Categories: Bedford

Freddie reports average mortgage rates rise | #Bedford Real Estate

Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates following 10-year Treasury yields higher.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 3.80 percent with an average 0.6 point for the week ending May 7, 2015, up from last week when it averaged 3.68 percent. A year ago at this time, the 30-year FRM averaged 4.21 percent.
  • 15-year FRM this week averaged 3.02 percent with an average 0.6 point, up from last week when it averaged 2.94 percent. A year ago at this time, the 15-year FRM averaged 3.32 percent.
  • 1-year Treasury-indexed ARM averaged 2.46 percent this week with an average 0.4 point, down from last week when it averaged 2.49 percent. At this time last year, the 1-year ARM averaged 2.43 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 theRegional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey.

Quotes
Attributed to Len Kiefer, deputy chief economist, Freddie Mac.

“Mortgage rates rose this week to the highest level since the week of March 12 as a selloff in German bunds helped drive U.S. Treasury yields above 2.2 percent. The U.S. trade deficit reached $51.4 billion in March to the highest level since 2008. Also, the Institute for Supply Management’s manufacturing index was unchanged in April, but manufacturing employment contracted as the index fell below 50 for the first time since May 2013.”

Robert Paul

Robert is a realtor in Bedford NY. He has been successfully working with buyers and sellers for years. His local area of expertise includes Bedford, Pound Ridge, Armonk, Lewisboro, Chappaqua and Katonah. When you have a local real estate question please call 914-325-5758.

Recent Posts

Out of Sevice with brain injury since November.

Just back out of hospital in early March for home recovery. Therapist coming today.

2 years ago

Existing home sales down 28% | Katonah Real Estate

Sales fell 5.9% from September and 28.4% from one year ago.

2 years ago

Single-Family Housing Contraction Continues | Bedford Hills Real Estate

Housing starts decreased 4.2% to a seasonally adjusted annual rate of 1.43 million units in…

2 years ago

Closed Median Sale Price in Hudson Valley/NYC Markets Declined by 2.50% in October | Bedford Real Estate

OneKey MLS reported a regional closed median sale price of $585,000, representing a 2.50% decrease…

2 years ago

Building Materials Prices Decline for Second Consecutive Month | Pound Ridge Real Estate

The prices of building materials decreased 0.2% in October

2 years ago

Mortgage rates drop with inflation drop | Bedford Corners Real Estate

Mortgage rates went from 7.37% yesterday to 6.67% as of this writing.

2 years ago

This website uses cookies.