Skip to main content

Fixed-Rate Mortgages Back Up This Week Just Under 4.40 Percent

NationalMortgageProfessional.com
Aug 01, 2013

Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing average fixed mortgage rates increasing as the 30-year fixed-rate mortgage (FRM) averaged 4.39 percent with an average 0.7 point for the week ending Aug. 1, up from last week when it averaged 4.31 percent. Last year at this time, the 30-year FRM averaged 3.55 percent. Also this week, the 15-year FRM this week averaged 3.43 percent with an average 0.7 point, up from last week when it averaged 3.39 percent. A year ago at this time, the 15-year FRM averaged 2.83 percent. "Mortgage rates rose slightly leading up to the Federal Reserve's monetary policy statement this week. The statement indicated no change in monetary policy," said Frank Nothaft, vice president and chief economist, Freddie Mac. "The Fed indicated that the economy expanded at a modest pace, but the unemployment rate remains elevated."  The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.18 percent this week with an average 0.6 point, up from last week when it averaged 3.16 percent. A year ago, the five-year ARM averaged 2.75 percent. The one-year Treasury-indexed ARM averaged 2.64 percent this week with an average 0.4 point, down from last week when it averaged 2.65 percent. At this time last year, the one-year ARM averaged 2.70 percent.
Published
Aug 01, 2013
Reports: Evergrande Group Makes $83.5M Interest Payment

Faltering Chinese development firm fends off default with payment to international bondholders.

Industry News
Oct 22, 2021
FAR Establishes Borrower Engagement Division

Finance of America Reverse LLC announced its formally established Borrower Engagement Division.

Industry News
Oct 22, 2021
Automating Appraisals No Panacea For Removing Bias

With racism 'grandfathered in' to housing prices in minority neighborhoods, a solution to 'unconscious bias' is difficult to find

Industry News
Oct 21, 2021
Reports: Evergrande Group Arranges Bond Extension

Reuters, REDD say company's billionaire chairman has agreed to provide additional collateral to ensure a construction project tied to a $260M bond is completed.

Industry News
Oct 21, 2021
New American Funding Hires Regional Manager

Mark Tribuna will lead effort to expand company's partnership with affordable nonprofit builders in mid-Pacific region

Industry News
Oct 21, 2021
Rocket Pro Announces Initiatives To Boost Brokers

Company brings Rocket Tech, the Rocket Network and Rocket Marketing to mortgage brokers across the country

Industry News
Oct 19, 2021