Freddie Mac PMMS Interest Rates Survey
October 24, 2019 Survey
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 3.75 percent, the highest it’s been in 12 weeks.
“The outlook for a favorable resolution to the trade dispute between the U.S. and China is still unclear, introducing some volatility into financial markets and the benchmark 10-year Treasury yield,” said Sam Khater, Freddie Mac’s Chief Economist. “Mortgage rates are following suit but are at near historic lows, while mortgage applications to purchase a home remain higher year over year.”
Average Rates plus points and 1 Year ago Rates
- 30-year fixed-rate mortgage averaged 3.75 percent with an average 0.5 point for the week ending October 24, 2019, up from last week when it averaged 3.69 percent. A year ago at this time, the 30-year FRM averaged 4.86 percent.
- 15-year fixed-rate mortgage averaged 3.18 percent with an average 0.5 point, up from last week when it averaged 3.15 percent. A year ago at this time, the 15-year FRM averaged 4.29 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.4 percent with an average 0.3 point, up from last week when it averaged 3.35 percent. A year ago at this time, the 5-year ARM averaged 4.14 percent.
Source: MCLEAN, Va., Oct. 24, 2019 (GLOBE NEWSWIRE)