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 little
changed and remaining near their record lows helping to keep homebuyer
affordability high and attractive to those looking to refinance.

News Facts

– 30-year fixed-rate mortgage (FRM) averaged 3.34 percent with an
average 0.7 point for the week ending December 6, 2012, up from last
week when it averaged 3.32 percent. Last year at this time, the 30-year
FRM averaged 3.99 percent.

– 15-year FRM this week averaged 2.67 percent with an average 0.6
point, up from last week when it averaged 2.64 percent. A year ago at
this time, the 15-year FRM averaged 3.27 percent.

– 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM)
averaged 2.69 percent this week with an average 0.6 point, down from
last week when it averaged 2.72 percent. A year ago, the 5-year ARM
averaged 2.93 percent.

– 1-year Treasury-indexed ARM averaged 2.55 percent this week with
an average 0.4 point, down from last week when it averaged 2.56. At this
time last year, the 1-year ARM averaged 2.80 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 little changed and near record lows this week
amid indicators of stronger economic growth and signs of tame inflation.
Third quarter real GDP growth was revised from an initial report of 2.0
percent to 2.7 percent, nearly matching the market consensus forecast.
Meanwhile, the12-month growth rate of the core price index of consumer
expenditures remained at 1.7 percent in October which is on the low end
of the Federal Reserve’s projection range for this year.

“The housing market is aiding in this recovery. For instance, fixed
residential investment added positive growth over the past six
consecutive quarters and in the third quarter alone contributed 0.3
percentage points to real GDP growth. In addition, residential
construction spending was up 3 percent between September and October.
And, pending home sales saw a 5.2 percent increase in October to its
highest reading since March 2007.”

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