Over the last several months, mortgage originations have slowed down considerably, even as rates have largely hovered at extremely affordable levels. Once again this week, there was no appreciable change for all of the most popular home loan types, as they remained more or less near the lowest levels seen this year across the board.

There was, for instance, no change in the average rates for 30-year fixed home loans in the seven-day period ending September 4, according to the latest Primary Mortgage Market Survey from the government-sponsored mortgage-backing enterprise Freddie Mac. This loan type held steady at 4.1 percent, and was also down from the 4.57 percent seen in the same week a year earlier.

However, there was a slight drop in rates for 15-year FRMs – which tend to be utilized to refinance existing mortgages – which fell to 3.24 percent from 3.25 percent a week earlier, the report said. That number is also down considerably from the 3.59 percent in the same week in 2013.

"Mortgage rates were little changed amid a week of light economic reports," said Frank Nothaft, vice president and chief economist at Freddie Mac. "The 30-year fixed-rate mortgage rate remained unchanged from the previous week at 4.10 percent. Of the few releases, the ISM's manufacturing index rose to 59.0 in August from 57.1 the previous month. This was the highest reading of the index since March 2011."

Adjustable-rate changes less positive
Meanwhile, there was likewise no change in the rates for five-year Treasury-indexed hybrid adjustable mortgages, the report said. These held steady at 2.97 percent this week, but that was also down from 3.28 percent on an annual basis.

Finally, one-year Treasury ARMs actually ticked upward this week, albeit very slightly, the report said. In all, they rose just a single basis point to 2.4 percent from the previous week's 2.39 percent. As with all the other kinds of major home loans examined, that number was likewise down appreciably, from 2.71 in the same week last year.

However, it should be noted that even as affordability remains quite high, consumers are still somewhat wary of this fact because they grew used to rates in the 3 percent range. Experts say that this kind of deal isn't likely to be around much longer, as rates – and home values – could spike within the next year, further driving up buying costs.