Magazine article Mortgage Banking

Month in Review

Magazine article Mortgage Banking

Month in Review

Article excerpt

Month in Review  Mortgage rates have decreased since March 2016. As of April 7, 2016, the annual percentage rate (APR) for a 30-year conforming mortgage averaged at 3.668 percent, down from 3.727 percent the previous month. Moreover, Freddie Mac's Primary Mortgage Market Survey (PMMS) was released this week. According to the PMMS survey, low mortgage rates and a positive employment outlook should support a strong housing market in the second quarter of 2016.  MONTHLY AVERAGES            29-MAY   30-JUN   31-JUL   31-AUG  15-Year Fixed Conforming    3.182    3.355    3.275    3.239 30-Year Fixed Conforming    3.859    4.128    3.999    3.968 30-Year Fixed Jumbo         3.679    3.895    3.767    3.725 5/1 ARM Conforming          2.970    3.024    3.048    3.083 5/1 ARM Jumbo               2.945    3.019    3.018    3.030  MONTHLY AVERAGES            30-SEP   30-OCT   30-NOV   31-DEC  15-Year Fixed Conforming    3.170    3.199    3.292    3.461 30-Year Fixed Conforming    3.885    3.949    4.052    4.157 30-Year Fixed Jumbo         3.568    3.697    3.685    3.793 5/1 ARM Conforming          3.075    3.095    3.228    3. … 
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