Average fixed mortgage rates moved lower amid signs of a weakening economic recovery, which in part also prompted the Federal Reserve to continue its bond buying program, according to Freddie Mac. Mortgage rates have increased more than one percentage point since early May when speculation about Fed tapering began.

Thirty-year fixed-rate mortgage averaged 4.50 percent for the week ending Sept. 19, down from last week when it averaged 4.57 percent. A year ago at this time, the 30-year rate averaged 3.49 percent.

The 15-year fixed-rate mortgage this week averaged 3.54 percent, down from last week when it averaged 3.59 percent. A year ago at this time, the 15-year rate averaged 2.77 percent. 

Freddie Mac: Average 30-Year Fixed Mortgage Declines To 4.5 Percent

by Banker & Tradesman time to read: <1 min
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