Freddie Mac’s Primary Mortgage Market Survey®

(Updated Weekly on Thursdays)

Freddie Mac's Primary Mortgage Market Survey®
 30YR FRM15YR FRM5YR ARM
Copyright 2019, Freddie Mac. Averages are for conforming mortgages with 20% down.
Avg. 3.73 3.21 3.49
Fees & Points 0.5 0.5 0.4

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Freddie Mac’s Primary Mortgage Market Survey® (PMMS®) surveys lenders each week for rates and points on their most popular 30-year fixed-rate, 15-year fixed-rate, 5/1 hybrid amortizing adjustable-rate, and 1-year amortizing adjustable rate mortgage products. The survey is based on first-lien prime conventional conforming mortgages with a loan-to-value of 80 percent.  In addition, the adjustable-rate mortgage (ARM) products are indexed to constant-maturity U.S. Treasury rates and lenders are asked for both the initial coupon rate and points as well as the margin on the ARM products. The survey is usually collected from Monday through Wednesday and the results are posted on Thursdays.  The Primary Mortgage Market Survey has evolved into the foremost reliable, representative source of regional and national mortgage rate trends and is relied upon by the mortgage industry and the public in gauging market conditions and evaluating mortgage loan options.

Essentially, Freddie Mac surveys 125 lenders each week and asks for that week’s most frequently quoted home loan rates, along with the associated points and loan fees.  Mortgage lenders are surveyed from Thursday to the following Wednesday.  Lenders tend to respond Monday, Tuesday and Wednesday.  For borrowers, it is a great barometer of recent mortgage loan rates.  Although, the survey should be taken for what it is.  It is an average of what lenders say they are predominately quoting for the previous week.  It does not report mortgage rates as of a particular day, nor does it report interest rates for approved or closed loans.

Reasonable efforts are made to maintain accurate information. However, information could contain errors or inaccuracies and is presented without warranty. No liability is assumed for errors or omissions.