Freddie Mac (FMCC) Reports 30-year FRM Average Dropped to 7.08%

Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 7.08 percent.

“As the housing market adjusts to rapidly tightening monetary policy, mortgage rates again surpassed seven percent,” said Sam Khater, Freddie Mac’s Chief Economist. “The housing market is the most interest-rate sensitive segment of the economy, and the impact rates have on homebuyers continues to evolve. Home sales have declined significantly and, as we approach year-end, they are not expected to improve.”

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