{"id":460803,"date":"2021-03-18T10:03:30","date_gmt":"2021-03-18T14:03:30","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=460803"},"modified":"2021-03-18T10:03:30","modified_gmt":"2021-03-18T14:03:30","slug":"mortgage-rates-continue-to-inch-up","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/mortgage-rates-continue-to-inch-up\/","title":{"rendered":"Mortgage Rates Continue to Inch Up"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"left\">MCLEAN, Va., March  18, 2021  (GLOBE NEWSWIRE) &#8212; <a href=\"http:\/\/www.freddiemac.com\/\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>Freddie Mac<\/u><\/a> (OTCQB: FMCC) today released the results of its <a href=\"http:\/\/www.freddiemac.com\/pmms\/index.html?intcmp=CWS-HP\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>Primary Mortgage Market Survey<sup>\u00ae<\/sup><\/u><\/a> (PMMS<sup>\u00ae<\/sup>), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.09 percent.<\/p>\n<p>\u201cAs expected, mortgage rates continued to inch up but are still hovering around three percent, keeping interested buyers in the market,\u201d said Sam Khater, Freddie Mac\u2019s Chief Economist. \u201cHowever, residential construction has declined for two consecutive months and given the very low inventory environment, competition among potential homebuyers is a challenging reality, especially for first-time homebuyers.\u201d<\/p>\n<p>\n        <strong>News Facts<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li>\n          <a href=\"http:\/\/www.freddiemac.com\/pmms\/pmms_archives.html\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><br \/>\n            <u>30-year fixed-rate mortgage<\/u><br \/>\n          <\/a> averaged 3.09 percent with an average 0.7 point for the week ending March 18, 2021, up from last week when it averaged 3.05 percent. A year ago at this time, the 30-year FRM averaged 3.65 percent.<\/li>\n<li>\n          <a href=\"http:\/\/www.freddiemac.com\/pmms\/pmms_archives.html\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><br \/>\n            <u>15-year fixed-rate mortgage<\/u><br \/>\n          <\/a> averaged 2.40 percent with an average 0.7 point, up from last week when it averaged 2.38 percent. A year ago at this time, the 15-year FRM averaged 3.06 percent.<\/li>\n<li>\n          <a href=\"http:\/\/www.freddiemac.com\/pmms\/pmms_archives.html\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><br \/>\n            <u>5-year Treasury-indexed hybrid adjustable-rate mortgage<\/u><br \/>\n          <\/a> (ARM) averaged 2.79 percent with an average 0.3 point,\u00a0up from last week when it averaged 2.77 percent.\u00a0A year ago at this time, the 5-year ARM averaged 3.11 percent.<\/li>\n<\/ul>\n<p>The PMMS is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit. Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following link for the <a href=\"http:\/\/www.freddiemac.com\/pmms\/weightings\/weightings_series_011.html?type=popup&amp;height=600&amp;width=700\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>Definitions<\/u><\/a>. Borrowers may still pay closing costs which are not included in the survey.<\/p>\n<p>Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we\u2019ve made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders, investors and taxpayers. Learn more at <a href=\"http:\/\/www.freddiemac.com\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">FreddieMac.com<\/a>, Twitter <a href=\"http:\/\/www.twitter.com\/FreddieMac\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">@FreddieMac<\/a> and Freddie Mac\u2019s blog <a href=\"http:\/\/www.freddiemac.com\/blog\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">FreddieMac.com\/blog<\/a>.<\/p>\n<p>\n        <strong>MEDIA CONTACT: <\/strong><br \/>\n        <br \/>\n        <strong>Angela Waugaman<br \/><\/strong><br \/>\n        <strong>703-714-0644<br \/><\/strong><br \/>\n        <strong>Angela_Waugaman@FreddieMac.com<\/strong>\n      <\/p>\n<p>A photo accompanying this announcement is available at <a href=\"https:\/\/www.globenewswire.com\/NewsRoom\/AttachmentNg\/a75623f4-f596-4fb4-ac93-0658c7543cd5\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/www.globenewswire.com\/NewsRoom\/AttachmentNg\/a75623f4-f596-4fb4-ac93-0658c7543cd5<\/a><\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE5MjYzOSM0MDcxMTc4IzIwODExNTY=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/0ae9166c-8fbe-4e2a-b782-a5d0d9746d1b\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>MCLEAN, Va., March 18, 2021 (GLOBE NEWSWIRE) &#8212; Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey\u00ae (PMMS\u00ae), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.09 percent. \u201cAs expected, mortgage rates continued to inch up but are still hovering around three percent, keeping interested buyers in the market,\u201d said Sam Khater, Freddie Mac\u2019s Chief Economist. \u201cHowever, residential construction has declined for two consecutive months and given the very low inventory environment, competition among potential homebuyers is a challenging reality, especially for first-time homebuyers.\u201d News Facts 30-year fixed-rate mortgage averaged 3.09 percent with an average 0.7 point for the week ending March 18, 2021, up from last week when it averaged 3.05 percent. A year &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/mortgage-rates-continue-to-inch-up\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Mortgage Rates Continue to Inch Up&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-460803","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Mortgage Rates Continue to Inch Up - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/mortgage-rates-continue-to-inch-up\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mortgage Rates Continue to Inch Up - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"MCLEAN, Va., March 18, 2021 (GLOBE NEWSWIRE) &#8212; Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey\u00ae (PMMS\u00ae), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.09 percent. \u201cAs expected, mortgage rates continued to inch up but are still hovering around three percent, keeping interested buyers in the market,\u201d said Sam Khater, Freddie Mac\u2019s Chief Economist. \u201cHowever, residential construction has declined for two consecutive months and given the very low inventory environment, competition among potential homebuyers is a challenging reality, especially for first-time homebuyers.\u201d News Facts 30-year fixed-rate mortgage averaged 3.09 percent with an average 0.7 point for the week ending March 18, 2021, up from last week when it averaged 3.05 percent. 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