FMCC Freddie Mac

Mortgage Rates Level Out

Mortgage Rates Level Out

MCLEAN, Va., July 03, 2019 (GLOBE NEWSWIRE) -- (OTCQB: FMCC) today released the results of its  (PMMS®), showing that the mortgage rates stabilized this week after trading within a narrow range over the last month.

Sam Khater, Freddie Mac’s chief economist, says, “We’re seeing a tug of war happen as the fixed income market flashes warning signs while the equities market continues to march higher with optimism.”

“The data suggests the economy is weakening but is still on very solid ground with high consumer confidence and a strong labor market. Closer to home, the housing market continues to slowly improve and gain momentum as we head into the second half of the year, which is good news and should keep the economy growing,” he says.



News Facts

  • (FRM) averaged 3.75 percent with an average 0.6 point for the week ending July 3, 2019, up from last week when it averaged 3.73 percent. A year ago at this time, the 30-year FRM averaged 4.52 percent. 
  • averaged 3.18 percent with an average 0.5 point, up from last week when it averaged 3.16 percent. A year ago at this time, the 15-year FRM averaged 3.99 percent. 
  • (ARM) averaged 3.45 percent with an average 0.4 point, up from last week when it averaged 3.39 percent. A year ago at this time, the 5-year ARM averaged 3.74 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

703-903-4068

A photo accompanying this announcement is available at

EN
03/07/2019

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