This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Freddie Mac: Year-End Mortgage Rates Show Marginal Change

Stocks in this article: FMCC

Freddie Mac / Federal Home Loan Mortgage Corp OTCBB:FMCC declared that interest rates on long term, fixed rate mortgages were marginally up this week ending Thursday. Rates for 30-year fixed rate mortgages ticked up from 4.47% to 4.48% with an average 0.7 points, in the past week, says a report from Bloomberg.

Freddie Mac: Mortgage rates changed marginally

In the previous year, rates for the 30 year fixed rate mortgages averaged 3.35%. Separately, rates for 15 year fixed-rate mortgages increased from 3.51% to 3.52% with an average 0.7% points this week compared to the same week, previous year when 15 year, fixed-rate loans averaged 2.65%.

In the segment of shorter duration loans, rates for five years Treasury-indexed, hybrid adjustable-rate mortgages came in at 3% this week with an average 0.4% point. In the previous week, rates averaged 2.96% compared to 2.7% in the previous year.

Rates for one-year treasury-indexed, adjustable-rate loans averaged 2.56% in the current week, which is a decline from 2.57% in the week ago. One year loan came in at 0.5 point. In the same week a year ago, rates for the one-year, adjustable-rate loans averaged 2.56%.

Frank Nothaft, Freddie Mac / Federal Home Loan Mortgage Corp OTCBB:FMCC’s vice president and chief economist said that the mortgage rates went through some minor changes. “Real GDP was revised upwards to 4.1 percent growth in the third quarter." He added that the existing home sales declined 4.3% to a seasonally adjusted annual rate of 4,900,000 in November.

Freddie Mac: Shutdown might have affected home sales

The latest data from the Mortgage Bankers Association MBA revealed that mortgage applications declined last week also. Meanwhile, the Market Composite Index, which is a gauge for total loan application volume, declined 6.3%. The refinance Index dropped 8% and Purchase Index dropped 4%.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs