10 June 2014
Freddie Mac recently released the results of its Primary Mortgage Market Survey®, showing that last week’s average fixed mortgage rates largely flat compared to the previous week amid light economic reports.
“Mortgage rates were little changed amid a week of light economic reports,” says Frank Nothaft, vice president and chief economist, Freddie Mac. “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.”
The 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 the last week when it averaged 4.12 percent. A year ago at this time, the 30-year FRM averaged 3.91 percent.
Results show that that 15-year FRM averaged 3.23 percent with an average 0.5 point, up from the last week when it averaged 3.21 percent. A year ago at this time, the 15-year FRM averaged 3.03 percent.
The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.93 percent week with an average 0.4 point, down from the last week when it averaged 2.96 percent. A year ago, the 5-year ARM averaged 2.74 percent.
Additionally, the 1-year Treasury-indexed ARM averaged 2.40 percent with an average 0.4 point, down from the previous week when it averaged 2.41 percent. At this time last year, the 1-year ARM averaged 2.58 percent.
For more information, visit www.FreddieMac.com.
Sotheby's International Realty ® is a registered trademark licensed to Sotheby's International Realty Affiliates, Inc. This Web site is not the official Web site of Sotheby's International Realty, Inc. Sotheby's International Realty, Inc. does not make any warranty regarding any information, including without limitation its accuracy or completeness, contained on this site. Equal Housing Opportunity. Visit Sotheby's International Realty
Design By SantaFeWebDesign.com