Freddie Mac said the average rate on 30-year fixed-rate mortgage decreased to 7.88% for the week ended Sept. 22, down from 7.94% last week.

In the 15-year sector, fixed-rate mortgages decreased to 7.60%, down from the prior week's 7.65%. A year ago, the rate was 7.43%.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.