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 average fixed mortgage
rates edging slightly higher while remaining near their all-time record
lows coming off the employment report for September.

News Facts

– 30-year fixed-rate mortgage (FRM) averaged 3.39 percent with an
average 0.7 point for the week ending October 11, 2012, up from last
week when it averaged 3.36 percent. Last year at this time, the 30-year
FRM averaged 4.12 percent.

– 15-year FRM this week averaged 2.70 percent with an average 0.6
point, up from last week when it averaged 2.69 percent. A year ago at
this time, the 15-year FRM averaged 3.37 percent.

– 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM)
averaged 2.73 percent this week with an average 0.6 point, up from last
week when it averaged 2.72 percent. A year ago, the 5-year ARM averaged
3.06 percent.

– 1-year Treasury-indexed ARM averaged 2.59 percent this week with
an average 0.4 point, up from last week when it averaged 2.57 percent.
last week. At this time last year, the 1-year ARM averaged 2.90 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 this holiday week following the
employment report for September. Payroll employment increased by 114,000
workers, although manufacturing jobs dipped for the second month in a
row. Employment in the prior two months was revised up 86,000 and the
unemployment rate fell to 7.8 percent, marking the lowest rate since
January 2009.”

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

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