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
finding new record lows for the second consecutive week keeping
borrowing costs attractive to support the ongoing housing recovery.

News Facts

– 30-year fixed-rate mortgage (FRM) averaged 3.31 percent with an
average 0.7 point for the week ending November 21, 2012, down from last
week when it averaged 3.34 percent. Last year at this time, the 30-year
FRM averaged 3.98 percent.

– 15-year FRM this week averaged 2.63 percent with an average 0.7
point, down from last week when it averaged 2.65 percent. A year ago at
this time, the 15-year FRM averaged 3.30 percent.

– 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM)
averaged 2.74 percent this week with an average 0.6 point, the same as
last week. A year ago, the 5-year ARM averaged 2.91 percent.

– 1-year Treasury-indexed ARM averaged 2.56 percent this week with
an average 0.5 point, up from last week when it averaged 2.55 percent.
At this time last year, the 1-year ARM averaged 2.79 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.

“Fixed mortgage rates continued to ease somewhat this week to
record lows and should help the ongoing housing recovery. Already, new
construction on homes was up 3.6 percent in October to the strongest
pace since July 2008. In November, homebuilder confidence rose for the
sixth straight month to its highest reading since June 2006 according to
the NAHB/Wells Fargo Housing Market Index. And existing home sales
increased 2.1 percent in October to an annualized pace of 4.79 million,
exceeding the market consensus forecast.”

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

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