Based on Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 7.31 percent as of September 28, 2023.
"The 30-year fixed-rate mortgage has hit the highest level since the year 2000," said Sam Khater, Freddie Mac's Chief Economist. "However, unlike the turn of the millennium, house prices today are rising alongside mortgage rates, primarily due to low inventory. These headwinds are causing both buyers and sellers to hold out for better circumstances."
Freddie Mac News Facts: