MCLEAN, VA--(Marketwired - Sep 29, 2016) - Freddie Mac(OTCQB:FMCC) today released the results of its Primary Mortgage Market Survey®(PMMS®), showing the average 30-year fixed mortgage rate falling as the FOMC decided to leave short term rates unchanged.
30-year fixed-rate mortgage(FRM) averaged 3.42 percent with an average 0.5 point for the week ending September 29, 2016, down from last week when it averaged 3.48 percent. A year ago at this time, the 30-year FRM averaged 3.85 percent.
15-year FRMthis week averaged 2.72 percent with an average 0.5 point, down from last week when it averaged 2.76 percent. A year ago at this time, the 15-year FRM averaged 3.07 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 theDefinitions. Borrowers may still pay closing costs which are not included in the survey.
Quote Attributed to Sean Becketti, chief economist, Freddie Mac.
Author:Dorothy Lee Phone: 615-973-6363 Dated: October 15th 2016 Views: 240 About Dorothy: Dorothy Lee’s 18+ years extensive knowledge and experience in Real Estate provides her a unique v...
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