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Update on the Discontinuation of FHFA's Monthly Interest Rate Survey (MIRS)

On May 29, 2019, FHFA published its final Monthly Interest Rate Survey (MIRS), due to dwindling participation by financial institutions. MIRS had provided information on a monthly basis on interest rates, loan terms, and house prices by property type (all, new, previously occupied); by loan type (fixed- or adjustable-rate), and by lender type (savings associations, mortgage companies, commercial banks and savings banks); as well as information on 15-year and 30-year, fixed-rate loans. Additionally, MIRS provided quarterly information on conventional loans by major metropolitan area and by Federal Home Loan Bank district, and was used to compile FHFA’s monthly adjustable-rate mortgage index entitled the “National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders,” also known as the ARM Index.

As some banks use the ARM Index as the basis for adjusting the interest rates on adjustable-rate mortgages, FHFA created and designated as the replacement for the ARM Index a version of Freddie Mac’s 30-year Primary Mortgage Market Survey® (PMMS®) that adjusts for differences between the two. This new index is called “MIRS Transition Index” and will be published on fhfa.gov on the final Thursday of every month. June 2019 was the first MIRS Transition index value to be published. The MIRS Transition index is intended to be used in lieu of the discontinued index for currently outstanding loans, and not as a reference rate on newly-originated adjustable-rate mortgages. The MIRS Transition Index was briefly referred to as PMMS+. It is not a replacement for PMMS.

 

MIRS Transition Index


MIRS Transition Index 
Release Dates

Index Value

May 2024 6.73
April 2024 6.63
March 2024 6.65
February 2024​ 6.94
January 2024​ 7.49
December 2023​ 7.56
November 2023​ 7.17
October 2023​ 6.95
September 2023​ 6.95
August 2023 6.68
July 2023​ 6.34
June 2023​ 6.26
May 2023​ 6.72
April 2023​ 6.11
March 2023 6.32​
February 2023​ 6.32​
January 2023 7.07​
December 2022 6.91​
​​November 2022 5.88
October 2022 ​5.21​
September 2022​ ​5.50
​August 2022 ​5.22
​​July 2022 5.29​
June 2022​ 4.99​*
*revised​
May 2022​ 3.84​
​April 2022 3.68​
​March 2022​ 3.44​
​February 2022 ​​3.09
​January 2022 ​2.97​

Historical MIRS Transition Index

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National Average Contract Mortgage Rate


The data, tabulated and published as described above, is used to compile FHFA’s monthly adjustable-rate mortgage index entitled the “National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders.”  This index is the successor to the index previously maintained by the former Federal Home Loan Bank Board.   

Announcement Date

Index Month

Index Rate

News Release

​May 29, 2019 April 2019​ 4.15​ [PAGE]​
​April 30, 2019 March 2019​ ​4.36 [PAGE]​
​March 28, 2019 February 2019​ 4.46 [PAGE]​
February 28, 2019 January 2019​ ​4.60​ [PAGE]​
​January 24, 2019 December 2018​ ​4.83​ [PAGE]​
​December 27, 2018 November 2018​ ​4.86 ​[PAGE]

Historical National Average Contract Mortgage Rate Index Values

 

MIRS Microdata File


MIRS Public Use File (CSV)

MIRS Public Use File Documentation

  

MIRS Historical Summary Tables


The following tables present historical summary data prior to 2008 containing Rates and Terms on Conventional Single-Family Non-farm Mortgage Loans. This survey is the nation's most comprehensive source of information on conventional mortgage rates and terms.

Description Reporting Period Format
Loans Closed, By Property​ Type - Table 1 Monthly 4/2018 - 4/2019 [XLSX]
Loans Closed, By Loan Type - Table 2 Monthly  4/2018 - 4/2019 [XLSX]
Loans Closed, 15- and 30- Year Fixed-Rate Mortgages - Table 4 Monthly 4/2018 - 4/2019 [XLSX]
Loans Closed, By Metropolitan Statistical Area (MSA) - Table 5 Quarterly 1Q2018 - 1Q2019 [XLSX]
Loans Closed, By FHLB District - Table 6  Quarterly 1Q2018 - 1Q2019 [XLSX]
All Homes - Table 9 A​nnual 1963 - 2018 [XLS]
Newly Built Homes - Table 10 Annual 1963 - 2018 [XLS]
Previously Occupied Homes - Table 11 Annual 1963 - 2018 [XLS]
Fixed-Rate Mortgages - Table 12 Annual 1963 - 2018 [XLS]
By State - Table 15 Annual 1978 - 2018 [XLS]
By Metropolitan Statistical Area (MSA) - Table 16 Annual 1978 - 2018 [XLS]
All Homes - Table 17 Monthly 1973 - 2018 [XLS]
Newly Built Homes - Table 18 Monthly 1973 - 2018 [XLS]
Previously Occupied Homes - Table 19 Monthly 1973 - 2018 [XLS]
All Homes, Fixed-Rate Mortgages - Table 20 Monthly 1986 - 2018 [XLS]
Newly-Built Homes, Fixed-Rate Mortgages - Table 21 Monthly 1986 - 2018 [XLS]
Previously Occupied Homes, Fixed-Rate Mortgages - Table 22 Monthly 1986 - 2018 [XLS]
All Homes, Adjustable Rate Mortgages - Table 23 Monthly 1986 - 201 [XLS]
Newly Built Homes, Adjustable Rate Mortgages - Table 24 Monthly 1986 - 2018 [XLS]
Previously Occupied Homes, Adjustable Rate Mortgages - Table 25 Monthly 1986 - 2018 [XLS]
All Homes, 15- and 30- Year Fixed-Rate Mortgages - Table 26 Monthly 1990 - 2018 [XLS]

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