WASHINGTON (MNI) – The following is the text of the latest Freddie
Mac Primary Mortgage Market Survey released Thursday:

Freddie Mac (OTC: FMCC) today released the results of its Primary
Mortgage Market Survey (PMMS), showing fixed mortgage rates easing
slightly and remaining near record lows to keep homebuyer affordability
high and attractive to those looking to refinance.

News Facts

– 30-year fixed-rate mortgage (FRM) averaged 3.32 percent with an
average 0.7 point for the week ending December 13, 2012, down from last
week when it averaged 3.34 percent. Last year at this time, the 30-year
FRM averaged 3.94 percent.

– 15-year FRM this week averaged 2.66 percent with an average 0.6
point, down from last week when it averaged 2.67 percent. A year ago at
this time, the 15-year FRM averaged 3.21 percent.

– 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM)
averaged 2.70 percent this week with an average 0.6 point, up from last
week when it averaged 2.69 percent. A year ago, the 5-year ARM averaged
2.86 percent.

– 1-year Treasury-indexed ARM averaged 2.53 percent this week with
an average 0.5 point, down from last week when it averaged 2.55. At this
time last year, the 1-year ARM averaged 2.81 percent.

Average commitment rates should be reported along with average fees
and points to reflect the total upfront cost of obtaining the mortgage.
Visit the following links for Regional and National Mortgage Rate
Details and Definitions. Borrowers may still pay closing costs which are
not included in the survey.

Quotes attributed to Frank Nothaft, vice president and chief
economist, Freddie Mac.

“Mortgage rates held relatively steady following the November
employment report. Although 146,000 jobs were created, above the market
consensus forecast of 85,000, revisions subtracted 49,000 workers over
the September and October period. The unemployment rate fell from 7.9 to
7.7 percent. However, in its December 12 monetary policy statement, the
Federal Reserve (Fed) noted that this rate remains elevated and modified
the statement to tie any increases to its target rate to the
unemployment rate falling below 6.5 percent. The latest Fed
central-tendency forecast is for unemployment to be between 7.4 and 7.7
percent in the fourth quarter of 2013 and between 6.8 and 7.3 percent by
late 2014.”

** MNI Washington Bureau: 202-371-2121 **

[TOPICS: M$U$$$,M$$AG$,MAUDS$]