MCLEAN, VA — (Marketwired) — 11/07/13 — (OTCQB: FMCC) today released the results of its (PMMS®), showing average fixed mortgage rates moving higher for the first time in three weeks amid more positive economic data out of the manufacturing and non-manufacturing sectors.
(FRM) averaged 4.16 percent with an average 0.8 point for the week ending November 7, 2013, up from last week when it averaged 4.10 percent. A year ago at this time, the 30-year FRM averaged 3.40 percent.
this week averaged 3.27 percent with an average 0.7 point, up from last week when it averaged 3.20 percent. A year ago at this time, the 15-year FRM averaged 2.69 percent.
(ARM) averaged 2.96 percent this week with an average 0.5 point, unchanged from last week. A year ago, the 5-year ARM averaged 2.73 percent.
averaged 2.61 percent this week with an average 0.5 point, down from last week when it averaged 2.64 percent. At this time last year, the 1-year ARM averaged 2.59 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 links for the and . Borrowers may still pay closing costs which are not included in the survey.
Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.
“Fixed mortgage rates rebounded slightly this week on more positive economic data releases. Production in the industry expanded for the fifth month in a row in October to the strongest pace since April 2011. Similarly, the sector grew for the second consecutive month in October and beat the market consensus forecast of a decline. These increases were widespread across the nation, from to to .”
Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation-s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four home borrowers and is one of the largest sources of financing for multifamily housing. For more information please visit and Twitter: .
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