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.