Rate on US 30-year fixed-rate mortgage averaged 4.20% in week ended May 15, versus 4.21% in previous week, 3.51% a year ago: Freddie Mac
Allison Oesterle
MCLEAN, Virginia
,
May 15, 2014
(press release)
–
Freddie Mac (OTCQB: FMCC) today released the results of its
Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates easing slightly for the third consecutive week to remain at a six month low.
News Facts
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 links for the
Regional and National Mortgage Rate Details and
Definitions. Borrowers may still pay closing costs which are not included in the survey.
Quotes
Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.
"Mortgage rates were little changed amid a week of light economic reports. These lower than expected rates are welcome news with the spring home buying season underway and may even provide those who haven't already refinanced possibly a reason to take another look. Of the few releases, advanced
retail sales [PDF] rose 0.1 percent in April, but below the market forecast consensus of a 0.4 percent increase. Also, the Producer Price
Index [PDF] for final demand rose 0.6 percent in April which followed a 0.5 percent boost from the prior month."
Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four home borrowers and is one of the largest sources of financing for multifamily housing. Additional information is available 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 The information could be out of date and no longer accurate.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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