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Every little bit helps! According to Freddie Mac today: The 30-Year Fixed-Rate Mortgage Decreases MCLEAN, Va., Aug. 31, 2023 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 7.18 percent. “Mortgage rates leveled off this week but remain elevated. Despite continued high rates, low inventory is keeping house prices steady,” said Sam Khater, Freddie Mac’s Chief Economist. “Recent volatility makes it difficult to forecast where rates will go next, but we should have a better gauge in September as the Federal Reserve determines their next steps regarding interest rate hikes.” News Facts 30-year fixed-rate mortgage averaged 7.18 percent as of August 31, 2023, down from last week when it averaged 7.23 percent. A year ago at this time, the 30-year FRM averaged 5.66 percent. 15-year fixed-rate mortgage averaged 6.55 percent, unchanged from last week. A year ago at this time, the 15-year FRM averaged 4.98 percent.