Economic and Housing Research
Weekly Commentary
May 23
Fixed-rates moved up for the third consecutive week, with the average 30-year fixed-rate mortgage about a quarter-percentage point higher than three weeks ago. While this may slow some of the refinance momentum, rates are nonetheless low and home-buyer affordability high, which should further aid home sales and construction in coming weeks. For instance, in April, single family housing permits rose to the strongest pace since May 2008 while existing home sales for the same month grew the most since November 2009. Moreover, the National Association of Realtors® reported that the median number of days on the market for these sales fell from 62 to 46 days, the fewest since it began collecting the data in May 2011. >> Next Commentary: May 30
Primary Mortgage Market Survey (PMMS)
Freddie Mac surveys lenders each week on the rates, fees and points for the most popular mortgage products. Results are released Thursday at 10am EDT.
Primary Mortgage Market Survey (U.S. Weekly Averages)
| Regional Breakdown | 30-Yr FRM | 15-Yr FRM | 5/1-Yr ARM | 1-Yr ARM |
|---|---|---|---|---|
| Average Rates | 3.59 % | 2.77 % | 2.63 % | 2.55 % |
| Fees & Points | 0.7 | 0.7 | 0.5 | 0.4 |
| Margin | N/A | N/A | 2.75 | 2.76 |
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Disclaimer
Opinions, estimates, forecasts and other views contained in this page are those of Freddie Mac's Office of the Chief Economist, do not necessarily represent the views of Freddie Mac or its management, should not be construed as indicating Freddie Mac's business prospects or expected results, and are subject to change without notice. Although the Office of the Chief Economist attempts to provide reliable, useful information, it does not guarantee that the information is accurate, current or suitable for any particular purpose. © 2013 by Freddie Mac. Information from this page may be used with proper attribution.