Mortgage Rates Move Lower
(firmenpresse) - MCLEAN, VA -- (Marketwired) -- 09/19/13 -- (OTCQB: FMCC) today released the results of its (PMMS®), showing average fixed mortgage rates moving lower amid signs of a weakening economic recovery, which in part also prompted the Federal Reserve (Fed) to continue its bond buying program. Mortgage rates have increased more than one percentage point since early May when speculation about Fed tapering began.
(FRM) averaged 4.50 percent with an average 0.7 point for the week ending September 19, 2013, down from last week when it averaged 4.57 percent. A year ago at this time, the 30-year FRM averaged 3.49 percent.
this week averaged 3.54 percent with an average 0.7 point, down from last week when it averaged 3.59 percent. A year ago at this time, the 15-year FRM averaged 2.77 percent.
(ARM) averaged 3.11 percent this week with an average 0.5 point, down from last week when it averaged 3.22 percent. A year ago, the 5-year ARM averaged 2.76 percent.
averaged 2.65 percent this week with an average 0.4 point, down from last week when it averaged 2.67 percent. At this time last year, the 1-year ARM averaged 2.61 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 drifted downwards this week amid signs of a weakening economic recovery. rose 0.2 percent in August which was nearly half of July's 0.4 percent increase. In addition, in August grew 0.4 percent, less than the market consensus forecast. And lastly, fell for the second consecutive month in September to the lowest reading since April.
"This, in part, was why the Federal Reserve chose to maintain its MBS and bond-buying program at its September 12th and 13th monetary policy committee meeting. It also the tightening of financial conditions observed in recent months, which in the case of the housing market means the rise in mortgage rates since May."
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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Datum: 19.09.2013 - 14:00 Uhr
Sprache: Deutsch
News-ID 298379
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MCLEAN, VA
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"Mortgage Rates Move Lower"
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