MCLEAN, VA — (Marketwired) — 12/04/14 — (OTCQB: FMCC) today released the results of its (PMMS®), showing average fixed mortgage rates down from the previous week. At 3.89 percent, the average 30-year fixed-rate mortgage is at its lowest level since the week of May 30, 2013.
(FRM) averaged 3.89 percent with an average 0.5 point for the week ending December 4, 2014, down from last week when it averaged 3.97 percent. A year ago at this time, the 30-year FRM averaged 4.46 percent.
this week averaged 3.10 percent with an average 0.5 point, down from last week when it averaged 3.17 percent. A year ago at this time, the 15-year FRM averaged 3.47 percent.
(ARM) averaged 2.94 percent this week with an average 0.5 point, down from last week when it averaged 3.01 percent. A year ago, the 5-year ARM averaged 2.99 percent.
averaged 2.41 percent this week with an average 0.4 point, down from last from last week when it averaged 2.44 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.
“Mortgage rates were down across the board on a week of underwhelming economic releases. missed consensus expectations by selling at an annual pace of 458,000 units in October and the National Association of Realtors reported that dipped in October by 1.1 percent. The ADP–s estimate for in November was 208,000 jobs, under expectations of 225,000.”
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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