Skip to main content

National Quick Sale offers new Web site to automate short sales, prevent foreclosures

Oct 20, 2008

Freddie Mac PMMS: 30-year fixed-rate falls to at least a 37-year lowMortgagePress.comFreddie Mac, Primary Mortgage Market Survey, PMMS, ARMs, Treasury Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.19 percent with an average 0.7 point for the week ending December 18, 2008, down from last week when it averaged 5.47 percent. Last year at this time, the 30-year FRM averaged 6.14 percent. The 30-year FRM has not been lower since Freddie Mac started the Primary Mortgage Market Survey in 1971. The 15-year FRM this week averaged 4.92 percent with an average 0.7 point, down from last week when it averaged 5.20 percent. A year ago at this time, the 15-year FRM averaged 5.79 percent. The 15-year FRM has not been lower since April 1, 2004, when it averaged 4.84 percent. Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 5.60 percent this week, with an average 0.6 point, down from last week when it averaged 5.82 percent. A year ago, the five-year ARM averaged 5.90 percent. One-year Treasury-indexed ARMs averaged 4.94 percent this week with an average 0.5 point, down from last week when it averaged 5.09 percent. At this time last year, the 1-year ARM averaged 5.51 percent. Average commitment rates should be reported along with average fees and points to reflect the total cost of obtaining the mortgage. "Interest rates for 30-year fixed-rate mortgage rates fell for the seventh consecutive week, moving these rates to the lowest since the survey began in April 1971," said Frank Nothaft, Freddie Mac vice president and chief economist. "The decline was supported by the Federal Reserve announcement on December 16th, when it cut the federal funds target to a record low and stated it stood ready to expand its purchases of mortgage-related assets as conditions warrant." For more information, visit
About the author
Oct 20, 2008
More from
From Figure Eights to Mortgage Rates

From Team USA’s grace to financial services’ embrace, Matthew Blackmer draws parallels from his past to the future

Jan 31, 2024
Commissions Alert: Pop Your Profits And Don't Leave A Penny On The Table

Lenders need better tech to help homeowners unlock $20 trillion in tappable equity

Dec 21, 2023
The Road To Success In 2024

A loan servicer’s perspectives on the year ahead

Dec 18, 2023
A Servant’s Heart

Help troubled borrowers, help yourself

Dec 05, 2023
Take It From The Old Timers

They were rockin’ the industry before social media even came into the picture

Dec 01, 2023
Celligence Launches NFT Generated By Its AI And Smart Technology And Integrates With Diwali Celebration

AngelAi powers a wonderful celebration of Diwali, Puerto Rico, and empathetic technology.

Nov 30, 2023