How does FreeRateUpdate's "As Low As" network rate compare to the Freddie Mac PMMS average?
FreeRateUpdate's "As Low As" rate is the best rate and APR we can verify being offered by a lender or broker in our network on a given day. The table and chart below compare it against the Freddie Mac Primary Mortgage Market Survey (PMMS), the widely cited weekly national average based on a lender survey. The two measure different things: PMMS is a survey average across many lenders, while our "As Low As" figure is a single best verified offer, so it will often sit below the PMMS average.
What is the "As Low As" rate, and how is it different from an advertised teaser rate?
The "As Low As" rate is the lowest rate and corresponding APR we can currently verify a lender or broker in FreeRateUpdate's network is actually offering, sourced from our network's own daily advertised-rate snapshots. It is not a quote for any individual borrower, actual rate and APR depend on credit profile, loan amount, property, and other qualification factors, and it is not a guarantee that any given lender's rate remains the same day to day.
What is FreeRateUpdate's current "As Low As" rate, by loan type?
Rate data is temporarily unavailable right now. Please check back soon.
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Why does the network rate sit below the Freddie Mac PMMS average?
Freddie Mac's PMMS is a survey of a broad panel of lenders, and it reports an average, so individual lenders in any network, including ours, may be offering rates below that average on any given day. Our "As Low As" figure surfaces the single best verified offer across our network's participating lenders and brokers rather than an average, which is why the two lines are not expected to track identically.
Where does this data come from, and what are its limits?
The network "As Low As" rate is compiled from FreeRateUpdate's own daily advertised-rate snapshots of participating in-network lenders and brokers. The Freddie Mac PMMS figure is sourced directly from Freddie Mac's published survey. Neither figure is a quote, a commitment, or a guarantee of the rate available to any individual borrower.
Disclosure: FreeRateUpdate is a marketing network compensated by participating mortgage lenders. The "As Low As" rate reflects the best offer we can verify from an actively participating lender at the time shown, and is not an endorsement of, or ranking among, those lenders. This page is general reference information, not advice about your specific situation.