Skip to main content

Amid Government Shutdown, Mortgage Rates Change Little

Oct 10, 2013

Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing average fixed mortgage rates changing little for the week as the 30-year fixed-rate mortgage (FRM) averaged 4.23 percent with an average 0.7 point for the week ending Oct. 10, up from last week when it averaged 4.22 percent. A year ago at this time, the 30-year FRM averaged 3.39 percent. The 15-year FRM this week averaged 3.31 percent with an average 0.7 point, up from last week when it averaged 3.29 percent. A year ago at this time, the 15-year FRM averaged 2.70 percent.  "Mortgage rates were little changed amid the federal debt impasse in Washington, D.C. and a light week of economic data releases," said Frank Nothaft, vice president and chief economist, Freddie Mac. "Of the few releases, the private sector added an estimated 166,000 jobs in September, which were fewer than the market consensus and followed a downward revision of 17,000 workers in August, according to the ADP Research Institute. The Institute for Supply Management reported a greater slowing in growth in the nonmanufacturing industry in September than the market consensus forecast."   The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.05 percent this week with an average 0.4 point, up from last week when it averaged 3.03 percent. A year ago, the five-year ARM averaged 2.73 percent. The one-year Treasury-indexed ARM averaged 2.64 percent this week with an average 0.4 point, up from last week when it averaged 2.63 percent. At this time last year, the one-year ARM averaged 2.59 percent. 
About the author
Published
Oct 10, 2013
Comings And Goings At AmeriHome

Chief Operating Officer John Hedlund announced his retirement on Thursday in a LinkedIn post.

Mar 22, 2024
Rocket's Tim Birkmeier To Retire

Birkmeier is bidding farewell after a 28-year career at Rocket Companies.

Mar 21, 2024
How NAR’s Settlement Impacts Homebuying

While the settlement's silver lining is that homes are expected to become more affordable, many uncertainties loom over the housing market.

Mar 19, 2024
NAR Reaches $418 Million Settlement

The association agreed to give home sellers the option of compensating agents.

Mar 15, 2024
U.S. Non-Bank Mortgage Lenders Surge Amid Industry Consolidation, Fitch Ratings Reports

As smaller players exit the market, scaled originators like UWM and PennyMac Financial dominate, but challenges persist with low origination volume and pressured margins amidst rising interest rates.

Mar 14, 2024
Guild Mortgage Reports Net Loss In 2023 Amid Acquisition Spree

San Diego-based lender reports net loss for 2023 despite aggressive growth strategy.

Mar 13, 2024