By Matt Grossman

 

Mortgage rates were nearly flat in the latest week, according to Freddie Mac's latest survey.

For the week ended Thursday, the rate on a 30-day fixed rate mortgage averaged 2.87%, flat from last week and lower than the 2.93% average a year earlier.

Rates on 15-year fixed-rate mortgages averaged 2.18%, up from 2.17% in the previous week. Fifteen-year rates averaged 2.42% a year earlier, according to Freddie Mac.

Five-year Treasury-indexed hybrid adjustable-rate mortgages, or ARMs, on average stood at 2.43%, up from 2.42% last week and lower than the 2.93% rate a year earlier.

Freddie Mac Chief Economist Sam Khater said that moderating economic growth and inflation have helped rates stabilize.

 

Write to Matt Grossman at matt.grossman@wsj.com

 

(END) Dow Jones Newswires

September 02, 2021 10:14 ET (14:14 GMT)

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