Freddie: 30-Year Fixed Rate At 37-Year Low

Posted by Orb Staff on December 19, 2008 No Comments
Categories : Residential Mortgage

According to the results of Freddie Mac's most recent Primary Mortgage Market Survey (PMMS), the 30-year fixed-rate mortgage (FRM) averaged 5.19% with an average 0.7 point for the week ending Dec. 18., down from the previous week, when it averaged 5.47%. Last year at this time, the 30-year FRM averaged 6.14%.

The 30-year FRM has not been lower since Freddie Mac started the PMMS in 1971.

The 15-year FRM this week averaged 4.92%, with an average 0.7 point, down from last week, when it averaged 5.20%. A year ago at this time, the 15-year FRM averaged 5.79%. The 15-year FRM has not been lower since April 1, 2004, when it averaged 4.84%.

Source: Freddie Mac

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