Intermediary mortgage lender Freddie Mac has released the results of its Primary Mortgage Market Survey in which the 30-year fixed-rate mortgage (FRM) averaged 5.83 per cent, with an average 0.8 points, for the week ending September 9th.This represented an increase from last week when it averaged 5.77 per cent. Last year at this time, the 30-year FRM averaged 6.44 per cent.The average for the 15-year FRM this week is 5.22 per cent, with an average 0.8 points, also up from last week when it averaged 5.15 per cent.

A year ago, the 15-year FRM averaged 5.77 per cent.Freddie Mac believes significant job growth has helped spur mortgages “August’s 144,000-job gain, combined with a 41,000 upward revision for July, signalled a strengthening economy and helped push mortgage rates up slightly this week,” said Frank Nothaft, Freddie Mac vice president and chief economist. However, Fed Chairman Greenspan’s testimony to Congress yesterday outlined a less robust economy than he previously had portrayed, offsetting some of the interest rate increase.