Skip to main content

Mortgage Rates Move Up for the First Time in Weeks

Written by Customer Service on . Posted in Public Companies.

Primary Mortgage Market Survey®

U.S. weekly average mortgage rates as of August 12, 2021.

U.S. weekly average mortgage rates as of August 12, 2021.

MCLEAN, Va., Aug. 12, 2021 (GLOBE NEWSWIRE) — Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey (PMMS), showing that the 30-year fixed-rate mortgage (FRM) averaged 2.87 percent.

“Following last Friday’s strong jobs report, which revealed broad based gains in employment and wage growth, mortgage rates are moving higher,” said Sam Khater, Freddie Mac’s Chief Economist. “After dropping for six consecutive weeks, the 30-year fixed-rate mortgage increased by ten basis points week over week. Despite the rise, rates remain very low, particularly given that economic growth is strong and will continue into next year.”

News Facts

  • 30-year fixed-rate mortgage averaged 2.87 percent with an average 0.7 point for the week ending August 12, 2021, up from last week when it averaged 2.77 percent. A year ago at this time, the 30-year FRM averaged 2.96 percent.
  • 15-year fixed-rate mortgage averaged 2.15 percent with an average 0.7 point, up from last week when it averaged 2.10 percent. A year ago at this time, the 15-year FRM averaged 2.46 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.44 percent with an average 0.3 point, up from last week when it averaged 2.40 percent. A year ago at this time, the 5-year ARM averaged 2.90 percent.

The PMMS is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit. 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.

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, investors and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.

MEDIA CONTACT:
Angela Waugaman
703-714-0644
Angela_Waugaman@FreddieMac.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b083c963-cce4-4185-a396-ba13cff55701

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.