MCLEAN, Va. - The average rate for a 30-year fixed-rate mortgage was 7.94% for the week that ended Sept. 8, down 2 basis points from the previous week and up 6 from the year-earlier period, according to Freddie Mac's weekly survey.

The average rate for a 15-year fixed-rate mortgage was 7.65%, down 2 basis points from the prior week and up 16 from the year-earlier period.

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