Mortgages Analyzed
Mortgages Analyzed
Mortgages Analyzed
Primary Mortgage Market Survey (PMMS)

Current PMMS Rates

Jul 22, Avg. Fees & Change Last 52 week
2021 Rates Points   Week High Low

 30 Yr FRM

2.78 0.70   0.1 2.88 3.18 2.65

 15 Yr FRM

2.12 0.70   0.1 2.22 0.80 0.60

5/1 Yr ARM

2.49 0.40   0.02 2.47 2.54 2.12
Primary Mortgage Market Survey® data is provided by Freddie Mac. Averages are for conforming mortgages with 20% down.

52 Weeks PMMS Rates Trend


PMMS Values

   For the week ending:
(Select Date)

What are Primary Mortgage Market Survey Rates?

Primary Mortgage Market Survey (PMMS)

Primary Mortgage Market Survey (PMMS) rates are representative interest rates for conventional mortgage products based on a survey of lenders on the rates, points, and fees for their mortgage products. PMMS rates reflect the current market conditions and indicate what a borrower can expect when shopping for a mortgage loan.

The rates are published weekly on Thursdays by Freddie Mac on its PMMS webpage. The rates are also published by the Federal Reserve Board as part of their Selected Interest Rates (Weekly) - H.15 publication under rates for Conventional mortgages. It is also available on Bloomberg through NMCMFUS <INDEX>. The NMCMFUS series is the weekly PMMS rates.

PMMS mortgage rates are available for the following loan products:

  1. 30 Year Fixed Rate Mortgage
  2. 15 Year Fixed Rate Mortgage
  3. 5/1 Year Adjustable Rate Mortgage

Historical PMMS Rates and Trends

The 30 year fixed rate mortgage rates were first made available from April 1971. Rates for 1-Yr ARM are available from 1984. 15 year fixed rate mortgage rate is available from January 1991. Rates for 5/1-Yr ARM were made available from January 2005. When using historical rate it is important to recognize that Freddie Mac changed its methodology starting 1998. Previous, Freddie Mac asked lenders for their average rate with one origination point and one discount point. Beginning 1998, Freddie Mac requests the most popular rate and points combination offered to consumers, including the origination fee.


Historical PMMS Rates

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Use of PMMS Rates in Mortgages

PMMS rates are considered one of the most representative and reliable rates for conventional mortgage products. Therefore, they are used as an indicator of current mortgage rates. For this reason, they are used and quoted in number of publications.


How are PMMS Rates Calculated?

Freddie Mac conducts a survey with mortgage lenders each week on the rates and points for their most popular 30-year fixed rate mortgage, 15-year fixed rate mortgage, 5/1 ARMs, and 1-year ARMs. The survey is based on first lien prime conventional conforming mortgages with a loan-to-value of 80 percent. The ARMs are indexed to US Treasury yields and lenders are asked for the initial coupon rate, origination points, and the margin on the ARMs. The rates reflect quotes from the lender and not on recent settlements.

The survey takes place each week from Monday to Wednesday and the rates are published on Thursdays. Approximately 125 lenders are surveyed, where 25 lenders are selected from each of the Freddie Mac’s five regions. Freddie Mac’s 5 regions are:

  1. Northeast: NY, NJ, PA, DE, MD, DC, VA, WV, ME, NH, VT, MA, RI, CT
  2. Southeast: NC, SC, TN, KY, GA, AL, FL, MS, PR, VI
  3. North Central: OH, IN, IL, MI, WI, MN, IA, ND, SD
  4. Southwest: TX, LA, NM, OK, AR, MO, KS, CO, NE, WY
  5. West: CA, AZ, NV, OR, WA, UT, ID, MT, HI, AK, GU

Borrower's Considerations

Use the Rates as a Guide

You may use the PMMS to get a general sense of idea of what to expect when shopping for mortgage. However, the interest rate offered by the lender may be different based on the circumstances of your loan scenario. Regional differences, market expectations, and more importantly your loan scenario would cause the interest rate offered by a lender to be different than the PMMS rates.

For example, if your loan is for a non-conforming amount and based on 10% down payment then your loan may entail a higher interest rate than the PMMS survey. PMMS rates are based on first-lien prime conventional conforming mortgages with a loan-to-value of 80 percent.


Lender's Considerations

Participating in the Survey

You can offer to participate in the PMMS survey. You will need to contact Freddie Mac by completing the online Participant Information Sheet. Freddie Mac representative will contact you for further instructions.

Updated: Jul 22, 2021


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