Skip to main content

Fixed-Rates Back Up and Inch Toward the 4.6 Percent Mark

NationalMortgageProfessional.com
Sep 06, 2013

Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing the average 30-year fixed-rate mortgage (FRM) hitting 4.57 percent with an average 0.7 point for the week ending Sept. 5, 2013, up from last week when it averaged 4.51 percent. A year ago at this time, the 30-year FRM averaged 3.55 percent. Also this week, the 15-year FRM averaged 3.59 percent with an average 0.7 point, up from last week when it averaged 3.54 percent. A year ago at this time, the 15-year FRM averaged 2.86 percent.  "Mortgage rates edged up this week on signs of a stronger economic recovery," said Frank Nothaft, vice president and chief economist of Freddie Mac. "Real GDP was revised upwards to 2.5 percent growth in the second quarter of this year. In addition, residential construction spending rose for a ninth consecutive month in July. Lastly, the manufacturing industry expanded by the fastest pace in August since June 2011." The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.28 percent this week with an average 0.5 point, up from last week when it averaged 3.24 percent. A year ago, the five-year ARM averaged 2.75 percent. The one-year Treasury-indexed ARM averaged 2.71 percent this week with an average 0.5 point, up from last week when it averaged 2.64 percent. At this time last year, the one-year ARM averaged 2.61 percent.
Published
Sep 06, 2013
Top Texas Originator Sees No Surrender To 2023

Big cities will determine the battle

Industry News
Jan 26, 2023
There’s Good & Bad News On The Horizon

There will be a real estate slump, but the big cities are coming out much better

Industry News
Jan 26, 2023
Housing Prices Across Texas Likely Hobbled In 2023

But you’re getting a lot less for $1 million

Industry News
Jan 23, 2023
UWM Adds 'Control Your Price' To 'Game On' Pricing

New program provides 125 basis points in price enhancements for loan orignators.

Industry News
Jan 11, 2023
Rocket Pro TPO Relieves Brokers Of Credit Fee Burden

Will provided free credit reports to brokers if they get their loan closed with the Detroit lender.

Industry News
Jan 10, 2023
Former Employees Sue Rocket Mortgage Over OT Pay

Claim company failed to properly calculate & pay OT for working beyond 40 hours a week.

Operations
Jan 09, 2023