Fixed Mortgage Rate Hits Six-Week High

Oct 05, 2017

After three straight weeks of declines, mortgage rates saw minimal movement in Freddie Mac’s latest Primary Mortgage Market Survey (PMMS)

The average 30-year fixed mortgage rate hit its highest mark in six weeks, according to the latest Freddie Mac Primary Mortgage Market Survey (PMMS).

The 30-year fixed-rate mortgage (FRM) averaged 3.85 percent for the week ending Oct. 5, up from last week when it averaged 3.83 percent. The 15-year FRM this week averaged 3.15 percent, up from last week when it averaged 3.13 percent.

However, the five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.18 percent this week, down from last week when it averaged 3.20 percent.

The average 30-year fixed mortgage rate hit its highest mark in six weeks, according to the latest Freddie Mac Primary Mortgage Market Survey (PMMS)

About the author

Phil Hall

Link copied

Published

Oct 05, 2017

People On The Move

Figure Technology Solutions Names Michael Tannenbaum New CEO

Founder and former CEO, Mike Cagney, assumes the role of executive chairman.

Figure Technology Solutions (FTS), parent company of five-days-to-close HELOC originator, Figure Lending, announced today the appointment of Michael Tannenbaum as chief executive officer (CEO) and a member of the Board of Directors. Co-founder and previous CEO of the company...

Analysis and Data

Monthly, Yearly Jump In New Home Sales In March

The growth coincides with roughly a quarter of builders saying they cut prices last month.

Sales of newly built, single-family homes in March jumped 8.8% month-over-month, reaching a seasonally adjusted annual rate of 693,000 units compared to February's revised 637,000 units, according to data released jointly today by the U.S. Census Bureau and the Department of...