
Mortgage rates are up as seen from the Primary Mortgage Market Survey or PMMS recently released by Freddie Mac. The survey shows an average 5.25% for the 30-year fixed rate mortgage with 0.8 point for the week of February 5 compared to the 5.10% average rate prior to that week. The survey also shows an increase in the 15-year fixed mortgage rate from 4.80% the previous week to 4.92% for the week ending February 5.
Freddie Mac vice president Frank Nothaft said the positive economic reports resulted to an increase in the fixed-rate mortgage interest rates. This can be good news or bad news depending on which side of the fence…
Recent Comments