30 Year Mortgage Rate around 4.40% reports Freddie Mac survey | Bedford NY Homes

Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS^®), showing average fixed mortgage rates changing little on the heels of the July employment report which came in below the market consensus forecast. Since spiking more than a full percentage point in early May over taper talk, the average 30-year fixed-rate mortgage has seesawed week-to-week, while remaining below its recent high of 4.51 percent in mid-July.

News Facts

• 30-year fixed-rate mortgage (FRM) averaged 4.40 percent with an average 0.7 point for the week ending August 8, 2013, up from last week when it averaged 4.39 percent. Last year at this time, the 30-year FRM averaged 3.59 percent.
• 15-year FRM this week averaged 3.43 percent with an average 0.7 point, unchanged from last week. A year ago at this time, the 15-year FRM averaged 2.84 percent.
• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.19 percent this week with an average 0.5 point, up from last week when it averaged 3.18 percent. A year ago, the 5-year ARM averaged 2.77 percent.
• 1-year Treasury-indexed ARM averaged 2.62 percent this week with an average 0.3 point, down from last week when it averaged 2.64 percent. At this time last year, the 1-year ARM averaged 2.65 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 Regional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey.