Fixed Mortgage Rates Tick Up
April 24 2014 - 10:00AM
Marketwired
Fixed Mortgage Rates Tick Up
MCLEAN, VA--(Marketwired - Apr 24, 2014) - Freddie Mac (OTCQB:
FMCC) today released the results of its Primary Mortgage Market
Survey® (PMMS®), showing average fixed mortgage rates following an
uptick in the 10-year treasury note and amid a week of soft housing
data.
News Facts
- 30-year fixed-rate mortgage (FRM) averaged 4.33 percent with an
average 0.6 point for the week ending April 24, 2014, up from last
week when it averaged 4.27 percent. A year ago at this time, the
30-year FRM averaged 3.40 percent.
- 15-year FRM this week averaged 3.39 percent with an average 0.6
point, up from last week when it averaged 3.33 percent. A year ago
at this time, the 15-year FRM averaged 2.61 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM)
averaged 3.03 percent this week with an average 0.5 point,
unchanged from last week. A year ago, the 5-year ARM averaged 2.58
percent.
- 1-year Treasury-indexed ARM averaged 2.44 percent this week
with an average 0.5 point, unchanged from last week. 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 edged up following the uptick in the 10-year
Treasury note late last week. Existing home sales were essentially
flat with a 0.2 percent decline in March to a seasonally adjusted
annual rate of 4.59 million. However, new home sales fell nearly 15
percent in March to an annual rate of 384,000, well below
consensus."
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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