Freddie Mac: Fixed-Rate Mortgages At Record Low…Again!

Posted by Orb Staff on June 08, 2012 No Comments
Categories : Residential Mortgage

11740_housingdecline Freddie Mac: Fixed-Rate Mortgages At Record Low...Again! In what is starting to become a monotonously predictable trend, Freddie Mac has announced that average fixed mortgage rates fell to new all-time record lows for the sixth consecutive week.

According to Freddie Mac, the 30-year fixed-rate mortgage (FRM) averaged 3.67% with an average 0.7 point for the week ending June 7, down from last week when it averaged 3.75%. Last year at this time, the 30-year FRM averaged 4.49%.Â

The 15-year FRM averaged 2.94% with an average 0.7 point, down from last week when it averaged 2.97%. A year ago at this time, the 15-year FRM averaged 3.68%.Â

The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.84% with an average 0.7 point, the same as last week. A year ago, it averaged 3.28%.

The one-year Treasury-indexed ARM averaged 2.79% with an average 0.4 point, up from last week when it averaged 2.75%. At this time last year, it averaged 2.95%. Â

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