Mortgage Rates Continue to Surge
MCLEAN, Va., Oct. 05, 2023 (GLOBE NEWSWIRE) -- (OTCQB: FMCC) today released the results of its (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 7.49 percent.
“Mortgage rates maintained their upward trajectory as the 10-year Treasury yield, a key benchmark, climbed,” said Sam Khater, Freddie Mac’s Chief Economist. “Several factors, including shifts in inflation, the job market and uncertainty around the Federal Reserve’s next move, are contributing to the highest mortgage rates in a generation. Unsurprisingly, this is pulling back homebuyer demand.”
News Facts
- averaged 7.49 percent as of October 5, 2023, up from last week when it averaged 7.31 percent. A year ago at this time, the 30-year FRM averaged 6.66 percent.
- averaged 6.78 percent, up from last week when it averaged 6.72 percent. A year ago at this time, the 15-year FRM averaged 5.90 percent.
The PMMS® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit. For more information, view our .
Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability, affordability and equity in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: | | | | | |
MEDIA CONTACT:
Angela Waugaman
(703)714-0644
A photo accompanying this announcement is available at
