Getting pre-qualified for a mortgage is becoming the standard for these homeowners looking to buy, so encourage your clients to pre-qualify before shopping. Last year at this time, the 30-year FRM averaged 6.46 percent. Mortgage rates surged as the 30-year fixed-rate mortgage moved up more than half a percentage point, marking the largest.
The survey is based on first-lien prime conventional conforming home purchase mortgages with a loan-to-value of 80 percent. Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 4.92 percent with an average 0.7 point for the week ending October 15, 2009, up from last week when it averaged 4.87 percent. MCLEAN, Va., J(GLOBE NEWSWIRE) - Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey (PMMS), showing that the 30-year fixed-rate mortgage (FRM) averaged 5.78 percent. To add to this good news, the National Association of Realtors stated that during the month of April 2013, the days a house remained on the market decreased from 62 to 46 days, showing that there are buyers out there looking for homes and making quick decisions. Each week, since April 1971, Freddie Mac surveys lenders on the rates and points for their most popular 30-year fixed-rate, 15-year fixed-rate and 5/1 hybrid amortizing adjustable-rate mortgage products. In addition to the positive outlook in financing, April’s reports for sales show a strong increase for both new home construction and existing home sales.
Nothaft, “While may slow some of the refinance momentum, rates are nonetheless low and home-buyer affordability high, which should further aid home sales and construction in coming weeks.” Freddie Mac’s most recent Primary Mortgage Market Survey, released Thursday, showed that the 30-year fixed-rate mortgage averaged 3.64 for the week ending May 26, 2016. Adjustable-rate mortgages, however, have maintained a steady rate for most of the month, with only the 5-year ARM rising slightly by one percentage point.Īccording to the Vice President of Freddie Mac, Frank E.
This rate, however, is still significantly below last year’s average around this time, which was around 3.78%.
The latest Primary Mortgage Market Survey(R) (PMMS®) report published by Freddie Mac shows that mortgage rates have continued to climb for a third consecutive week, closing the month of May with a 30-year fixed rate near 3.59%-nearly a quarter of a percentage point higher than what it was on May 1 st. Although financing rates are certainly not at the lowest they’ve been in the past year, the good news is that the overall market outlook is looking better than it has looked in a long time and we have increased home sales, returning home construction and better buyer affordability to thank for that. Is the market looking up for you and your real estate business? If not, it should be showing signs of improvement soon according to the latest report issued by Freddie Mac. Approximately 125 lenders are surveyed, where 25 lenders are selected from each of the Freddie Mac’s five regions.Freddie Mac Publishes Latest Mortgage Trends Showing Upward Trajectory The survey takes place each week from Monday to Wednesday and the rates are published on Thursdays. The rates reflect quotes from the lender and not on recent settlements. The ARMs are indexed to US Treasury yields and lenders are asked for the initial coupon rate, origination points, and the margin on the ARMs. The survey is based on first lien prime conventional conforming mortgages with a loan-to-value of 80 percent. 0.8 Fees/Points 5/1-Yr. The Primary Mortgage Market Survey (PMMS) results are released Thursday at 10 a.m. Freddie Mac conducts a survey with mortgage lenders each week on the rates and points for their most popular 30-year fixed rate mortgage, 15-year fixed rate mortgage, 5/1 ARMs, and 1-year ARMs. Freddie Mac surveys lenders each week on the average rates, fees, and points for the most popular mortgage products.