Mortgage Rates Hold Steady

Mortgage Rates Hold Steady

MCLEAN, VA–(Marketwired – Sep 12, 2013) – Freddie Mac
(OTCQB: FMCC) today released the results of its Primary Mortgage Market
Survey®
(PMMS®), showing average fixed mortgage rates relatively
unchanged from last week following a mixed employment report, and holding steady
near their highs for the year.

News Facts

30-year fixed-rate mortgage (FRM)
averaged 4.57 percent with an average 0.8 point for the week ending September
12, 2013, unchanged from last week. A year ago at this time, the 30-year FRM
averaged 3.55 percent.

15-year FRM this week averaged 3.59
percent with an average 0.7 point, unchanged from last week. A year ago at this
time, the 15-year FRM averaged 2.85 percent.

5-year Treasury-indexed hybrid adjustable-rate
mortgage
(ARM) averaged 3.22 percent this week with an average 0.5 point,
down from last week when it averaged 3.28 percent. A year ago, the 5-year ARM
averaged 2.72 percent.

1-year Treasury-indexed ARM averaged
2.67 percent this week with an average 0.4 point, down from last week when it
averaged 2.71 percent. At this time last year, the 1-year ARM averaged 2.61
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 were little changed this week following a mixed employment report.
For example, the economy added 169,000 jobs in August, which was below the
market consensus forecast, and revisions subtracted another 74,000 from the
prior two months. Meanwhile, the unemployment rate fell to 7.3 percent which
was the lowest since December 2008.”

Source: FreddieMac

 

SUMMARY
OF FREDDIE MAC SURVEY RESULTS

 

 

30-Year
Fixed Rate Mortgages
US West
Average 4.57 4.53
Fees
& Points
0.8 0.8
15-Year
Fixed Rate Mortgages
US West
Average 3.59 3.55
Fees
& Points
0.7 0.7
5/1-Year
Adjustable Rate Mortgages
US West
Average 3.22 3.16
Fees
& Points
0.5 0.6
Margin 2.75 2.74
1-Year
Adjustable Rate Mortgages
US West
Average 2.67 2.53
Fees
& Points
0.4 0.4
Margin 2.77 2.75

 

 

 

     
The
National Mortgage Rate Snapshot
One Year
Ago
One Week
Ago
  30-YR 15-YR 5/1-YR 1-YR ARM 30-YR 15-YR 5/1-YR 1-YR ARM
Average 3.55 2.85 2.72 2.61 4.57 3.59 3.28 2.71
Fees
& Points
0.6 0.6 0.6 0.4 0.7 0.7 0.5 0.5
Margin N/A N/A 2.74 2.76 N/A N/A 2.75 2.77

 

 

Sept 12, 2013

Source: Freddie Mac

 

Posted in Uncategorized | Comments Off on Mortgage Rates Hold Steady

Comments are closed.