Mortgage rates drop to 3.78% | Pound Ridge Real Estate

MCLEAN, VA–(Marketwired – Sep 14, 2017) – Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS^®), showing average mortgage rates remaining largely unchanged from last week’s year-to-date low.

News Facts

• 30-year fixed-rate mortgage (FRM) averaged 3.78 percent with an average 0.5 point for the week ending September 14, 2017, the same as last week. A year ago at this time, the 30-year FRM averaged 3.50 percent.
• 15-year FRM this week averaged 3.08 percent with an average 0.5 point, the same as last week. A year ago at this time, the 15-year FRM averaged 2.77 percent.
• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.13 percent this week with an average 0.4 point, down from last week when it averaged 3.15 percent. A year ago at this time, the 5-year ARM averaged 2.82 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 Definitions. Borrowers may still pay closing costs which are not included in the survey.

Quote
Attributed to Sean Becketti, chief economist, Freddie Mac.
“Following a sharp decline last week, the 10-year Treasury yield rose 11 basis points this week. The 30-year mortgage rate, however, remained unchanged at 3.78 percent. If Treasury yields continue to rise, mortgage rates could see an increase in next week’s survey.”

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 FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.