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Chart of the Day: 99% are Under Current Rate

Samuel A. Kiburz, Senior Vice President, Chief Investment Officer Apr 11, 2023
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.
Chart of the Day

About the Author

Samuel A. Kiburz, Senior Vice President, Chief Investment Officer
Samuel A. Kiburz, Senior Vice President, Chief Investment Officer

Samuel serves as Senior Vice President, Chief Investment Officer for the Crews family of banks. He manages the individual investment holdings of his clients, including individuals, families, foundations, and institutions throughout the State of Florida. Samuel has been involved in banking since 1996 and has more than 20 years experience working in wealth management.

Investments are not a deposit or other obligation of, or guaranteed by, the bank, are not FDIC insured, not insured by any federal government agency, and are subject to investment risks, including possible loss of principal.

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