SOURCE: Freddie Mac
August 21, 2014 10:00 ET
MCLEAN, VA--(Marketwired - Aug 21, 2014) - Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates following bond yields lower. Averaging 4.10 percent for the week, the 30-year fixed-rate mortgage fell below its previous 2014 low of 4.12 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 links for the Regional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey.
Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.
"Mortgage rates were down slightly this week, following the decline in 10-year Treasury yields. Meanwhile, housing starts in July jumped 15.7 percent to 1.093 million units after falling 4.0 percent a month earlier. Also, July's consumer prices increased at a 0.1 percent seasonally adjusted pace, the slowest in five months."
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.
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30-Year Fixed-Rate Mortgage Hits Year's Low
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