Mortgage Rates Remain Relatively Flat as Economy Loses Momentum: Freddie Mac

For mortgage borrowers, the recent drop in Treasury yields is likely to translate to a downtick in mortgage rates. Dreamstime.com/TNS

Mortgage rates remain relatively flat as the economy has lost momentum amid the COVID-19 pandemic, according to the latest results of Freddie Mac’s Primary Mortgage Market Survey.

According to the data released Thursday by the federally chartered mortgage investor, the rate on a 30-day fixed-rate mortgage averaged 2.88 percent for the week ending Sept. 9, up slightly from 2.87 percent last week and higher than the 2.86 percent rate it averaged a year ago.