Skip to main content

Freddie Mac PMMS: Fixed-rates down slightly

NationalMortgageProfessional.com
Jan 14, 2010

Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.06 percent with an average 0.7 point for the week ending Jan. 14, 2010, down from last week when it averaged 5.09 percent. Last year at this time, the 30-year FRM averaged 4.96 percent. The 15-year FRM this week averaged 4.45 percent with an average 0.6 point, down from last week when it averaged 4.50 percent. A year ago at this time, the 15-year FRM averaged 4.65 percent. The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 4.32 percent this week, with an average 0.6 point, down from last week when it averaged 4.44 percent. A year ago, the five-year ARM averaged 5.25 percent. The one-year Treasury-indexed ARM averaged 4.39 percent this week with an average 0.5 point, up from last week when it averaged 4.31 percent. At this time last year, the one-year ARM averaged 4.89 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 fixed-rate mortgages eased a little further this week, while ARM rates were mixed,” said Frank Nothaft, Freddie Mac vice president and chief economist. “With fixed mortgage rates staying near a record low, many homeowners are taking the opportunity to refinance. For instance, over the past three-and-a-half months, on average more than 75 percent of conventional mortgage applications were for refinance transactions, according the Mortgage Bankers Association (MBA). “The Federal Reserve recently reported positive news in both the housing market and the overall state of the economy in its January 13th regional economic report, which spanned the last few months of 2009. Economic activity improved in 10 of its 12 districts. Home sales, especially for lower-priced homes, increased due in part to the homebuyer tax credit and house prices appeared to have changed little since its last report.” For more information, visit www.freddiemac.com.
Published
Jan 14, 2010
Anchor Loans Hires Andrew Jewett As SVP, Enterprise Sales

Formerly lead lending at Sundae Inc.

Industry News
Aug 02, 2021
Pretium Adds 3 Execs With Residential Credit Expertise

New Hires Will Serve As Managing Directors

Industry News
Aug 02, 2021
loanDepot And mellohome Introduce Home Services Bundle

loanDepot, Inc. and its sister company mellohome are launching a proprietary bundle of home buying and selling services.

Industry News
Jul 30, 2021
Gateway Mortgage Surpasses 165 Mortgage Centers With 10 New Additions

Gateway Mortgage reported significant growth in the company, prompting it to open 10 new locations across Colorado, Idaho, Oklahoma, Texas, Oregon, and Wyoming.

Industry News
Jul 30, 2021
FHFA Requires 30-Day Notice Prior To Eviction

Wednesday, the Federal Housing Finance Agency (FHFA) announced that tenants of multi-family properties must be given 30 days notice to vacate before the tenant is required to leave the premise.

Industry News
Jul 29, 2021
Houston-Based Stewart Acquires Title First Agency

Ohio-Based Agency Has 20 Offices And Operates in 32 States

Industry News
Jul 28, 2021