MCLEAN, VA — (Marketwired) — 10/30/14 — (OTCQB: FMCC) today released the results of its (PMMS®), showing average fixed mortgage rates moving higher across the board this week and rebounding from the lowest rates of the year.
(FRM) averaged 3.98 percent with an average 0.5 point for the week ending October 30, 2014, up from last week when it averaged 3.92 percent. A year ago at this time, the 30-year FRM averaged 4.10 percent.
this week averaged 3.13 percent with an average 0.5 point, up from last week when it averaged 3.08 percent. A year ago at this time, the 15-year FRM averaged 3.20 percent.
(ARM) averaged 2.94 percent this week with an average 0.5 point, up from last week when it averaged 2.91 percent. A year ago, the 5-year ARM averaged 2.96 percent.
averaged 2.43 percent this week with an average 0.4 point, up from last week when it averaged 2.41 percent. At this time last year, the 1-year ARM averaged 2.51 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.
“Mortgage rates grew across the board this week, rebounding from the lowest rates of the year. grew at an annual rate of 467,000 sales in September, the fastest rate observed during the recovery. Meanwhile, the National S&P Case-Shiller House Price grew at a seasonally adjusted annual rate of 0.4 percent in August.”
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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