MCLEAN, VA — (Marketwired) — 10/09/14 — (OTCQB: FMCC) today released the results of its (PMMS®), showing average fixed mortgage rates falling back near their lows for 2014.
(FRM) averaged 4.12 percent with an average 0.5 point for the week ending October 9, 2014, down from last week when it averaged 4.19 percent. A year ago at this time, the 30-year FRM averaged 4.23 percent.
this week averaged 3.30 percent with an average 0.5 point, down from last week when it averaged 3.36 percent. A year ago at this time, the 15-year FRM averaged 3.31 percent.
(ARM) averaged 3.05 percent this week with an average 0.5 point, down from last week when it averaged 3.06 percent. A year ago, the 5-year ARM averaged 3.05 percent.
averaged 2.42 percent this week with an average 0.4 point, unchanged from last week. At this time last year, the 1-year ARM averaged 2.64 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 were down on a week filled with bleak forward from the Federal Reserve and concern over growth in Europe. Despite gloomy vernacular from the Fed, mortgage purchase were up 2 percent on the week and the labor market added 248,000 , beating expectations and lowering headline unemployment to 5.9 percent.”
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. Additional information is available at , Twitter and Freddie Mac–s blog .
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