Skip to main content

Freddie Mac survey: Rates break the five percent mark

Apr 01, 2010

Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.08 percent, with an average 0.7 point for the week ending April 1, 2010, up from last week when it averaged 4.99 percent. Last year at this time, the 30-year FRM averaged 4.78 percent. The 15-year FRM this week averaged 4.39 percent with an average 0.6 point, up slightly from last week when it averaged 4.34 percent. A year ago at this time, the 15-year FRM averaged 4.52 percent. The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 4.10 percent this week, with an average 0.6 point, down from last week when it averaged 4.14 percent. A year ago, the five-year ARM averaged 4.92 percent. The one-year Treasury-indexed ARM averaged 4.05 percent this week with an average 0.6 point, down from last week when it averaged 4.20 percent. At this time last year, the one-year ARM averaged 4.75 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 mortgages rose this week following a run up in long-term bond yields, while ARM rates eased slightly,” said Frank Nothaft, Freddie Mac vice president and chief economist. “Rates on 30-year fixed loans were the highest since the starting week of this year. Home price declines continue to moderate with more metropolitan areas showing stabilizing or rising values. Compared with one year ago, house prices were down 0.7 percent in January 2010 in the S&P/Case-Shiller 20-City Composite Index, which was the smallest 12-month decrease since January 2007. Nine of the cities experienced positive growth, led by San Francisco’s 9.1 percent annual gain. Recently, the Mortgage Insurance Companies of America reported that homeowners who moved out of default outnumbered those who became newly delinquent in February, which was the first such occurrence since March 2006.” For more information, visit www.freddiemac.com.
About the author
Published
Apr 01, 2010
Rocket Companies Reports Decline in Fourth Quarter Revenue, Projects Optimism for Future Growth

Despite revenue dip, mortgage giant sees increase in market share and advances in AI technology.

Feb 22, 2024
Broker Action Coalition Unveils Inaugural Board Of Directors

Newly formed nonprofit organization BAC announces industry professionals to guide its mission of legislative change and educational initiatives in the mortgage industry.

Feb 21, 2024
GSEs Report Strong Earnings

Robust performance marks growth for both Fannie Mae and Freddie Mac, despite a dip in home purchases.

Feb 15, 2024
Friendly Competition Joins Forces

The merger aims to enhance local fulfillment and sales support, marking Guild’s sixth acquisition since 2021 and expanding its licensed originators to over 2,100 amidst a challenging market.

Feb 14, 2024
Guild Mortgage Announces Acquisition Of Competitor Academy Mortgage, Bolsters National Presence

The strategic move will see Guild Mortgage enhance its market share and become the 8th largest non-bank retail lender in the U.S., welcoming over 600 loan officers from Academy.

Feb 13, 2024
Proprietary Capital-Led Group Acquires Multichannel Lender AFR

Colorado-based fund manager Proprietary Capital finalizes acquisition of American Financial Resources.

Feb 13, 2024