by Bill McBride on 11/13/2014 05:03:00 PM
Thursday, November 13, 2014
From Freddie Mac: Fixed Mortgage Rates Hovering Near 2014 Lows
Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates little changed from the previous week with the 30-year mortgage still hovering around 4 percent.Click on graph for larger image.
30-year fixed-rate mortgage (FRM) averaged 4.01 percent with an average 0.5 point for the week ending November 13, 2014, down from last week when it averaged 4.02 percent. A year ago at this time, the 30-year FRM averaged 4.35 percent.
Here is a graph of 30 year fixed mortgage rates - according to the PMMS® - for 2010 through 2014 (red).
Mortgage rates are lower this year than last year (blue), and at about the same level as in 2011.
Note: Looking at daily rates from Mortgage News Daily, 30 year rates are at 4.05% today, down from 4.46% one year ago. The MND data is based on actual lender rate sheets, and is mostly "the average no-point, no-origination rate for top-tier borrowers with flawless scenarios". (this tracks the Freddie Mac series very well).
Posted by Bill McBride on 11/13/2014 05:03:00 PM