Freddie Mac reports last week’s average mortgage rates unchanged

The Freddie Mac PMMS reveals little change in mortgage interest rates over the last week with the 30 year mortgage rate averaging 4.02% with 0.7 points.


From Sean Becketti, Freddie Mac Chief Economist :

“Mortgage rates were little changed this week. The rate on 30-year fixed-rate mortgages was 4.02 percent, an increase of just 2 basis points from the previous week. Economic releases confirmed increasing strength in housing. Existing home sales increased 5.1 percent in May to an annual pace of 5.35 million units and new home sales [PDF] increased 2.2 percent to an annual pace of 546,000 units. Buyers appear anxious to purchase homes before the expected increase in interest rates later this year. Given the tight inventory of homes for sale, a 5.1-month supply at the current sales pace, home prices are being bid up.”

As I write this post, June 25, 2015 at 9:20 am, I’m quoting:

4.000% (apr 4.125%) priced with 0.879 points.

Rate quoted above is based on a 30 year fixed conventional mortgage with a sales price of $500,000, 20% down payment with a loan amount of $400,000. Home buyers have excellent credit with scores of 740 or higher and the purchase in greater Seattle has a closing date of July 31, 2015 or before. Rates quoted are subject to credit approval and may (will) change at anytime. Click here if I can provide you with a current rate quote for your home located anywhere in Washington state.

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