The FINANCIAL — Freddie Mac on June 22 released the results of its Primary Mortgage Market Survey (PMMS), showing average mortgage rates continuing to hold at year-to-date lows amidst ongoing economic uncertainty.
News Facts
30-year fixed-rate mortgage (FRM) averaged 3.90 percent with an average 0.5 point for the week ending June 22, 2017, down from last week when it averaged 3.91 percent. A year ago at this time, the 30-year FRM averaged 3.56 percent.
15-year FRM this week averaged 3.17 percent with an average 0.5 point, down from last week when it averaged 3.18 percent. A year ago at this time, the 15-year FRM averaged 2.83 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.14 percent this week with an average 0.5 point, down from last week when it averaged 3.15 percent. A year ago at this time, the 5-year ARM averaged 2.74 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 link for the Definitions. Borrowers may still pay closing costs which are not included in the survey.
Quote
Attributed to Sean Becketti, chief economist, Freddie Mac.
“Following last week’s sharp decline, the 10-year Treasury yield rose 3 basis points this week. The 30-year mortgage rate remained relatively flat, falling 1 basis point to 3.90 percent. Mortgage rates are continuing to hold at year-to-date lows amidst ongoing economic uncertainty.”
