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 virtually
unchanged and remaining near their record lows amid growing concerns
around the fiscal cliff. The 30-year fixed-rate mortgage has averaged
below 4.00 percent all but one week in 2012, while the 15-year
fixed-rate mortgage has averaged below 3.00 percent since the last week
in May.

News Facts

– 30-year fixed-rate mortgage (FRM) averaged 3.32 percent with an
average 0.8 point for the week ending November 29, 2012, up from last
week when it averaged 3.31 percent. Last year at this time, the 30-year
FRM averaged 4.00 percent.

– 15-year FRM this week averaged 2.64 percent with an average 0.6
point, up from last week when it averaged 2.63 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 2.72 percent this week with an average 0.6 point, down from
last week when it averaged 2.74 percent. A year ago, the 5-year ARM
averaged 2.90 percent.

– 1-year Treasury-indexed ARM averaged 2.56 percent this week with
an average 0.5 point, the same as last week. At this time last year, the
1-year ARM averaged 2.78 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 were virtually unchanged this week amid growing
concerns around the fiscal cliff. Although low mortgage rates failed to
boost new home sales in October, year-to-date sales are up 20 percent
compared with 2011 volumes, and there are growing signs of a turnaround
in house prices. The S&P/Case-Shiller national home price index
(seasonally adjusted) rose 5.2 percent over the first three quarters of
this year. In addition, all 20 of the city indices (seasonally adjusted)
had positive growth over the first 9 months, led by a 17.9 percent
increase in Phoenix. More recently, the Federal Reserve’s November 28th
regional economic review, known as the Beige Book, noted that 10 of the
12 districts reported the market for single-family homes continued to
improve leading into mid-November.”

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

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