Freddie Mac: Average FRMs Match All-Time Record Lows

Posted by Orb Staff on June 29, 2012 No Comments
Categories : Residential Mortgage

11896_housingdecline Freddie Mac: Average FRMs Match All-Time Record Lows Freddie Mac reports that average fixed mortgage rates were largely unchanged this week, with both the 30-year fixed-rate mortgage (FRM) and 15-year FRM matching their all-time record lows.

The 30-year FRM this week averaged 3.66% with an average 0.7 point, the same as last week. Last year at this time, the 30-year FRM averaged 4.51%.

The 15-year FRM averaged 2.94% with an average 0.7 point, down from last week when it averaged 2.95%. A year ago at this time, the 15-year FRM averaged 3.69%.Â

The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.79%, with an average 0.6 point, up from last week when it averaged 2.77%. A year ago, it averaged 3.22%.

The one-year Treasury-indexed ARM averaged 2.74% with an average 0.4 point, the same as last week. At this time last year, it averaged 2.97%.

‘Mortgage rates were virtually unchanged this week, hovering at or near record lows, and should further help to support a recovering housing market,’ says Frank Nothaft, vice president and chief economist at Freddie Mac.

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