Mortgage Giant, Freddie Mac released this weeks Prime Mortgage Market Survey (PMMS) showing the average mortgage
rates on a fixed rate mortgage rising for the second week!

The surveys reveals the following:

30-year fixed-rate mortgage (FRM) averaged 3.91 percent with an average 0.6 point for the week ending September 17, 2015,
showing a rise from last week when it averaged 3.90 percent.

15-year FRM this week averaged 3.06 percent with an average 0.6 point, showing a slight incline from last week when it
averaged 3.10 percent.

5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.92 percent this week with an average 0.5
point, up from last week when it averaged 2.91 percent.

1-year Treasury-indexed ARM averaged 2.56 percent this week with an average 0.2 point, down from last week when it
averaged 2.63 percent.

The Fed announced on Thursday that they have decided to keep interest rates at recorded lows due to a weak global
economy. However, according to Janet Yellen, Fed Chair, a rate hike is still likely this year. The Fed has kept it's key
short-term rate at a record low near zero since the financial crisis hit years ago. A rate hike could bring higher rates for
home loans.

To calculate average mortgage rates, Freddie Mac surveys lenders across the country at the beginning of each week. The
average doesn't include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point
equals 1 percent of the loan amount.