Skip to main content

Amid Government Shutdown, Mortgage Rates Change Little

NationalMortgageProfessional.com
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. 
Published
Oct 10, 2013
Williston Financial Group, Doma Strike Deal

WFG is set to acquire Doma’s title operations, including operation centers in the Northern and Central California.

May 24, 2023
Mat Ishbia Takes A Charge At NBA Playoff Game

UWM CEO and majority owner of the Phoenix Suns involved in scuffle with Denver center Nikola Jokic

May 08, 2023
The Pitfalls Of Cash-Out Refinancing In A Rising Interest Rate Environment

Second-lien home equity loans are a far better way to take out cash

May 02, 2023
NEW YORK: How To Conquer - Not Fear - The Empire State

Roadblocks are many but payoff is worth it

May 01, 2023
RCN Capital Opens LA Office

Expansion marks lender's continued success.

Apr 26, 2023
Trigger Lead Legislation Renews Debate Over Consumer Choice

Borrowers can protect themselves from unsolicited lenders, but they could be doing themselves a disfavor

Apr 20, 2023