Fixed Mortgage Rates Tick Down
April 10 2014 - 10:00AM
Marketwired
Fixed Mortgage Rates Tick Down
MCLEAN, VA--(Marketwired - Apr 10, 2014) - Freddie Mac (OTCQB:
FMCC) today released the results of its Primary Mortgage Market
Survey® (PMMS®), showing average fixed mortgage rates moving down
slightly as we head into the spring homebuying season.
News Facts
- 30-year fixed-rate mortgage (FRM) averaged 4.34 percent with an
average 0.7 point for the week ending April 10, 2014, down from
last week when it averaged 4.41 percent. A year ago at this time,
the 30-year FRM averaged 3.43 percent.
- 15-year FRM this week averaged 3.38 percent with an average 0.6
point, down from last week when it averaged 3.47 percent. A year
ago at this time, the 15-year FRM averaged 2.65 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM)
averaged 3.09 percent this week with an average 0.5 point, down
from last week when it averaged 3.12 percent. A year ago, the
5-year ARM averaged 2.62 percent.
- 1-year Treasury-indexed ARM averaged 2.41 percent this week
with an average 0.5 point, down from last week when it averaged
2.45 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 eased a bit following the decline in 10-year
Treasury yields. Also, the economy added 192,000 jobs in March,
which was below the market consensus forecast but followed an
upward revision of 22,000 jobs in February. Meanwhile, the
unemployment rate held steady at 6.7 percent."
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.
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