Mortgage Rates at Standstill

David Deem
714-997-3486


Mortgage rates are at a standstill, making no movement in the past week, according to Freddie Mac's latest Primary Mortgage Market Survey® (PMMS®). The average 30-year, fixed rate is 4.35 percent; the average 15-year, fixed rate is 3.77 percent; and the average five-year, Treasury-indexed hybrid adjustable rate is 3.84 percent.
 
"Mortgage rates remained mostly unchanged this week, while mortgage applications rose 5.3 percent from the previous week," says Sam Khater, chief economist at Freddie Mac. "The general decline in rates we have seen recently, combined with rebounding pending home sales, hint at a strong spring home-buying season."
 
30-Year Fixed
  • Averaging 4.35 percent, with an average 0.5 point
  • No change from the prior week, and down from 4.43 percent the prior year 
15-Year Fixed
  • Averaging 3.77 percent, with an average 0.5 point
  • Down from 3.78 percent the prior week and 3.9 percent the prior year 
5-Year Adjustable
  • Averaging 3.84 percent, with an average 0.3 point
  • No change from the prior week, but up from 3.62 percent the prior year 
Source: Freddie Mac

www.DeemTeam.com
DRE#01266522

Location: Orange, CA, USA

Comments

Post a Comment

Popular posts from this blog

Orange County Housing Summary: June 27, 2023

Image
David Deem Broker Associate 714-997-3486 Dave@DeemTeam.com   ·        The active listing inventory in the past couple of weeks increased by 85 homes, up 4%, and now sits at 2,281. Regardless, it is the lowest level for an end to June since tracking began in 2004. In May, 45% fewer homes came on the market compared to the 3-year average before COVID (2017 to 2019), 1,879 less. Last ye ar, there were 3,491 homes on the market , 1,210 more homes, or 53% higher . The 3-year average before COVID (2017 to 2019) was 6,633, or 191% more, nearly triple. ·        Demand, the number of pending sales over the prior month, increased by 7 pending sales in the past two weeks, nearly unchanged, and now totals 1,602, the lowest level for an end to June since tracking began in 2004. Last year, there were 1,861 pending sales, 16% more than today . The 3-year average before COVID (2017 to 2019) was 2,679, or 67% more . ·        With the supply rising, the Expected Market Time, the number of days to sell
Read more

Orange County Housing Summary:May 2, 2023

Image
David Deem 714-997-3486 Dave@DeemTeam.com   ·        The active listing inventory in the past couple of weeks increased by 34 homes, up 1%, and now sits at 2,076, this first substantial rise of the year. Nonetheless, it is the lowest level at the end of April since tracking began in 2004. In April, 49% fewer homes came on the market compared to the 3-year average before COVID (2017 to 2019), 1,983 less. Last ye ar, there were 2,104 homes on the market, 28 more homes, or 1% higher. The 3-year average before COVID (2017 to 2019) was 6,002, or 189% more. ·        Demand, the number of pending sales over the prior month, increased by 43 pending sales in the past two weeks, up 3%, and now totals 1,706, the lowest end-of-April reading since 2020 during the COVID lockdown. Last year, there were 2,154 pending sales, 26% more than today. The 3-year average before COVID (2017 to 2019) was 2,780, or 63% more. ·        With the inventory and demand rising at a similar rate, the Expected Market Tim
Read more

Orange County Housing Summary: September 20, 2022

Image
  David Deem 714-997-3486 Dave@DeemTeam.com          ·         The active listing inventory in the past couple of weeks decreased by 304 homes, down 2%, and now sits at 3,638, its lowest level since June. In August, there were 30% fewer homes that came on the market compared to the 3-year average prior to COVID (2017 to 2019), 1,054 less. Last ye ar, there were 2,289 homes on the market , 1,349 fewer homes, or 37% less . The 3-year average prior to COVID (2017 to 2019) was 6,520, or 79% more. ·         Demand, the number of pending sales over the prior month, decreased by 75 pending sales in the past two weeks, down 4%, and now totals 1,756. It is still the lowest reading for mid- September since 2007. Last year, there were 2,623 pending sales, 49% more than today . The 3-year average prior to COVID (2017 to 2019) was 2,363, or 35% more . ·         With demand dropping faster than the supply of homes , the Expected Market Time, the number of days to sell all Orange County listin
Read more