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30-Year Fixed Mortgage Rate Hits New Low

ID: 1511685
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(businesspress24) - MCLEAN, VA -- (Marketwired) -- 06/29/17 -- (OTCQB: FMCC) today released the results of its (PMMS®), showing the 30-year fixed mortgage rate dropping to a new 2017 low.

(FRM) averaged 3.88 percent with an average 0.5 point for the week ending June 29, 2017, down from last week when it averaged 3.90 percent. A year ago at this time, the 30-year FRM averaged 3.48 percent.

this week averaged 3.17 percent with an average 0.5 point, the same as last week. A year ago at this time, the 15-year FRM averaged 2.78 percent.

(ARM) averaged 3.17 percent this week with an average 0.5 point, up from last week when it averaged 3.14 percent. A year ago at this time, the 5-year ARM averaged 2.70 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 . Borrowers may still pay closing costs which are not included in the survey.

Attributed to Sean Becketti, chief economist, Freddie Mac.
"The 30-year mortgage rate fell 2 basis points to 3.88 percent this week. However, the majority of our survey was conducted prior to Tuesday''s sell-off in the bond market which drove Treasury yields higher. Mortgage rates may increase in next week''s survey if Treasury yields continue to rise."

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 , Twitter and Freddie Mac''s blog .

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Date: 06/29/2017 - 14:00
Language: English
News-ID 1511685
Character count: 2738
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Firma: Freddie Mac
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Stadt: MCLEAN, VA
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