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Mortgage Rates Move Higher






MCLEAN, VA — (Marketwired) — 03/16/17 — (OTCQB: FMCC) today released the results of its (PMMS®), showing average mortgage rates rising for the second consecutive week.

(FRM) averaged 4.30 percent with an average 0.5 point for the week ending March 16, 2017, up from last week when it averaged 4.21 percent. A year ago at this time, the 30-year FRM averaged 3.73 percent.

this week averaged 3.50 percent with an average 0.5 point, up from last week when it averaged 3.42 percent. A year ago at this time, the 15-year FRM averaged 2.99 percent.

(ARM) averaged 3.28 percent this week with an average 0.4 point, up from last week when it averaged 3.23 percent. A year ago, the 5-year ARM averaged 2.93 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 link for the . Borrowers may still pay closing costs which are not included in the survey.

Attributed to Sean Becketti, chief economist, Freddie Mac.

“As expected, the FOMC announced its first rate hike of 2017 and hinted at additional increases throughout the remainder of the year. Although our survey was conducted prior to the Fed–s decision, the release of the February jobs report all but guaranteed a rate hike and boosted the 30-year mortgage rate 9 basis points to 4.30 percent this week. Increasing inflation, continued gains in the labor market and the Fed–s intentions for further rate increases — all three will keep pushing mortgage rates up this year.”

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 and taxpayers. Learn more at , Twitter and Freddie Mac–s blog .

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Posted by on Mar 16 2017. Filed under Commercial & Investment Banking. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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