Federal mortgage: mortgage rates show little change

MCLEAN, Virginia, September 23, 2021 (GLOBE NEWSLETTER) – Freddie mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey (PMMS), showing that the 30-year fixed rate mortgage (FRM) averaged 2.88%.

“The slowdown in economic growth around the world has caused a flight to the quality of we financial markets, ”said Sam khater, Chief Economist of Freddie Mac. “This has led to an increase in purchases by foreign investors of we Treasury bills, which keeps mortgage rates in place, despite the increasing dispersion of inflation between different consumer goods and services. “

Khater continued, “On the housing front, buyers continue to grab available inventory, which has improved slightly, and home price growth is moderating. However, the next few months will be hectic as several home builders report they will provide less supply due to labor and material shortages. “

News Facts

  • 30-year fixed rate mortgage averages 2.88% with an average of 0.7 points for the week ending September 23, 2021, up slightly from last week when it averaged 2.86%. Around the same time a year ago, the 30-year FRM was on average 2.90%.
  • The 15-year fixed-rate mortgage averaged 2.15% with an average of 0.6 percentage points, up from last week when it averaged 2.12%. Around the same time a year ago, the 15-year FRM averaged 2.40%.
  • 5 years Treasury– indexed hybrid mortgage loan at adjustable rate (ARM) was on average 2.43% with an average of 0.3 points, down from last week when it averaged 2.51%. A year ago at this time, the 5-year MRA was on average 2.90%.

PMMS focuses on conventional, compliant, fully amortizing home purchase loans for borrowers who have put 20% down and have excellent credit. Average engagement 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 definitions. Borrowers can still pay closing costs that are not included in the survey.

Freddie mac makes the home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we made housing more accessible and affordable for buyers and renters in communities across the country. We are building a better housing finance system for buyers, tenants, lenders, investors and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac, and Freddie Mac’s blog FreddieMac.com/blog.

A photo accompanying this announcement is available on https://www.globenewswire.com/NewsRoom/AttachmentNg/dd800604-ebde-4780-9bf4-d74ca68cd595

Angela Waugaman
[email protected]

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Primary Mortgage Market Survey®
we average weekly mortgage rates at September 23, 2021.

Source: Freddie mac

2021 GlobeNewswire, Inc., source Press Releases

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