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Mortgage Rates Continue to Hold

Mortgage rates continue to hold.Mortgage rates continue to hold. Click here for high-resolution version

/EINPresswire.com/ -- MCLEAN, VA--(Marketwired - May 11, 2017) - Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year mortgage rate hovering around 4 percent for the fourth consecutive week.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 4.05 percent with an average 0.5 point for the week ending May 11, 2017, up from last week when it averaged 4.02 percent. A year ago at this time, the 30-year FRM averaged 3.57 percent.
  • 15-year FRM this week averaged 3.29 percent with an average 0.5 point, up from last week when it averaged 3.27 percent. A year ago at this time, the 15-year FRM averaged 2.81 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.14 percent this week with an average 0.5 point, up from last week when it averaged 3.13 percent. A year ago, the 5-year ARM averaged 2.78 percent.

Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following link for the Definitions. Borrowers may still pay closing costs which are not included in the survey.

Quote
Attributed to Sean Becketti, chief economist, Freddie Mac.

"The 10-year Treasury yield jumped 8 basis points this week while the 30-year mortgage rate rose 3 basis points to 4.05 percent. Mixed economic reports over the last few weeks have anchored the 30-year mortgage rate around the 4 percent mark."

Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we've made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac's blog FreddieMac.com/blog.

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MEDIA CONTACT:
Chad Wandler
703-903-2446
Chad_Wandler@FreddieMac.com