July 3 - Freddie Mac released the results of its Primary Mortgage Market Survey, showing average fixed mortgage unchanged or easing slightly lower. Fixed mortgage rates remain lower this week than at the same time last year.
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 links for the Regional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey.
"Mortgage rates were little changed from the previous week and remain below levels seen the same time last year, which should provide some help with homebuyer affordability in many markets," said Frank Nothaft, vice president and chief economist, Freddie Mac. "Recent housing data was better with pending home sales up 6.1 percent in May and overall construction spending showing a slight improvement with private residential spending now up 7.5 percent on yearly basis."