U.S. Mortgage Rates Uptick in Early October

Freddie Mac's latest Primary Mortgage Market Survey shows that the 30-year fixed-rate mortgage in the U.S. averaged 3.65 percent, a slight increase from last week. While mortgage rates generally held steady this week, overall mortgage demand remained very strong, rising over fifty percent from a year ago thanks to increases in both refinance and purchase mortgage applications, said Sam Khater, Freddie Mac's Chief Economist. As economic growth decelerates, it is clear that low mortgage rates will continue to support the mortgage market and we expect that to persist for the remainder of the year.