Mortgage Rates Land Near 2016 Low

Average fixed mortgage rates declined after nudging slightly higher for three consecutive weeks, according to the recently released Freddie Mac Primary Mortgage Market Survey® (PMMS®).
The 30-year fixed-rate mortgage (FRM) averaged 3.43 percent with an average 0.5 point for the week ending August 4, 2016, down from last week when it averaged 3.48 percent. A year ago at this time, the 30-year FRM averaged 3.91 percent.
Additionally, the 15-year FRM this week averaged 2.74 p