40% last year, Freddie Mac said in its Primary Mortgage Market Survey.
The 15-year, FRM decreased to 3.37%, down from 3.54% last week and a steep rebound from 2.73% last year.
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