Freddie Mac (OTCQB: FMCC) released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates largely unchanged from the previous week amid little movement in financial markets. The 30-year fixed rate mortgage has averaged below four percent for the fifth consecutive week.
30-year fixed-rate mortgage (FRM) averaged 3.93 percent with an average 0.6 point for the week ending August 20, 2015, down from last week when it averaged 3.94 percent. A year ago at this time, the 30-year FRM averaged 4.10 percent.
15-year FRM this week averaged 3.15 percent with an average 0.6 point, down from last week when it averaged 3.17 percent. A year ago at this time, the 15-year FRM averaged 3.23 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.94 percent this week with an average 0.5 point, up from last week when it averaged 2.93 percent. A year ago, the 5-year ARM averaged 2.95 percent.
1-year Treasury-indexed ARM averaged 2.62 percent this week with an average 0.3 point, unchanged from last week. At this time last year, the 1-year ARM averaged 2.38 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 the Regional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey.