Skip to main content

Rates Hold Steady, Remain Near Four Percent Mark

Sep 04, 2014

Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing average fixed-rate mortgages (FRMs) holding largely steady for the third straight week amid light economic reports. This week, the 30-year fixed-rate mortgage (FRM) averaged 4.10 percent with an average 0.5 point for the week ending Sept. 4, unchanged from last week. A year ago at this time, the 30-year FRM averaged 4.57 percent. Also this week, the 15-year FRM averaged 3.24 percent with an average 0.5 point, down from last week when it averaged 3.25 percent. A year ago at this time, the 15-year FRM averaged 3.59 percent. "Mortgage rates were little changed amid a week of light economic reports,” said Frank Nothaft, vice president and chief economist for Freddie Mac. “The 30-year fixed-rate mortgage rate remained unchanged from the previous week at 4.10 percent. Of the few releases, the ISM's manufacturing index rose to 59.0 in August from 57.1 the previous month. This was the highest reading of the index since March 2011." The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.97 percent this week with an average 0.5 point, unchanged from last week. A year ago, the five-year ARM averaged 3.28 percent. The one-year Treasury-indexed ARM averaged 2.40 percent this week with an average 0.4 point, up from last week when it averaged 2.39 percent. At this time last year, the one-year ARM averaged 2.71 percent.
About the author
Published
Sep 04, 2014
Co-Founder Mat Grella Terminated From NEXA

NEXA CEO Kortas states negotiations regarding the buyout will continue.

Mar 27, 2024
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