Skip to main content

Freddie Mac survey finds rates stabilize for the week

Apr 29, 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 April 29, 2010, down slightly from last week when it averaged 5.07 percent. Last year at this time, the 30-year FRM averaged 4.84 percent. The 15-year FRM this week averaged 4.39 percent with an average 0.7 point, unchanged from last week when it averaged 4.39 percent. A year ago at this time, the 15-year FRM averaged 4.51 percent. The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 4.003 percent this week, with an average 0.6 point, down from last week when it averaged 4.03 percent. A year ago, the five-year ARM averaged 4.90 percent. The one-year Treasury-indexed ARM averaged 4.25 percent this week with an average 0.5 point, up from last week when it averaged 4.22 percent. At this time last year, the 1-year ARM averaged 4.78 percent. Average commitment rates should be reported along with average fees and points to reflect the total cost of obtaining the mortgage. “Mortgage rates on 30-year fixed loans have averaged about five percent over the first four months of this year, staying within a band of roughly a quarter percentage point and virtually matching 2009’s annual average,” said Frank Nothaft, Freddie Mac vice president and chief economist. “These low rates have been helping to moderate house price declines over the course of the year. Prices on existing homes showed a 12-month increase of 0.7 percent in February, which was the first annual increase since December 2006, according to the S&P/Case-Shiller 20-city composite index. In addition, nine cities experienced positive growth, matching the number in January. Further, the Census Bureau’s Constant Quality price index showed that new home prices rose 2.5 percent in the first quarter on an annual basis.” For more information, visit www.freddiemac.com.
About the author
Published
Apr 29, 2010
Rocket Pro And Vetted VA Join Forces

What started as a Facebook group now educates 100K+ veterans monthly — Vetted VA and Rocket Pro working to bring ethics, clarity to a broken system

Jun 17, 2025
MBA Urges Shift To Single Credit Report Model, Citing Cost Savings And Efficiency

MBA says tri-merge credit checks cost lenders up to $100 per loan, doubling since pre-COVID, as industry pushes for a cheaper, single-report model

Jun 16, 2025
Fairway Acquires Hallmark Home Mortgage Through Asset Purchase

Hallmark to become new Fairway division, gets access to Fairway's Fairway's product portfolio, tech, and support resources

Jun 13, 2025
Trigger Leads Bill Clears Senate

Final push now left to House; reconciled bill needed next

Housing Market Outlook: Brighter Days To Come

NAR Chief Economist Yun calls lower mortgage rates ‘magic bullet’ to boost home sales

Jun 11, 2025
Redfin Shareholders Say Yes To Acquisition By Rocket

Nearly 99% of Redfin shareholders vote to approve merger, though fewer vote yes to compensation for company’s execs

Jun 10, 2025