Fixed Mortgage Rates Remain at Six-Month Low
Freddie Mac recently released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates easing slightly for the third consecutive week to remain at a six-month low.
“Mortgage rates were little changed amid a week of light economic reports” says Frank Nothaft, vice president and chief economist, Freddie Mac. “These lower than expected rates are welcome news with the spring home-buying season underway and may even provide those who haven’t already refinanced a reason to take another look. Of the few releases, advanced retail sales rose 0.1 percent in April, but below the market forecast consensus of a 0.4 percent increase. Also, the Producer Price Index for final demand rose 0.6 percent on April, which followed a 0.5 percent boost from the prior month.”