Skip to main content

80 percent of Americans say they are concerned about identity theft

Apr 20, 2008

Freddie Mac PMMS results: Little movement in mortgage rates seen this weekMortgagePress.comFreddie Mac, PMMS, Primary Mortgage Market Survey Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 6.05 percent with an average 0.3 point for the week ending May 8, 2008, down very slightly from last week when it averaged 6.06 percent. Last year at this time, the 30-year FRM averaged 6.21 percent. The 15-year FRM this week averaged 5.60 percent with an average 0.3 point, up very slightly from last week when it averaged 5.59 percent. A year ago at this time, the 15-year FRM averaged 5.92 percent. Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 5.67 percent this week, with an average 0.5 point, down from last week when it averaged 5.73 percent. A year ago, the 5-year ARM averaged 5.92 percent. One-year Treasury-indexed ARMs averaged 5.29 percent this week with an average 0.6 point, unchanged from the last two weeks when it was 5.29 percent. At this time last year, the 1-year ARM averaged 5.48 percent. Average commitment rates should be reported along with average fees and points to reflect the total cost of obtaining the mortgage. "Despite a weak housing market, mortgage rates remained almost unchanged this week based on better-than-expected economic data releases that indicated the economy still has some staying power," said Frank Nothaft, Freddie Mac vice president and chief economist. "Job losses lessened in April and conditions in both the manufacturing and service industry outperformed market forecasts. Worker productivity also rose in the first quarter as increases in labor costs diminished. "The housing market is still struggling amid falling house prices and stricter lending standards. Coupled with higher delinquency and foreclosure rates, a smaller share of families own their homes this year. The national homeownership rate held at 67.8 percent in the first quarter of 2008, down from its recent peak of 69.0 percent in the third quarter of 2006 and was the lowest rate since 67.6 percent in the second quarter of 2002, according to the Census Bureau." For more information, visit www.freddiemac.com.
About the author
Published
Apr 20, 2008
Fed Holds Rates Steady As Economic Growth Stays Solid

Move comes amid mounting pressure, frustration from President Trump

Guild Mortgage To Go Private In $1.3B Deal With Bayview Asset Management

Guild to remain independent post-acquisition, strengthening national retail and servicing strategy

Jun 18, 2025
Rocket Pro And Vetted VA Join Forces

What started as a Facebook group now educates 100K+ veterans monthly — Vetted VA and Rocket Pro working to bring ethics, clarity to a broken system

Jun 17, 2025
MBA Urges Shift To Single Credit Report Model, Citing Cost Savings And Efficiency

MBA says tri-merge credit checks cost lenders up to $100 per loan, doubling since pre-COVID, as industry pushes for a cheaper, single-report model

Jun 16, 2025
Fairway Acquires Hallmark Home Mortgage Through Asset Purchase

Hallmark to become new Fairway division, gets access to Fairway's Fairway's product portfolio, tech, and support resources

Jun 13, 2025
Trigger Leads Bill Clears Senate

Final push now left to House; reconciled bill needed next