FREDDIE MAC: Mortgage Rates Lower Across the Board

FREDDIE MAC: Mortgage Rates Lower Across the Board

Freddie Mac (OTCQB: FMCC) on Thursday, Dec. 4, 2014  released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates down from the previous week. At 3.89 percent, the average 30-year fixed-rate mortgage is at its lowest level since the week of May 30, 2013.

"Mortgage rates were down across the board on a week of underwhelming economic releases," said Frank Nothaft, Freddie Mac's vice president and chief economist. "New home sales [PDF] missed consensus expectations by selling at an annual pace of 458,000 units in October and the National Association of Realtors reported that pending home sales dipped in October by 1.1 percent. The ADP's estimate for payroll growth [PDF] in November was 208,000 jobs, under expectations of 225,000."

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 3.89 percent with an average 0.5 point for the week ending December 4, 2014, down from last week when it averaged 3.97 percent. A year ago at this time, the 30-year FRM averaged 4.46 percent.
  • 15-year FRM this week averaged 3.10 percent with an average 0.5 point, down from last week when it averaged 3.17 percent. A year ago at this time, the 15-year FRM averaged 3.47 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.94 percent this week with an average 0.5 point, down from last week when it averaged 3.01 percent. A year ago, the 5-year ARM averaged 2.99 percent.
  • 1-year Treasury-indexed ARM averaged 2.41 percent this week with an average 0.4 point, down from last from last week when it averaged 2.44 percent. At this time last year, the 1-year ARM averaged 2.59 percent. 
Comments powered by Disqus