Skip to main content

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

National Mortgage Professional
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 www.freddiemac.com.
Published
Oct 20, 2008
More from
Tech
Redfin Adds Zoning Data For More Than 70M Homes

Real estate brokerage teamed with Zoneomics to educate buyers on zoning implications.

Industry News
Dec 05, 2022
To Post Or Not To Post?

The content is critical for keeping business moving

Tech
Nov 30, 2022
VoIP — The Latest Phone Systems For Mortgage Professionals

Is Voice Over Internet Protocol the right choice for you?

Tech
Nov 30, 2022
Effective Technologies For 2023

Lenders will need tech that squeezes every ounce of efficiency.

Tech
Nov 21, 2022
FirstClose Names New Chief Financial Officer

Hiring of James Bolger further strengthens executive team.

Tech
Nov 15, 2022
Snapdocs eVault Helps PRMI Roll Out eNotes In 49 States

PRMI has seen a four-day reduction in dwell time for mortgages closed as eNotes, leading to a savings of more than $250 per loan.

Tech
Nov 14, 2022