Mortgage Rates Remain Unchanged for the Week at the 3.87 Percent Mark – NMP Skip to main content

Mortgage Rates Remain Unchanged for the Week at the 3.87 Percent Mark

NationalMortgageProfessional.com
Feb 16, 2012

Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing average fixed mortgage rates unchanged amid mixed consumer sentiment data as the average 30-year fixed-rate mortgage (FRM) has been at its all-time record-breaking low of 3.87 percent since the first week of February, below the four percent mark percent for the past 11 weeks, and below the percent for the past 52 weeks dating back to the Feb. 17, 2011 release of the PMMS. The 15-year FRM averaged 3.16 percent for the week, with an average 0.8 point, matching the previous week when it also averaged 3.16 percent. A year ago at this time, the 15-year FRM averaged 4.27 percent. "Fixed mortgage rates were unchanged this week amid mixed confidence measures," said Frank Nothaft, vice president and chief economist, Freddie Mac. "Small business confidence ticked up slightly in January, representing a fourth consecutive month gain, according to the National Federation of Independent Business index. However, the Reuters/University of Michigan index of consumer sentiment fell in February by more than the market consensus forecast breaking a five month trend." The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.82 percent this week, with an average 0.8 point, down from last week when it averaged 2.83 percent. A year ago, the five-year ARM averaged 3.87 percent.  "In the meantime, home builder confidence rose in February to the highest reading since May 2007, based on the NAHB/Wells Fargo Housing Market Index," said Nothaft. The one-year Treasury-indexed ARM averaged 2.84 percent this week with an average 0.6 point, up from last week when it averaged 2.78 percent. At this time last year, the one-year ARM averaged 3.39 percent.
Published
Feb 16, 2012
Chairman Xu Sells Off Personal Assets To Avoid Default

The Evergrande saga continues as Chairman Xu Jiayin sells off 7 billion yuan ($1.1 billion) of his personal assets to prop up the deflating property giant.

Industry News
Nov 23, 2021
OptiFunder Secures $25 Million In Capital

OptiFunder, a warehouse management system provider for mortgage originators, raised $25 million in additional capital lead by Arthur Ventures, a growth capital firm focused on high-growth, founder-led and capital efficient B2B software companies.

Tech
Nov 23, 2021
Mortgage Company Donates $100K To High School In Memory Of Fallen U.S. Navy Corpsman

Cleveland-based CrossCountry Mortgage donated $100,000 to Milan Edison High School in memory of U.S. Navy Corpsman, Maxton W. Soviak, who died while assisting in the evacuation of Americans and refugees in Afghanistan in August.

Community
Nov 23, 2021
MISMO Seeks To Standardize Pre-Closing Title Data

Forming workgroup to focus on standardizing document datasets to streamline process and increase efficiency.

Industry News
Nov 23, 2021
Pandemic's Impact On Real Estate Around The World

Although the impact of the COVID-19 pandemic on the real estate industry has been well-documented within the United States, it’d be prudent to know how the global event impacted other countries as well. 

Industry News
Nov 22, 2021
Housing Market Potential Strengthens Modestly

First American Financial Corporation's Potential Home Sales Model for October 2021 reported that potential existing-home sales increased 0.1% month-over-month to 6.27 million, with household formation continuing to grow, largely driven by millennials.

Analysis and Data
Nov 22, 2021