Tag Archives: Primary Mortgage Market Survey (PMMS)

Rates have inched higher and higher over the past few weeks, finally moving past the 3% mark for the first time since late May.

Mortgage rates rose slightly this week to 2.88%, still below 3%, with prospective homebuyers snatching up all available inventory.

With mortgage rates still in refi-friendly territory, dropping week-over-week, according to Freddie Mac’s weekly report.

Freddie Mac reports mortgage rates leveling off as COVID variants have led to weaker employment, a drop-off in spending, and declining consumer confidence.

While still below the 3% range, the window of opportunity for refis remains wide open; however, high asking prices are turning many away from the purchase market despite the record low rates.

After a slight rise last week, mortgage rates have plateaued as a shift in inventory and pricing is offering more choices for buyers, along with more approachable prices.

Rates remained below 3% but leapt this week following a strong U.S. jobs report and strong growth in the economic sector.

Purchase apps have fallen slightly, however homeowners nationwide continue to jump into the refi market with rates falling to record low territory.

After falling incrementally over the past month, mortgage rates climbed yet remained below the 3% mark for the fifth consecutive week.

Home price data in May resulted in the highest readings in more than 30 years for S&P CoreLogic Case-Shiller recording the metric.