Bellevue Real Estate Mortgage & Refinancing Loans: Fixed Mortgage Rates Edge Higher

Mortgage News

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Kenton Becker
Loan Officer
Office: (206) 423-2552

NMLS #123961 ,
Washington #MLO-123961

Fixed Mortgage Rates Edge Higher

MCLEAN, VA--(Marketwired - Oct 17, 2013) - Freddie Mac (OTCQB: FMCC) released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates edging higher leading up to the federal budget deadline this week.

30-year fixed-rate mortgage (FRM) averaged 4.28 percent with an average 0.7 point for the week ending October 17, 2013, up from last week when it averaged 4.23 percent. A year ago at this time, the 30-year FRM averaged 3.37 percent.
15-year FRM this week averaged 3.33 percent with an average 0.7 point, up from last week when it averaged 3.31 percent. A year ago at this time, the 15-year FRM averaged 2.66 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.07 percent this week with an average 0.4 point, up from last week when it averaged 3.05 percent. A year ago, the 5-year ARM averaged 2.75 percent.
1-year Treasury-indexed ARM averaged 2.63 percent this week with an average 0.4 point, down from last week when it averaged 2.64 percent. At this time last year, the 1-year ARM averaged 2.60 percent.

Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.

"Fixed mortgage rates edged up leading to the federal budget deadline this week. Recent confidence measures depict some of the effects of the government shutdown and uncertainty of the budget impasse. For instance, consumer sentiment in October fell for the second straight month to the lowest reading since January, according to the University of Michigan. Similarly, October's homebuilder confidence fell to a four-month low. However, despite these downturns in confidence, mortgage applications rose for the second consecutive week as of October 11th, elevated by increases in applications for refinancing."

You are receiving this communication because of an existing and/or past business relationship, or because you have consented to receive communications from Land Home. 10-18-13. Equal Housing Opportunity Lender. Rates, Program, Fees, and Guidelines are subject to change without notice. Not a commitment to lend. Land Home only conducts business in states we are approved to. Land Home Financial Services, 22525 SE 64th Place, Suite 220, Issaquah, WA 98027. Washington Consumer Loan License #CL-89331. NMLS ID # 89331. Kenton Becker Licenses: NMLS #123961; Washington #MLO-123961.