Low Mortgage Rates Spur Refinancing

Average fixed mortgage rates moved slightly lower for the week. helping to spur ongoing refinance activity, according to Freddie Mac’s recently released Primary Mortgage Market Survey® (PMMS®).
The 30-year fixed-rate mortgage (FRM) averaged 3.44 percent with an average 0.6 point for the week ending September 8, 2016, down from last week when it averaged 3.46 percent. A year ago at this time, the 30-year FRM averaged 3.90 percent.
The 15-year FRM this week averaged 2.