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FHFA Report Shows No Change in 30-Year Mortgage Rates Last Month

by the zac team @ RE/MAX Greater Atlanta

Hello neighbors,

In a recent report released by the Federal Housing Finance Agency (FHFA), the average mortgage rate for conventional mortgages showed no change during the month of May. According to the report, the average interest rate for a 30-year fixed-rate purchase mortgage with a principal of $417,000 or less was 5.12%.

As for the 15-year fixed-rate purchase mortgages of $417,000 or less there was a rate of 4.58% which showed an increase from April's number of 4.52%.

For all mortgage types (fixed and adjustable rate mortgages) the report showed a rate of 4.99% during last month which was a decrease from 5.02% the previous month.

In addition, FHFA reported that the initial fees and charges of loan balances were 0.72% last month. This number was an increase from April's .063%.

The report also measured the average term for loans which showed 27.5 years for the month of May. This number is down from the previous month's number of 27.6 years. 74.1% was the average loan to value ratio last month which was a decrease of 0.2% from April's 74.3%.

Mortgage Rates Show Little Change on Freddie Mac's Primary Mortgage Market Survey

by the zac team @ RE/MAX Greater Atlanta

Hello neighbors,

In Freddie Mac's recent Primary Mortgage Market Survey released yesterday, 30-year fixed mortgage rates showed an average of 4.79 percent with an average 0.8 point for the week ending June 3rd. This number showed a slight increase in comparison to last week's average of 4.78. This time last year, 30-year mortgages averaged 5.29 percent.

As for the 15 year fixed rate mortgages, there was a reported average of 4.20 percent with an average 0.7 point which was a slight decrease from last week's average of 4.21 percent. Last year's average for 15-year FRM's at this time was 4.79 percent.

In addition, the 5-year treasury-indexed hybrid adjustable-rate mortgage (ARM) showed an average of 3.94 percent with an average 0.7 point. This average also showed a decrease in comparison to last week's average of 3.97 percent. Last year's average was 4.85 percent.

1-year Treasury indexed ARM's averaged came in at 3.95 percent with an average point of 0.7 which did not change from last week's average. This time last year, the average for 1-year ARM'swas 4.81 percent.

Displaying blog entries 1-2 of 2

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Photo of Zac Pasmanick  Real Estate
Zac Pasmanick
RE/MAX Metro Atlanta Cityside
600 Virginia Avenue NE
Atlanta GA 30306
Office: 404-564-7272

 

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