| Weekly Mortgage Interest Rate Report June 4, 2015 | ||||||||||||||||||||||
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This is not intended as an advertisement of interest rates as defined by Regulation Z, Section 226.24. Data is provided for informational purposes only. The financial and other information contained herein speaks only as of the date posted herein. Freddie Mac, and/or the sender of this information, is not responsible for business decisions made based on the reported results of the PMMS. In general, the data presented were calculated from information collected Monday through Wednesday of the same week that the PMMS is released and may not reflect mortgage rates, fees or points currently available. Average fees and points are provided to reflect the total upfront cost of obtaining a mortgage. Borrowers may still pay closing costs which are not included in the survey.
“Mortgage rates were little changed for the week following mixed economic data before bond yields began moving higher Wednesday afternoon. Although real GDP growth was revised down to a negative 0.7 percent annualized rate, the Institute for Supply Management reported a modest growth in the manufacturing sector in May. If the Wednesday surge of treasury yields persists, the impact on mortgage rates is likely to result in a bout of affordability shock to many housing markets across the country.”– Len Kiefer, deputy chief economist, Freddie Mac
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