The WPJ
Residential Real Estate News
U.S. Mortgage Rates Remain Flat for Third Consecutive Week
Based on Freddie Mac's latest Primary Mortgage Market Survey (PMMS), the average fixed mortgage rate held steady for the third straight week amid light economic reports.
Freddie Mac vice president Frank Nothaft said, "Mortgage rates were little changed amid a week of light economic reports. The 30-year fixed-rate mortgage rate remained unchanged from the previous week at 4.10 percent. Of the few releases, the ISM's manufacturing index rose to 59.0 in August from 57.1 the previous month. This was the highest reading of the index since March 2011."
News Facts
- 30-year fixed-rate mortgage (FRM) averaged 4.10 percent with an average 0.5 point for the week ending September 4, 2014, unchanged from last week. A year ago at this time, the 30-year FRM averaged 4.57 percent.
- 15-year FRM this week averaged 3.24 percent with an average 0.5 point, down from last week when it averaged 3.25 percent. A year ago at this time, the 15-year FRM averaged 3.59 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.97 percent this week with an average 0.5 point, unchanged from last week. A year ago, the 5-year ARM averaged 3.28 percent.
- 1-year Treasury-indexed ARM averaged 2.40 percent this week with an average 0.4 point, up from last week when it averaged 2.39 percent. At this time last year, the 1-year ARM averaged 2.71 percent.
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