Freddie Mac's latest Primary Mortgage Market Survey is reporting this week that the average fixed mortgage rate in the U.S. is moving slightly lower for the week helping to spur ongoing refinance activity.
Sean Becketti, chief economist of Freddie Mac, "The 30-year fixed-rate mortgage fell 2 basis points to 3.44 percent this week. As mortgage rates continue to range between 3.41 and 3.48 percent, many are taking advantage of the historically low rates by refinancing. Since the Brexit vote, the refinance share of mortgage activity has remained above 60 percent."
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