Freddie Mac PMMS: Mortgage mortgage rates recede this weekMortgagePress.comFreddie Mac, Primary Mortgage Market Survey, statistics, fixed-rate mortgage
Freddie Mac has released the results of its Primary Mortgage
Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM)
averaged 4.82 percent with an average 0.6 point for the week ending
April 16, 2009, down from last week when it averaged 4.87 percent.
Last year at this time, the 30-year FRM averaged 5.88 percent.
The 15-year FRM this week averaged 4.48 percent with an average
0.6 point, down from last week when it averaged 4.54 percent. A
year ago at this time, the 15-year FRM averaged 5.40 percent. This
is the lowest the 15-year FRM has been since Freddie Mac began
tracking it in August 1991.
Five-year Treasury-indexed hybrid adjustable-rate mortgages
(ARMs) averaged 4.88 percent this week, with an average 0.6 point,
down from last week when it averaged 4.93 percent. A year ago, the
5-year ARM averaged 5.48 percent. This is the lowest the 5-year ARM
has been since Freddie Mac began tracking it in January 2005.
One-year Treasury-indexed ARMs averaged 4.91 percent this week
with an average 0.7 point, up from last week when it averaged 4.83
percent. At this time last year, the 1-year ARM averaged 5.10
Average commitment rates should be reported along with average
fees and points to reflect the total cost of obtaining the
"Mortgage rates on fixed-rate loans and some ARM products eased
this week," said Frank Nothaft, Freddie Mac vice president and
chief economist. "The housing industry is starting to exhibit some
positive signs, albeit scarce and too early to tell how permanent.
In its April 15th regional economic report, the Federal Reserve
reported that better-than-expected buyer traffic led to a scattered
pickup in home sales in a number of its Districts over the 6-week
period ending on April 6th. Factors such as homebuyer tax credits,
low mortgage rates, and more affordable prices were cited as
leading to more potential buyers. This may have added to the rise
in homebuilder confidence in April, which rose to the highest level
in six months, according to the National Association of Home
Builders. Moreover, confidence increased in each of the four
regions, led by the Northeast and Midwest."
For more information, visit www.freddiemac.com.