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Not Much Change in the Mortgage Rates
August 12, 2016

Every week Freddie Mac surveys lenders on the rates and points for the most popular mortgages. The ARM's are indexed to the U.S. Treasury yields. Nearly 125 lenders are surveyed weekly from a strong mix of lenders types including; credit unions, thrifts, mortgage lending companies and commercial banks.

This weeks survey reveals the following:

30-year fixed-rate mortgage (FRM) averaged 3.45 percent with an average 0.5 point for the week ending August 11, 2016, showing a slight rise from last week when it averaged 3.43 percent.

15-year FRM this week averaged 2.76 percent with an average 0.5 point, showing a rise from last week when it averaged 2.74 percent.

5/1-year ARM averaged 2.74 percent this week with an average 0.5 point and a 2.74 margin, slightly up from last week when it averaged 2.73 percent.

Not a whole lot of action with the mortgage rates this week. According to Sean Becketti, chief economist at mortgage giant, Freddie Mac "A surprisingly strong July jobs report showed 255,000 jobs added and 0.3 percent wage growth from last month, exceeding many experts' expectations. In response, the 10-Year Treasury yield rose to its highest level since June and the 30-year fixed-rate mortgage increased 2 basis points to 3.45 percent."

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