Mortgage Rates Hold Steady at Record Low of 3.66 Percent – NMP Skip to main content

Mortgage Rates Hold Steady at Record Low of 3.66 Percent

NationalMortgageProfessional.com
Jun 28, 2012

Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing the 30-year fixed-rate mortgage (FRM) averaging 3.66 percent with an average 0.7 point for the week ending June 28, 2012, unchanged from last week. Last year at this time, the 30-year FRM averaged 4.51 percent. Also this week, the 15-year FRM averaged 2.94 percent with an average 0.7 point, down from last week when it averaged 2.95 percent. A year ago at this time, the 15-year FRM averaged 3.69 percent.  "Mortgage rates were virtually unchanged this week hovering at or near record lows and should further help to support a recovering housing market," said Frank Nothaft, vice president and chief economist of Freddie Mac. "Both the S&P/Case Shiller 20-city composite and the Federal Housing Finance Agency's house price indexes showed over a 0.5 percent monthly increase in April. Meanwhile, pending existing home sales rebounded in May by 5.9 percent to match a two year high and new home sales jumped 7.6 percent to its fastest pace since April 2010." The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.79 percent this week, with an average 0.6 point, up from last week when it averaged 2.77. A year ago, the five-year ARM averaged 3.22 percent. The one-year Treasury-indexed ARM averaged 2.74 percent this week with an average 0.4 point, the same as last week. At this time last year, the one-year ARM averaged 2.97 percent.
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Jun 28, 2012
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