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FEDERAL HOME LOAN MORTGAGE CORPORATION

(FMCC)
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Mortgage Rates Inch Up But Stay Below Three Percent

06/03/2021 | 10:01am EDT

MCLEAN, Va., June 03, 2021 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 2.99 percent.

“Home prices continue to accelerate while inventory remains low and new home construction cannot happen fast enough,” said Sam Khater, Freddie Mac’s Chief Economist. “There are many potential homebuyers who would like to take advantage of low mortgage rates, but competition is strong. For homeowners however, continued low rates make refinancing an option worth considering.”

News Facts

  • 30-year fixed-rate mortgage averaged 2.99 percent with an average 0.6 point for the week ending June 3, 2021, up from last week when it averaged 2.95 percent. A year ago at this time, the 30-year FRM averaged 3.18 percent.
  • 15-year fixed-rate mortgage averaged 2.27 percent with an average 0.6 point, unchanged from last week. A year ago at this time, the 15-year FRM averaged 2.62 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.64 percent with an average 0.2 point, up from last week when it averaged 2.59 percent. A year ago at this time, the 5-year ARM averaged 3.10 percent.

The PMMS is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit. 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 link for the Definitions. Borrowers may still pay closing costs which are not included in the survey.

Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we’ve made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders, investors and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.

MEDIA CONTACT:
Angela Waugaman
703-714-0644
Angela_Waugaman@FreddieMac.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a555d2f6-40e5-40fb-a6c1-bbad79cd4fac


Primary Logo

Primary Mortgage Market Survey®

U.S. weekly average mortgage rates as of June 3, 2021.

ę GlobeNewswire 2021
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Net income 2021 8 813 M - -
Net Debt 2021 - - -
P/E ratio 2021 0,40x
Yield 2021 -
Capitalization 3 479 M 3 479 M -
Capi. / Sales 2021 0,28x
Capi. / Sales 2022 0,23x
Nbr of Employees 6 922
Free-Float 89,6%
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Michael J. DeVito Chief Executive Officer & Director
Michael Thomas Hutchins President
Christian Mark Lown Chief Financial Officer & Executive Vice President
S. Sara Mathew Non-Executive Chairman
Frank Nazzaro Chief Information Officer & Executive VP