MCLEAN, Va., Jan. 17, 2019 (GLOBE NEWSWIRE) -- Freddie Mac (FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that rates remained flat after dropping for six consecutive weeks.
Sam Khater, Freddie Mac’s chief economist, says, “Weaker manufacturing data and a more dovish tone from the Federal Reserve left mortgage rates unchanged relative to last week. However, interest rate-sensitive sectors of the economy – such as consumer mortgage demand and homebuilder construction sentiment – are on the mend, which indicates that lower interest rates are beginning to have a positive impact on some segments of the economy.”
- 30-year fixed-rate mortgage (FRM) averaged 4.45 percent with an average 0.4 point for the week ending January 17, 2019, unchanged from last week. A year ago at this time, the 30-year FRM averaged 4.04 percent.
- 15-year FRM this week averaged 3.88 percent with an average 0.4 point, down from last week when it averaged 3.89 percent. A year ago at this time, the 15-year FRM averaged 3.49 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.87 percent with an average 0.3 point, up from last week when it averaged 3.83 percent. A year ago at this time, the 5-year ARM averaged 3.46 percent.
Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following link for the Definitions. Borrowers may still pay closing costs which are not included in the survey.
Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we’ve made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders, investors and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.