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Chart of the Day: 99% are Under Current Rate

Crews Bank & Trust Wealth Management Services 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

Crews Bank & Trust Wealth Management Services
Crews Bank & Trust Wealth Management Services

Experienced professionals from our wealth management services team can help you achieve a bright financial future through investment strategies tailored to you. We’ll show you all of the options available and help you choose the ones best suited to you. We’ll provide high-quality, personal service as we work toward your goals together. Our Portfolio Managers do not receive commissions on trades; our recommendations of investments are based solely on your best interests.

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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