Mortgage Rates Continue to Rise Other OTC:FMCC

2019-04-18 10:24:10

(MENAFN- GlobeNewsWire - Nasdaq) itemprop="articleBody">MCLEAN, Va., April 18, 2019 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that fixed mortgage rates rose for the third consecutive week.

Sam Khater, Freddie Mac's chief economist, says, 'After dropping dramatically in late March, mortgage rates have modestly increased since then. While this week marks the third consecutive week of rises, purchase activity reached a nine-year high – indicative of a strong spring homebuying season.'

News Facts

30-year fixed-rate mortgage (FRM) averaged 4.17 percent with an average 0.5 point for the week ending April 18, 2019, up from last week when it averaged 4.12 percent. A year ago at this time, the 30-year FRM averaged 4.47 percent.

15-year FRM this week averaged 3.62 percent with an average 0.5 point, up from last week when it averaged 3.60 percent. A year ago at this time, the 15-year FRM averaged 3.94 percent.

5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.78 percent with an average 0.3 point, down from last week when it averaged 3.80 percent. A year ago at this time, the 5-year ARM averaged 3.67 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.

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, investors and taxpayers. Learn more at FreddieMac.com , Twitter @FreddieMac and Freddie Mac's blog FreddieMac.com/blog .

MEDIA CONTACT:
Nicole Flores
703-903-4068

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/97a91d25-b0f3-4923-bf4d-64d290f1332f

MENAFN1804201900703653ID1098408774

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.