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After months of low rates some of which broke long-time records, mortgage interest rates shot up drastically during the week ended June 4. Freddie Mac released the results of its Primary Mortgage Market survey this morning, showing that the 30-year fixed-rate mortgage (FRM) for the week averaged 5.29...
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Freddie Mac released its 22nd annual Adjustable Rate Mortgage (ARM) Survey last week. The study found that traditional 1-year ARMs have lost even more market share to hybrid ARMs and that lenders have continued, even increased, initial period discounts to borrowers to keep ARMs viable in the mortgage...