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News & Press: Industry News

Mortgage Rates Unchanged

Tuesday, May 15, 2018  
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Freddie Mac released the results of its Primary Mortgage Market Survey (PMMS) last Thursday, showing that mortgage rates were unchanged from the prior week. The 30-year fixed mortgage rate remained at 4.55 percent. Freddie Mac’s Chief Economist Sam Khater stated, “While this year’s higher rates – up 50 basis points from a year ago – have put pressure on the budgets of some home shoppers, weak inventory levels are what’s keeping the housing market from a stronger sales pace.”

A 30- year fixed-rate mortgage averaged 4.55 percent with an average 0.5 point for the week ending May 10, 2018. A year ago, at this time, the 30-year FRM averaged 4.05 percent. A 15-year fixed-rate mortgage for the week ending May 10 averaged 4.01 percent with an average 0.4 point, down from the previous week when it averaged 4.03 percent. A year ago, at this time, the 15-year FRM averaged 3.29 percent.

California Land Title Association

1215 K Street #1816 Sacramento, CA 95814-3905
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