Skip to main content

Freddie Mac PMMS finds rates flatline for the week

Jan 28, 2010

Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 4.98 percent with an average 0.6 point for the week ending Jan. 28, 2010, down slightly from last week when it averaged 4.99 percent. Last year at this time, the 30-year FRM averaged 5.10 percent. The 15-year FRM this week averaged 4.39 percent with an average 0.6 point, down slightly from last week when it averaged 4.40 percent. A year ago at this time, the 15-year FRM averaged 4.80 percent. The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 4.25 percent this week, with an average 0.6 point, down from last week when it averaged 4.27 percent. A year ago, the five-year ARM averaged 5.27 percent. The one-year Treasury-indexed ARM averaged 4.29 percent this week with an average 0.5 point, down from last week when it averaged 4.32 percent. At this time last year, the 1-year ARM averaged 4.90 percent. Average commitment rates should be reported along with average fees and points to reflect the total cost of obtaining the mortgage. “Mortgage rates held steady this week ahead of the Federal Reserve’s (Fed) policy committee meetings,” said Frank Nothaft, Freddie Mac vice president and chief economist. “The Fed announced on January 27th that economic activity has continued to strengthen. It also noted that with substantial resource slack continuing to restrain cost pressures and with longer-term inflation expectations stable, inflation is likely to be subdued for some time. “Last year was rough on the housing market. The number of new one-family housing starts hit a historical low of just under half-a-million units since records began in 1959. Similarly, new home sales were under 400,000 homes, an all-time record since data compilation began in 1963. Total existing home sales, however, rose to almost 5 million houses, which was the first annual increase in four years.” For more information, visit www.freddiemac.com.
About the author
Published
Jan 28, 2010
Potential For Declining Rates This Summer, Following CPI Report

Norada Real Estate Investments said "rates likely to decline" after the latest CPI report.

Jun 17, 2024
Looking For Change Under Every Couch?

Don’t overlook the obvious – employees have ideas for cost savings, too

Jun 10, 2024
New American Funding Announces New Cash-Offer Program

Similar to Opendoor and Homeward, NAF Cash Maps offers buyers a bidding war advantage

Jun 05, 2024
CFPB Issues Public Inquiry On Junk Fees Affecting Closing Costs

Agency seeks to understand why closing costs are up, who is benefiting, and how costs can be lowered.

May 30, 2024
STRATMOR, Teraverde Deal A 'Merger Of Equals'

The recent merger of mortgage advisory firms came without the need to lay people off or make any major staffing changes.

May 23, 2024
NEXA Pays Loan Officers 100% Of Commission Splits

LOs won't pay per-file fees or other hidden fees with NEXA100, says NEXA Founder and CEO Mike Kortas.

May 22, 2024