Mortgage Rates Bounce Back Up

MCLEAN, VA -- (Marketwired) -- 01/11/18 -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average mortgage rates rising across the board.

News Facts

• 30-year fixed-rate mortgage (FRM) averaged 3.99 percent with an average 0.5 point for the week ending January 11, 2018, up from last week when it averaged 3.95 percent. A year ago at this time, the 30-year FRM averaged 4.12 percent.
• 15-year FRM this week averaged 3.44 percent with an average 0.5 point, up from last week when it averaged 3.38 percent. A year ago at this time, the 15-year FRM averaged 3.37 percent.
• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.46 percent this week with an average 0.4 point, up from last week when it averaged 3.45 percent. A year ago at this time, the 5-year ARM averaged 3.23 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 Len Kiefer, Deputy Chief Economist. "After dipping slightly last week, Treasury yields surged this week amidst sell-offs in the bond market. The 10-year Treasury yield, for instance, reached its highest point since March of last year. Mortgage rates followed Treasury yields and ticked up modestly across the board. The 30-year fixed-rate mortgage averaged 3.99 percent, up 4 basis points from a week ago."

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.

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Paul Frommelt
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Source: Freddie Mac

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