Interest Rates Fractionally Lower this Week

Data Provided by Freddie Mac's Primary Mortgage Market Survey® Rates listed are for conforming mortgages up to $417,000  Week ending on 05/15/14 Interest Rate Fees & Points Margin  30 Year Fixed Rate 4.20% 0.6 N/A  15 Year Fixed Rate 3.29% 0.6 N/A  5/1-Year Adjustable Rate 3.01% 0.4 2.72  1 Year Adjustable Rate 2.43% 0.5 2.72 For up-to-the-minute local mortgage interest rate information, contact:  Tom Drasler at Direct (714) 478-3153  Week ending on 05/08/14 Interest Rate Fees & Points Margin  30 Year Fixed Rate 4.21% 0.6 N/A  15 Year Fixed Rate 3.32% 0.6 N/A  5/1-Year Adjustable Rate 3.05% 0.5 2.74  1 Year Adjustable Rate 2.43% 0.4 2.71

This is not intended as an advertisement of interest rates as defined by Regulation Z, Section 226.24. Data is provided by Freddie Mac's Primary Mortgage Market Survey (PMMS) and is provided for informational purposes only. The financial and other information contained herein speaks only as of the date posted herein. Freddie Mac, and/or the sender of this information, is not responsible for business decisions made based on the reported results of the PMMS. In general, the data presented were calculated from information collected Monday through Wednesday of the same week that the PMMS is released and may not reflect mortgage rates, fees or points currently available. Average fees and points are provided to reflect the total upfront cost of obtaining a mortgage. Borrowers may still pay closing costs which are not included in the survey.

Weekly Commentary

by Frank Nothaft, vice president and chief economist, Freddie Mac

"Mortgage rates were little changed amid a week of light economic reports. These lower than expected rates are welcome news with the spring home buying season underway and may even provide those who haven't already refinanced possibly a reason to take another look. Of the few releases, advanced retail sales rose 0.1 percent in April, but below the market forecast consensus of a 0.4 percent increase. Also, the Producer Price Index for final demand rose 0.6 percent in April which followed a 0.5 percent boost from the prior month."