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Chart of the Day: 99% are Under Current Rate

Blue bar chart shows that 99% of loans have a lower rate than the current PMMS rate

Contents

Today's Chart is from the Primary Mortgage Market Survey (PMMS) from Freddie Mac, the government agency that provides mortgage loans.The survey is comprised of conventional, conforming, fully-amortizing, home purchase loans, with 20% down and excellent credit. 99% of loans have a lower rate than the current offered rate, and one in three has a rate of 3% or less. The theory is these favorable terms may reduce incentive for people to sell their homes.

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