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Mortgage Rates Steady to Begin February

Mortgage Rates Steady to Begin February

MCLEAN, VA--(Marketwired - Feb 2, 2017) -  Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average 30-year mortgage rates holding steady after rising last week. 

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 4.19 percent with an average 0.5 point for the week ending Feb. 2, 2017, unchanged from last week. A year ago at this time, the 30-year FRM averaged 3.72 percent. 
  • 15-year FRM this week averaged 3.41 percent with an average 0.5 point, up from last week when it averaged 3.40 percent. A year ago at this time, the 15-year FRM averaged 3.01 percent. 
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.23 percent this week with an average 0.4 point, up from last week when it averaged 3.20 percent. A year ago, the 5-year ARM averaged 2.85 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 fell 5 basis points this week following a tepid advance estimate of fourth-quarter GDP and the Fed's decision to leave rates unchanged. The 30-year mortgage rate remained flat at 4.19 percent, starting the month 47 basis points higher than this time last year. Despite the uncertainty in the market, the pending home sales index increased 1.6 percent in December, up from a decline of 2.5 percent the month prior."

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.








 

The financial and other information contained in the documents that may be accessed on this page speaks only as of the date of those documents. The information could be out of date and no longer accurate. Freddie Mac does not undertake an obligation, and disclaims any duty, to update any of the information in those documents. Freddie Mac's future performance, including financial performance, is subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect the company's future results are discussed more fully in our reports filed with the SEC.


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