Freddie Mac: Mortgage Rates Basically Flat

Posted by Patrick Barnard on June 04, 2015 No Comments
Categories : Residential Mortgage

Mortgage rates more or less stayed flat during the week ended June 4, compared to the previous week, according to Freddie Mac's Primary Mortgage Market Survey.

The average rate for a 30-year fixed-rate mortgage (FRM) was 3.87%, unchanged from the previous week. A year ago at this time, the 30-year FRM averaged 4.14%.

The average rate for a 15-year FRM was 3.08%, down from 3.11% the previous week. A year ago at this time, the 15-year FRM averaged 3.23%.

The average rate for a five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) was 2.96%, up from 2.90% the week prior. A year ago, the five-year ARM averaged 2.93%.

The average rate for a one-year Treasury-indexed ARM was 2.59%, up from 2.50% the week prior. At this time last year, the one-year ARM averaged 2.40%.

All rates are based on closings.

‘Mortgage rates were little changed for the week following mixed economic data before bond yields began moving higher Wednesday afternoon,’ says Len Kiefer, deputy chief economist for Freddie Mac, in a release. ‘Although real GDP growth was revised down to a negative 0.7 percent annualized rate, the Institute for Supply Management reported a modest growth in the manufacturing sector in May. If the Wednesday surge of treasury yields persists, the impact on mortgage rates is likely to result in a bout of affordability shock to many housing markets across the country.’

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Freddie Mac: Mortgage Rates Basically Flat

Posted by Patrick Barnard on April 02, 2015 No Comments
Categories : Residential Mortgage

Mortgage rates held more or less flat during the week ended April 2, according to Freddie Mac's Primary Mortgage Market Survey.

Fixed rates were largely calm amid mixed economic and housing data and ahead of the Friday employment report for March.

The average rate for a 30-year fixed-rate mortgage (FRM) was 3.70%, up slightly from 3.69% the previous week. A year ago at this time, the 30-year FRM averaged 4.41%.

The average rate for a 15-year FRM was 2.98%, up slightly from 2.97%. A year ago at this time, the 15-year FRM averaged 3.47%.

The average rate for a five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) was 2.92%, unchanged compared to the previous week. A year ago, the five-year ARM averaged 3.12%.

The average rate for a one-year Treasury-indexed ARM was 2.46%, also unchanged from the previous week. At this time last year, the one-year ARM averaged 2.45%.

‘Mortgage rates were little changed this week entering April about where we started the year,’ says Len Kiefer, deputy chief economist for Freddie Mac, in a release. ‘The final estimate of real GDP growth for the fourth quarter of 2014 was unchanged from the prior estimate of a 2.2 percent annualized rate.

‘Meanwhile, the National Association of Realtors reported that pending home sales rose 3.1 percent in February, beating expectations,’ Kiefer adds. ‘The pending home sales index was at the highest level since June of 2013 when 30-year fixed mortgage rates averaged 4.07 percent, 0.37 percentage points higher than this week's survey.’

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Freddie Mac: Mortgage Rates Basically Flat

Posted by Patrick Barnard on October 03, 2014 No Comments
Categories : Residential Mortgage

Rates for certain loan types were down while others were flat during the week ending Oct. 2, according to Freddie Mac's Primary Mortgage Market Survey. Overall, rates were basically flat for the week.

The average rate for a 30-year fixed-rate mortgage (FRM) was 4.19%, down slightly from 4.20% the previous week. A year ago at this time, the 30-year FRM averaged 4.22%.

The average rate for a 15-year FRM was 3.36%, unchanged from the previous week. A year ago at this time, the 15-year FRM averaged 3.29%.

The average rate for a five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) was 3.06%, down from 3.08% the week prior. A year ago, the five-year ARM averaged 3.05%.

The average rate for a one-year Treasury-indexed ARM was 2.42%, down slightly from 2.43%. At this time last year, the one-year ARM averaged 2.64%.

‘Mortgage rates were flat to slightly down across the board as GDP was revised up from 4.2 percent to 4.6 percent for the second quarter, and the S&P/Case-Shiller National House Price Index was up a seasonally adjusted 0.2 percent for July and up 5.6 percent from the prior July,’ says Frank Nothaft, vice president and chief economist for Freddie Mac, in a release. ‘Pending home sales data were less optimistic, though, down one percent in August.’

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