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Mortgage rates did not move uniformly on September 11, 2024. The Mortgage Reports’ daily lender-network table showed increases for most listed loan programs, while its headline described rates as mostly falling and its article body reported lower average figures for 30- and 15-year fixed loans. Those are different measures, not a single national quote. Freddie Mac did not publish a weekly survey that day; its nearest readings were 6.35% for the 30-year fixed on September 5 and 6.20% on September 12.
What rates did The Mortgage Reports report on September 11?
The Mortgage Reports said it collected rates daily from lending partners and averaged comparable loan types. Its September 11 table showed the following rates and daily changes. Percentage-point changes are the publisher’s reported day-over-day movements.
| Loan program | Rate | APR | Daily change |
|---|---|---|---|
| Conventional 30-year fixed | 7.343% | 7.423% | +0.02 percentage points |
| Conventional 20-year fixed | 7.248% | 7.354% | +0.06 percentage points |
| Conventional 15-year fixed | 6.697% | 6.821% | Unchanged |
| Conventional 10-year fixed | 6.761% | 6.869% | +0.07 percentage points |
| FHA 30-year fixed | 7.113% | 7.162% | +0.09 percentage points |
| VA 30-year fixed | 7.139% | 7.195% | +0.11 percentage points |
| Conventional 5/1 adjustable-rate mortgage | 6.291% | 6.893% | +0.42 percentage points |
The same article separately said its average 30-year fixed rate “reached 6.302%” and its average 15-year fixed rate “went to 5.637%.” Those body figures are separate reported averages; the article does not establish that they use the same basis as the program table. Neither should be substituted for the table values or treated as an individual offer. The Mortgage Reports’ September 11, 2024 update identifies Paul Centopani as its editor.
Why the daily figures differ from Freddie Mac’s rates
The Mortgage Reports’ numbers were a daily lender-network snapshot. Freddie Mac’s Primary Mortgage Market Survey is a weekly measure based on lender application data and is released on Thursdays. As a result, there was no Freddie Mac survey dated September 11.
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- Loan Amortization and Remaining Balances
- Instant Principal, Interest, Interest Only and Total Payments
- Future Values
- Date math function
| Freddie Mac survey date | 30-year fixed average | 15-year fixed average | Reported movement |
|---|---|---|---|
| September 5, 2024 | 6.35% | not stated by Freddie Mac in the cited September 5 release | 30-year rate unchanged from the prior week |
| September 12, 2024 | 6.20% | 5.27% | 30-year down from 6.35%; 15-year down from 5.47% |
Freddie Mac’s September 5 release is available in its PMMS archive; its September 12 release reported the subsequent weekly readings. The schedule and survey method are described by Freddie Mac’s Primary Mortgage Market Survey. These weekly figures provide context for the week, not a same-day September 11 quote.
What market context did the September 11 report give?
The Mortgage Reports linked the day’s rate discussion to the August Consumer Price Index: it reported inflation of 2.5% year over year, below the stated 2.6% market expectation and July’s 2.9%. Around 9:50 a.m. ET, the report put the 10-year Treasury yield at 3.639%, down from 3.672%. These were contemporaneous readings and the publisher’s explanation of market pressure—not proof that one release mechanically determines mortgage rates or a promise of what rates would do next.
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The article also quoted Freddie Mac’s August 22 Mortgage Market Outlook: “The anticipation of an upcoming [Fed] rate cut is already influencing the market, leading to downward pressure on mortgage rates. As a result, we forecast mortgage rates to gradually decline in the coming quarters.” This was Freddie Mac’s forecast as quoted by The Mortgage Reports, not a guaranteed outcome. The publisher cautioned that market indicators are rough guides and rates can move intraday.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How to use historical average rates when shopping for a loan
A published average is useful for context, but it cannot tell you what a lender will offer you. The Mortgage Reports notes that its rates may not reflect the broader market or an individual borrower’s offer. Lenders set actual quotes using prevailing rates and borrower-specific details, including credit. To compare offers, obtain personalized estimates and line up the same loan type and term.
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- Compare the interest rate and APR together; APR gives a broader cost measure than the rate alone.
- Review points and fees in the actual loan estimates. The daily table does not establish your offer’s fees.
- For an adjustable-rate mortgage, weigh its initial rate against the possibility of payment changes; a fixed-rate loan has a different payment-risk profile.
- Consider how long you expect to keep the home or loan when assessing upfront costs and the value of a lower rate.
These figures are dated September 2024 and should not be read as current 2026 mortgage rates. Mortgage pricing changes, and only a current personalized quote can establish the terms available to a particular borrower.
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- SPEAKS YOUR LANGUAGE: Keys clearly labeled in residential mortgage finance terms like Loan Amt, Int, Term, Pmt; this industry-standard calculator is super easy to use on all realty financing matters from finding a loan that works for your client to considering trust deeds investments, or finding remaining balances or balloon payments and more
- CONFIDENTLY AND EASILY SOLVE: Clients' financial questions whether they're buyers, sellers, investors or renters. Increase your perceived professionalism as a new agent, experienced broker or seasoned loan officer. Close more home sales and impress your clients with fast, accurate answers to all their real estate finance questions from PITI Payments to IRR, NPV and Cashflows
- DEDICATED BUYER QUALIFYING KEYS: Enter client's income, debt and expenses to pre-qualify them to only show properties they can afford. Include tax, insurance and mortgage insurance then compare loan options and payment solutions to give your client choices before they make an offer to buy
- FIGURE OUT THE RIGHT LOAN: For your client at the press of a button for jumbo, conventional, FHA/VA, or even 80:10:10 or 80:15:5 combo loans; check to see if ARMs or bi-weekly loans, quarterly payments or if interest-only payments are the answer; giving your client more choices; easily perform what if loan or TVM calculations find loan amount, term, interest or PITI or PI payments
- BECOME AN INVALUABLE RESOURCE: To your clients by reducing their confusion and uncertainty; ensuring they are able to make a purchase offer; knowing they can afford the down payment; and determining which is the right loan for them. Date-math for listings and contracts too. Comes with a protective slide cover, quick reference guide, pocket user's guide, and long-life battery
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