Michael Tedder

Rates Remain Basically Unchanged

Posted on by TMN Editor
Mortgage rates once again remained basically the same over the last week, averaging 3.10%, Freddie Mac reported Thursday. Freddie’s Primary Mortgage Market Survey (PMMS) found that the 30-year fixed-rate mortgage (FRM) averaged 3.10%, sticking with a weeks-long pattern of hovering around 3.10% or 3.11%. A year ago at this time, the 30-year FRM averaged 2.71%. “Mortgage rates have moved sideways over the last several weeks, fluctuating within a narrow range,” said Sam Khater, Freddie Mac’s Chief Economist.  “Going forward, the path that rates take will be directly impacted by more information about the Omicron variant as it is revealed and the overall trajectory of the pandemic. In the meantime, rates remain low and stable, even as the nation faces declining…

Freddie Mac: Little Change In Interest Rates

Posted on by TMN Editor
Mortgage rates remained basically the same over the last week, averaging 3.11%, Freddie Mac reported Thursday. Freddie’s Primary Mortgage Market Survey (PMMS) found that the 30-year fixed-rate mortgage (FRM) averaged 3.11%, up only a smidge from last week’s 3.10%. A year ago at this time, the 30-year FRM averaged 2.71% “Mortgage rates continue to remain stable notwithstanding volatility in the financial markets,” said Sam Khater, Freddie Mac’s Chief Economist.  “The consistency of rates in the face of changes in the economy is primarily due to the evolution of the pandemic, which lingers and continues to pose uncertainty. This low mortgage rate environment offers favorable conditions for refinancing.” The emerging Omicron variant of Covid-19 has dampened hopes of normalcy returning, and…