Bellevue Mortgage Lenders - Washington Loan Officers: Primary Mortgage Market Survey

Mortgage News

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

NMLS #123961 ,
Washington #MLO-123961

Primary Mortgage Market Survey

MCLEAN, VA--(Marketwired - Aug 15, 2013) - Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey(R) (PMMS®), showing average fixed mortgage rates largely unchanged from the previous week after bouncing around over the past few weeks on market speculation that the Federal Reserve will taper in its upcoming September monetary policy committee meeting.

30-year fixed-rate mortgage (FRM) averaged 4.40 percent with an average 0.7 point for the week ending August 15, 2013, unchanged from last week. Last year at this time, the 30-year FRM averaged 3.62 percent.
15-year FRM this week averaged 3.44 percent with an average 0.6 point, up from last week when it averaged 3.43 percent. A year ago at this time, the 15-year FRM averaged 2.88 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.23 percent this week with an average 0.5 point, up from last week when it averaged 3.19 percent. A year ago, the 5-year ARM averaged 2.76 percent.
1-year Treasury-indexed ARM averaged 2.67 percent this week with an average 0.4 point, up from last week when it averaged 2.62 percent. At this time last year, the 1-year ARM averaged 2.69 percent.

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

"Fixed mortgage rates have been bouncing around over the past few weeks on market speculation that the Fed will taper some of its monetary stimulus. In fact, 65 percent of economists surveyed by Bloomberg expect the Fed to reduce the amount of bond purchases at its September 17th and 18th monetary policy committee meetings. Currently, mortgage rates on 30-year fixed mortgages are 1.1 percentage points above their all-time low set on November 21, 2012, which translates into $125 more per month in mortgage payments on a $200,000 loan."

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. 08-19-13. 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.