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Mortgage News

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Kenton Becker
Loan Officer
Office: (206) 423-2552

NMLS #123961 ,
Washington #MLO-123961

Mortgage Rates up on Signs of Stronger
Economic Recovery

MCLEAN, VA--(Marketwired - Sep 5, 2013) - Freddie Mac (OTCQB: FMCC) released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates moving back up near their highs for the year amid recent data pointing to signs of a stronger economic recovery, as well as positive news coming from the housing and manufacturing sectors.

30-year fixed-rate mortgage (FRM) averaged 4.57 percent with an average 0.7 point for the week ending September 5, 2013, up from last week when it averaged 4.51 percent. A year ago at this time, the 30-year FRM averaged 3.55 percent.
15-year FRM this week averaged 3.59 percent with an average 0.7 point, up from last week when it averaged 3.54 percent. A year ago at this time, the 15-year FRM averaged 2.86 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.28 percent this week with an average 0.5 point, up from last week when it averaged 3.24 percent. A year ago, the 5-year ARM averaged 2.75 percent.
1-year Treasury-indexed ARM averaged 2.71 percent this week with an average 0.5 point, up from last week when it averaged 2.64 percent. At this time last year, the 1-year ARM averaged 2.61 percent.

Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.

"Mortgage rates edged up this week on signs of a stronger economic recovery. Real GDP was revised upwards to 2.5 percent growth in the second quarter of this year. In addition, residential construction spending rose for a ninth consecutive month in July. Lastly, the manufacturing industry expanded by the fastest pace in August since June 2011."

You are receiving this communication because of an existing and/or past business relationship, or because you have consented to receive communications from Land Home. 09-09-13. Equal Housing Opportunity Lender. Rates, Program, Fees, and Guidelines are subject to change without notice. Not a commitment to lend. Land Home only conducts business in states we are approved to. Land Home Financial Services, 22525 SE 64th Place, Suite 220, Issaquah, WA 98027. Washington Consumer Loan License #CL-89331. NMLS ID # 89331. Kenton Becker Licenses: NMLS #123961; Washington #MLO-123961.