Fixed Mortgage Rates Move Up
March 27 2014 - 10:00AM
Marketwired
Fixed Mortgage Rates Move Up
MCLEAN, VA--(Marketwired - Mar 27, 2014) - Freddie Mac (OTCQB:
FMCC) today released the results of its Primary Mortgage Market
Survey® (PMMS®), showing average fixed mortgage rates up a bit from
last week, applying additional pressure for those local markets
that are already feeling an affordability pinch.
News Facts
- 30-year fixed-rate mortgage (FRM) averaged 4.40 percent with an
average 0.6 point for the week ending March 27, 2014, up from last
week when it averaged 4.32 percent. A year ago at this time, the
30-year FRM averaged 3.57 percent.
- 15-year FRM this week averaged 3.42 percent with an average 0.6
point, up from last week when it averaged 3.32 percent. A year ago
at this time, the 15-year FRM averaged 2.76 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM)
averaged 3.10 percent this week with an average 0.5 point, up from
last week when it averaged 3.02 percent. A year ago, the 5-year ARM
averaged 2.68 percent.
- 1-year Treasury-indexed ARM averaged 2.44 percent this week
with an average 0.4 point, down from last week when it averaged
2.49 percent. At this time last year, the 1-year ARM averaged 2.62
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.
Quotes Attributed to Frank Nothaft, vice president and chief
economist, Freddie Mac.
"Mortgage rates rose following the uptick on the 10-year
Treasury note after comments by the Federal Reserve Board Chair
Janet Yellen indicated a possible increase in interest rates as
soon as early 2015. Also, the S&P/Case-Shiller® 20-city
composite house price index rose 13.2 percent over the 12-months
ending in January 2014."
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. For
more information please visit www.FreddieMac.com and Twitter:
@FreddieMac.
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