Mortgage Rates Change Faster Than Freddie Mac Can Report It

According to Freddie Mac, Primary Mortgage Market Survey results are collected Monday through Wednesday, then published to the public Thursday. By design, therefore, the survey lumps mortgage market activity spread across 3 days into 1 single point of data. Survey results are skewed, therefore, based on the when survey responders get back to Freddie Mac. Last week, this point was painfully clear.