|By Marketwired .||
|July 31, 2014 10:00 AM EDT|
MCLEAN, VA -- (Marketwired) -- 07/31/14 -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage once again showing very little change while remaining near their 2014 lows prior to a better than expected second quarter gross domestic product reading.
- 30-year fixed-rate mortgage (FRM) averaged 4.12 percent with an average 0.6 point for the week ending July 31, 2014, down from last week when it averaged 4.13 percent. A year ago at this time, the 30-year FRM averaged 4.39 percent.
- 15-year FRM this week averaged 3.23 percent with an average 0.7 point, down from last week when it averaged 3.26 percent. A year ago at this time, the 15-year FRM averaged 3.43 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.01 percent this week with an average 0.5 point, up from last week when it averaged 2.99 percent. A year ago, the 5-year ARM averaged 3.18 percent.
- 1-year Treasury-indexed ARM averaged 2.38 percent this week with an average 0.4 point, down from last week when it averaged 2.39 percent. At this time last year, the 1-year ARM averaged 2.64 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 links for the Regional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey.
Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.
"Mortgage rates were little changed this week with the 30-year fixed-rate mortgage rate at 4.12 percent, just a basis point lower from the previous week. Meanwhile, on Wednesday afternoon the yield on the 10-year Treasury surged as data showed gross domestic product for the second quarter at a 4.0 percent annualized rate, above expectations."
Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four home borrowers and is one of the largest sources of financing for multifamily housing. Additional information is available at FreddieMac.com, Twitter @FreddieMac and Freddie Mac's blog FreddieMac.com/blog.
Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2649094
Jul. 25, 2016 06:00 PM EDT Reads: 2,392
Jul. 25, 2016 06:00 PM EDT Reads: 2,070
Jul. 25, 2016 06:00 PM EDT Reads: 1,407
Jul. 25, 2016 05:30 PM EDT Reads: 736
Jul. 25, 2016 04:38 PM EDT Reads: 155
Jul. 25, 2016 04:00 PM EDT Reads: 993
Jul. 25, 2016 03:45 PM EDT Reads: 943
Jul. 25, 2016 03:30 PM EDT Reads: 1,684
Jul. 25, 2016 03:15 PM EDT Reads: 417
Jul. 25, 2016 03:00 PM EDT Reads: 1,969
Jul. 25, 2016 02:45 PM EDT Reads: 859
Jul. 25, 2016 02:30 PM EDT Reads: 866
Jul. 25, 2016 02:00 PM EDT Reads: 956
Jul. 25, 2016 01:15 PM EDT Reads: 1,911
Jul. 25, 2016 01:00 PM EDT Reads: 1,930