Advertisement
Singapore markets closed

  • Straits Times Index

    3,322.62
    +14.72 (+0.45%)
     

  • S&P 500

    5,307.01
    -14.40 (-0.27%)
     

  • Dow

    39,671.04
    -201.95 (-0.51%)
     

  • Nasdaq

    16,801.54
    -31.08 (-0.18%)
     

  • Bitcoin USD

    69,674.39
    -491.86 (-0.70%)
     

  • CMC Crypto 200

    1,499.07
    -3.59 (-0.24%)
     

  • FTSE 100

    8,371.09
    +0.76 (+0.01%)
     

  • Gold

    2,370.50
    -22.40 (-0.94%)
     

  • Crude Oil

    78.21
    +0.64 (+0.83%)
     

  • 10-Yr Bond

    4.4340
    +0.0200 (+0.45%)
     

  • Nikkei

    39,103.22
    +486.12 (+1.26%)
     

  • Hang Seng

    18,868.71
    -326.89 (-1.70%)
     

  • FTSE Bursa Malaysia

    1,629.18
    +7.09 (+0.44%)
     

  • Jakarta Composite Index

    7,222.38
    +36.34 (+0.51%)
     

  • PSE Index

    6,659.99
    +52.77 (+0.80%)
     

Mortgage Rates Show Little Movement

Freddie Mac
·2-min read
Freddie Mac
Freddie Mac

Primary Mortgage Market Survey®

U.S. weekly average mortgage rates as of 02/08/2024
U.S. weekly average mortgage rates as of 02/08/2024

MCLEAN, Va., Feb. 08, 2024 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.64 percent.

“Mortgage rates remain stagnant, hovering in the mid-six percent range over the past several weeks,” said Sam Khater, Freddie Mac’s Chief Economist. “The economy and labor market remain strong with wage growth outpacing inflation, which is keeping consumer spending robust. Meanwhile, affordability in the housing market is an ongoing issue due to continued high home prices, elevated mortgage rates and low supply of homes on the market, particularly for first-time and low-income homebuyers.”

ADVERTISEMENT

News Facts

  • The 30-year FRM averaged 6.64 percent as of February 8, 2024, up slightly from last week when it averaged 6.63 percent. A year ago at this time, the 30-year FRM averaged 6.12 percent.

  • The 15-year FRM averaged 5.90 percent, down from last week when it averaged 5.94 percent. A year ago at this time, the 15-year FRM averaged 5.25 percent.

The PMMS® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit. For more information, view our Frequently Asked Questions.

Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability, affordability and equity in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: Website | Consumers | Twitter | LinkedIn | Facebook | Instagram | YouTube

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/8d66c36e-9e0b-4ac6-9e45-c2b8e85fdd1a