No Movement on Fixed Mortgage Rates

Sep 28, 2017

Mortgage rates were mostly flat this week, according to the latest Freddie Mac Primary Mortgage Market Survey (PMMS).

The 30-year fixed-rate mortgage (FRM) averaged 3.83 percent for the week ending Sept. 28, the same as last week. The 15-year FRM this week averaged 3.13 percent, also the same as last week. However, the five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.20 percent, up from last week when it averaged 3.17 percent.

Separately, the Federal Housing Finance Agency (FHFA) reported that the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 4.05 percent for loans closed in late

August, up from 3.99 percent in July. The average interest rate on all mortgage loans was 4.04 percent, up from 3.98 percent, in July, while the average interest rate on conventional, 30-year, fixed-rate mortgages of $424,100 or less was 4.19 percent, up from 4.14 percent in July.

The FHFA also reported that the effective interest rate on all mortgage loans was 4.14 percent in August, up from 4.08 percent in July, and the average loan amount for all loans was $309,600 in August, down $7,400 from $317,000 in July.

About the author

Phil Hall

Link copied

Published

Sep 28, 2017

Analysis and Data

It's A Buyers' Market In Texas And Florida!!!

Redfin says sellers are cutting their asking prices in the two southern states.

Two states in particular are experiencing a ballooning supply of homes for sale this spring, paired with modest price cuts to entice buyers. A new report from Redfin indicates that housing supply is surging in Florida and Texas, and sellers are cutting their asking prices...

Analysis and Data

Pending Home Sales Climbed 3.4% In March

National Association of Realtors reports gains in Northeast, South and West, with a slight drop in the Midwest

Homes under contract are rising at a cautiously hopeful pace this spring. The National Association of Realtors’ Pending home Sales Index climbed 3.4% in March, increasing to 78.2. Year-over-year, pending transactions were up 0.1%. “March's Pending Home Sales Index – at...