Rates dip to record low of 4.54 percent in Freddie Mac survey – NMP Skip to main content

Rates dip to record low of 4.54 percent in Freddie Mac survey

NationalMortgageProfessional.com
Jul 29, 2010

Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), with the 30-year and 15-year fixed-rate mortgages reaching record lows. This week, the 30-year fixed-rate mortgage (FRM) averaged 4.54 percent, with an average 0.7 point for the week ending July 29, 2010, down from the previous week when it averaged 4.56 percent. Last year at this time, the 30-year FRM averaged 5.25 percent. “For the sixth week in a row, interest rates on fixed-rate mortgages eased to all-time record lows during a week of mixed housing data reports," said Frank Nothaft, vice president and chief economist for Freddie Mac. "The number of local markets experiencing annual increases in home prices appears to be growing. For instance, 13 metropolitan areas in the S&P/Case-Shiller 20-city index experienced price appreciation over the 12-months ending in May, compared to 11 in April and 10 in March." According to the survey, 15-year FRM averaged a record low of four percent this week, with an average 0.7 point, down from last week when it averaged 4.03 percent. A year ago at this time, the 15-year FRM averaged 4.69 percent. The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.76 percent this week, with an average 0.7 point, down from last week when it averaged 3.79 percent. A year ago, the five- year ARM averaged 4.75 percent. The one-year Treasury-indexed ARM averaged 3.64 percent this week with an average 0.7 point, down from the previous week when it averaged 3.70 percent. At this time last year, the one-year ARM averaged 4.80 percent. "However, existing home sales in June slowed to an annualized pace of 4.37 million units, the fewest since March," said Nothaft. "Moreover, although new home sales jumped by almost 24 percent to 330,000 dwellings, it represented the second slowest rate since 1963.” For more information, visit www.freddiemac.com.  
Published
Jul 29, 2010
PennyMac Cutting 207 Jobs

A wide variety of positions are affected.

Industry News
May 24, 2022
Loan Officer Charged With Bank Fraud, Identity Theft

If convicted, she faces up to 30 years in federal prison on each bank fraud count and a mandatory consecutive 2 years’ imprisonment.

Industry News
May 24, 2022
Openn Launches Pilot with bridgeMLS For Sales In California

Agents in Northern California, Bay Area will be able to list property and accept offers using the platform. 

Tech
May 24, 2022
Cenlar Appoints New Senior Vice President, CIO

Steven Taylor has background in multiple large-scale corporate mergers and acquisitions integrations.

Career
May 24, 2022
All-Cash Offer Fintech Ribbon Expands Into Arkansas

Crye-Leike real estate agency to serve as first partner in the state.

Industry News
May 23, 2022
Hometown Lenders Adds 9 Branches in 4 States

Adds locations in Oregon, Washington, Alaska, and North Carolina.

Industry News
May 23, 2022