Mortgage Rates Barely Move
MCLEAN, Va., Feb. 28, 2019 (GLOBE NEWSWIRE) -- (OTCQB: FMCC) today released the results of its (PMMS®), showing that mortgage rates held steady after declining for three consecutive weeks.
Sam Khater, Freddie Mac’s chief economist, says, “Mortgage rates remained mostly unchanged this week, while mortgage applications rose 5.3 percent from the previous week. The general decline in rates we have seen recently, combined with rebounding pending home sales, hint at a strong spring homebuying season.”
News Facts
- (FRM) averaged 4.35 percent with an average 0.5 point for the week ending February 28, 2019, unchanged from last week. A year ago at this time, the 30-year FRM averaged 4.43 percent.
- this week averaged 3.77 percent with an average 0.5 point, down from last week when it averaged 3.78 percent. A year ago at this time, the 15-year FRM averaged 3.90 percent.
- (ARM) averaged 3.84 percent with an average 0.3 point, unchanged from last week. A year ago at this time, the 5-year ARM averaged 3.62 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 the . Borrowers may still pay closing costs which are not included in the survey.
Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we’ve made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders, investors and taxpayers. Learn more at , Twitter and Freddie Mac’s blog .
MEDIA CONTACT:
Nicole Flores
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A photo accompanying this announcement is available at
