Freddie Mac

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 2.86 percent.

“Mortgage rates stayed relatively flat this week,” said Sam Khater, Freddie Mac’s Chief Economist. “Housing is in a similar phase of the economic cycle as many other consumer goods. While there is strong latent demand, low supply has caused prices to rise as shortages restrict the amount of sales activity that otherwise would occur.”

News Facts

• 30-year fixed-rate mortgage averaged 2.86 percent with an average 0.7 point for the week ending August 19, 2021, down slightly from last week when it averaged 2.87 percent. A year ago at this time, the 30-year FRM averaged 2.99 percent.
• 15-year fixed-rate mortgage averaged 2.16 percent with an average 0.6 point, up slightly last week when it averaged 2.15 percent. A year ago at this time, the 15-year FRM averaged 2.54 percent.
• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.43 percent with an average 0.3 point, down slightly from last week when it averaged 2.44 percent. A year ago at this time, the 5-year ARM averaged 2.91 percent.

The PMMS^® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit. 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.