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Freddie’ Mac’s Primary Mortgage Market Survey showed:

  • 30-year fixed-rate mortgages (FRMs) were unchanged from last week, averaging 3.87 percent with an average 0.6 point. A year ago, the 30-year FRM average was 4.14 percent
  • 15-year FRMs averaged 3.08 percent with an average 0.5 point, down from last week’s 3.11 percent. One year ago, the 15-year FRM average was 3.23 percent.
  • The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) average was 2.96 percent this week with an average 0.5 point, up from 2.9 percent last week. One year ago, the five-year ARM average was 2.93 percent.
  • The one-year Treasury-indexed ARM average was 2.59 percent this week with an average 0.2 point, up from 2.5 percent last week. Last year, the one-year ARM average was 2.4 percent.

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“Mortgage rates were little changed for the week following mixed economic data before bond yields began moving higher Wednesday afternoon,” said Freddie Mac’s deputy chief economist, Len Kiefer, in a statement. “Although real GDP growth was revised down to a negative 0.7 percent annualized rate, the Institute for Supply Management reported a modest growth in the manufacturing sector in May. If the Wednesday surge of Treasury yields persists, the impact on mortgage rates is likely to result in a bout of affordability shock to many housing markets across the country.”

The Mortgage Credit Availability Index (MCAI) reported by Mortgage Bankers Association showed:

  • The MCAI increased to 122.6 in May, up 0.5 percent. (The index was benchmarked to 100 in March 2012.)
  • Of four component indices, the Conventional MCAI and Conforming MCAI saw the greatest easing; both were up 1.2 percent over the month.
  • The Government MCAI was up 0.1 percent.
  • The Jumbo MCAI decreased 0.1 percent.

“Credit availability eased somewhat in May, largely as a result of increased availability of cash out refinance loans and greater availability of FHA 203(k) home improvement loans,” said Mike Fratantoni, MBA’s chief economist, in a statement.

Total MCAI - May 2015

Total MCAI – May 2015

The just-released 2014 National Association of Realtors Member Profile showed:

  • Realtors closed one less transaction in 2014 on average and made nearly $2,000 less when compared to 2013.
  • A typical Realtor closed 11 transactions last year and achieved a median gross income of $45,800.
  • On average, Realtors with more than 16 years of experience earned $68,200 and closed 13 transactions. For these members, repeat business accounted for 40 percent of their activity and referrals for an additional 24 percent.
  • Income also varied by license type, with members licensed as brokers earning the most, $65,300. In 2013, this figure stood at $66,300. Median earnings for sales agents decreased $1,100 from 2013 to $33,900.

Email market updates to press@inman.com.

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