According to Freddie Mac, the 30-year fixed-rate mortgage averaged 2.88% in the week ending September 23, up from 2.86% the prior week and back at the same level as the week before that.
“The slowdown in economic growth around the world has caused a flight to the quality of the U.S. financial markets,” said Freddie Mac chief economist Sam Khater, in a statement. “This has led to a rise in foreign investor purchases of U.S. Treasuries, causing mortgage rates to remain in place, despite the increasing dispersion of inflation across different consumer goods and services.”