Today Freddie Mac released their Primary Mortgage Market Survey showing the 30 year fixed rate at some of the lowest levels for this year. Freddie’s PMMS is based on survey of various lenders from rates quoted the previous week and is intended to show consumers what the average rate and points for that rate were last week.
This time last year, Freddie Mac’s PMMS reported the 30 year at 4.57% with 0.7 in points.
Freddie Mac predicts that mortgage rates will remain low for the remainder of this year and rise to around 5% by the end of next year. 5% is a very low rate, historically speaking, but doesn’t sound as sweet as a 30 year fixed rate in the low 4’s.
If you’re considering buying or refinancing a home anywhere in Washington state, I’m happy to help you! Click here if I can provide you with a current mortgage rate quote based on your personal scenario.
[…] Mortgage Rates Rise”, which addresses something that I’m often asked and that I also addressed recently on post here. Essentially, the “experts” are predicting that we will mortgage rates trend higher to […]