The WPJ
Fixed Rate Mortgages in U.S. Still Hovering Around 4.1 Percent

Fixed Rate Mortgages in U.S. Still Hovering Around 4.1 Percent

Residential News » North America Residential News Edition | By WPJ Staff | June 5, 2014 10:36 AM ET



According to Freddie Mac's most recent Primary Mortgage Market Survey (PMMS), average fixed mortgage rates remained unchanged this week compared to the previous week amid light economic reports.

Frank-Nothaft-headshot.jpg

Frank Nothaft

Freddie Mac's chief economist Frank Nothaft said, "Mortgage rates were little changed amid a week of light economic reports. Of the few releases, real GDP was revised down to -1.0 percent growth in the first quarter of 2014. ADP Research Institute estimated the private sector added 179,000 jobs in May, which followed a slight downward revision of 5,000 jobs in April. Meanwhile, the Institute for Supply Management reported the manufacturing industry saw a slight acceleration in monthly growth for May."
 
Freddie Mac Report News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 4.14 percent with an average 0.5 point for the week ending June 5, 2014, up from last week when it averaged 4.12 percent. A year ago at this time, the 30-year FRM averaged 3.91 percent.
  • 15-year FRM this week averaged 3.23 percent with an average 0.5 point, up from last week when it averaged 3.21 percent. A year ago at this time, the 15-year FRM averaged 3.03 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.93 percent this week with an average 0.4 point, down from last week when it averaged 2.96 percent. A year ago, the 5-year ARM averaged 2.74 percent.
  • 1-year Treasury-indexed ARM averaged 2.40 percent this week with an average 0.4 point, down from last week when it averaged 2.41 percent. At this time last year, the 1-year ARM averaged 2.58 percent.


Real Estate Listings Showcase

This website uses cookies to improve user experience. By using our website you consent in accordance with our Cookie Policy. Read More