Mortgage Rates Show Little Movement
MCLEAN, Va., Aug. 19, 2021 (GLOBE NEWSWIRE) -- (OTCQB: FMCC) today released the results of its (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 2.86 percent.
“Mortgage rates stayed relatively flat this week,” said Sam Khater, Freddie Mac’s Chief Economist. “Housing is in a similar phase of the economic cycle as many other consumer goods. While there is strong latent demand, low supply has caused prices to rise as shortages restrict the amount of sales activity that otherwise would occur.”
News Facts
- averaged 2.86 percent with an average 0.7 point for the week ending August 19, 2021, down slightly from last week when it averaged 2.87 percent. A year ago at this time, the 30-year FRM averaged 2.99 percent.
- averaged 2.16 percent with an average 0.6 point, up slightly last week when it averaged 2.15 percent. A year ago at this time, the 15-year FRM averaged 2.54 percent.
- (ARM) averaged 2.43 percent with an average 0.3 point, down slightly from last week when it averaged 2.44 percent. A year ago at this time, the 5-year ARM averaged 2.91 percent.
The PMMS® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit. 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 .
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Angela Waugaman
703-714-0644
A chart accompanying this announcement is available at
