Myrtle Beach New Home Community NEWS |
News Facts
· The 30-year FRM averaged 6.30% as of April 16, 2026, down from last week when it averaged 6.37%. A year ago at this time, the 30-year FRM averaged 6.83%.
· The 15-year FRM averaged 5.65%, down from last week when it averaged 5.74%. A year ago at this time, the 15-year FRM averaged 6.03%.
Each week, since April 1971, Freddie Mac surveys lenders on the rates and points for their most popular 30-year fixed-rate, 15-year fixed-rate and 5/1 hybrid amortizing adjustable-rate mortgage products. The survey is based on first-lien prime conventional conforming home purchase mortgages with a loan-to-value of 80 percent. In addition, the adjustable-rate mortgage (ARM) products are indexed to U.S. Treasury yields and lenders are asked for both the initial coupon rate and points as well as the margin on the ARM products.
Lenders surveyed each week are a mix of lender types – credit unions, commercial banks and mortgage lending companies – is roughly proportional to the level of mortgage business that each type commands nationwide.
As of November 17, 2022, the process for gathering the data was updated. Instead of surveying lenders, the Primary Mortgage Market Survey® results are now based on actual applications from lenders across the country that are submitted to Freddie Mac when a borrower applies for a mortgage.
Additionally, Freddie Mac will no longer publish fees/points or adjustable rates.
The survey is collected from Thursday through Wednesday and the results are released on Thursdays at 12:00 PM EST.
Freddie Mac (background)
Chartered by Congress in 1970 to support the U.S. housing finance system and help ensure a reliable and affordable supply of mortgage funds across the country.
Rather than lending directly to borrowers, Freddie Mac operates in the U.S. secondary mortgage market, buying loans that meet our standards from approved lenders.
Those lenders are then, in turn, able to provide more loans to qualified borrowers and keep capital flowing into the housing market. Freddie Mac then pools the mortgages it buys into securities, which they sell to investors around the world.
Notes:
· Primary Mortgage Market Survey (PMMS) - a weekly survey of mortgage interest rates in the United States. PMMS rates are representative interest rates for conventional mortgage products based on a survey of lenders on the rates, points, and fees for their mortgage products. PMMS rates reflect the current market conditions and indicate what a borrower can expect when shopping for a mortgage loan.
· Fixed-rate mortgages (FRMs) - home loans, which charge borrowers a fixed interest rate that does not change throughout the loan term.
· Freddie Mac - the Federal Home Loan Mortgage Corporation (FHLMC) that is a publicly traded, government-sponsored enterprise. The FHLMC was created in 1970 to expand the secondary market for mortgages in the US. Along with its sister organization, the Federal National Mortgage Association (Fannie Mae), Freddie Mac buys mortgages, pools them, and sells them as a mortgage-backed security (MBS) to private investors on the open market. This secondary mortgage market increases the supply of money available for mortgage lending and increases the money available for new home purchases
For more information, please visit Freddie Mac at https://www.freddiemac.com/
(843) 940-3609 |