Admin

HELP! How Can I Keep Up With the Rates?

By
Real Estate Agent with LADDER Realty
This is a good way to keep up with rates!

http://www.freddiemac.com/dlink/html/PMMS/display/PMMSOutputYr.jsp

About the Primary Mortgage Market Survey®

Freddie Mac's Primary Mortgage Market Survey® (PMMS®) surveys lenders each week on the rates and points for their most popular 30-year fixed-rate, 15-year fixed-rate, 5/1 hybrid amortizing adjustable-rate, and 1-year amortizing adjustable rate mortgage products. The survey is based on first-lien prime conventional conforming mortgages with a loan-to-value of 80 percent. In addition, the adjustable-rate mortgage (ARM) products are indexed to constant-maturity U.S. Treasury rates and lenders are asked for the both the initial coupon rate and points as well as the margin on the ARM products.

Since April 1971, Freddie Mac has surveyed lenders across the nation weekly to determine the average 30-year fixed-rate mortgage rate; in 1984, the 1-year ARM was added to the survey and the 15-year fixed-rate mortgage rate was included beginning in 1991. In January 2005, Freddie Mac added a 5/1 hybrid ARM series to the survey. Currently, 125 lenders are surveyed each week and the mix of lender types - thrifts, commercial banks and mortgage lending companies - is roughly proportional to the level of mortgage business that each type commands nationwide.

The survey is collected from Monday through Wednesday and the results are posted on Thursdays. Average rates and points (and margin for ARMs) for each product are reported for the nation and the five Freddie Mac regions. The PMMS results are published extensively in the media, used in several government agency reports, and many other industry-related publications. For example, the Federal Reserve Board includes the average 30-year rate on its list of Selected Interest Rates (Statistical Release H.15) as the measure of conventional mortgage rates.

The Primary Mortgage Market Survey has evolved into the foremost reliable, representative source of regional and national mortgage rate trends and is relied upon by the mortgage industry and the public in gauging market conditions and evaluating mortgage loan options.

I hope you find this informative and useful....

Kindest Regards,

George Baehr - City Mortgage

Show All Comments Sort:
Felipe Crook
Realty One Group - Las Vegas, NV

Perfect website! Thanks for sharing. Felipe Crook

 

Oct 03, 2007 05:01 AM
Christina Botteri
REeBroker - Roseville, CA

Hi LaRita,

Welcome to ActiveRain - I'm glad you joined. :)

I hope you have as much fun as I do; but be careful.  There's a reason why some of us call it "AddictiveRain!" (ha!)

Enjoy!!!

Best,

Christina

Oct 03, 2007 10:02 AM