Mortgage rates were little changed ahead of the Federal Reserve’s key rate decision next week, mortgage buyer Freddie Mac said Thursday. The 30-year fixed rate mortgage averaged 3.90% in the week ending Sept. 10, up from 3.89. The 15-year fixed-rate mortgage averaged 3.10%, up from 3.09%, and the 1-year Treasury-indexed adjustable rate mortgage averaged 2.63%, up from 2.62%. The 5-year Treasury-indexed hybrid ARM averaged 2.91%, down from 2.93%.
Median Lease: $1,250 vs $1,295, Month-over-Month -3.47%
Average Lease: $1,425 vs $1,449, Month-over-Month -1.66%
Average Days on Market: 27 vs 26, Month-over-Month +3.85%
Rent Check Quotient™: 2:5 vs 2:5, Month-over-Month Flat
Closed Rental: 2,883 vs 3,144, Month-over-Month -8.30%
Rental market has been strong this year until August. Year-over-Year it is 650 lease less for the month of August. However, it is still above Y-T-D average of 2,790.
All above stats are for single family homes rentals. Condominium and apartment rentals are not included.