WASHINGTON (MNI) – The following is the text of the latest Freddie
Mac Primary Mortgage Market Survey released Thursday:
MORTGAGE RATES CHANGE LITTLE, REMAIN NEAR RECORD LOWS
Freddie Mac (OTC: FMCC) today released the results of its Primary
Mortgage Market Survey (PMMS ), showing fixed mortgage rates declining
or remaining the same from the previous week amid mixed economic data,
and continuing to hover around their all-time record lows.
– 30-year fixed-rate mortgage (FRM) averaged 3.55 percent with an
average 0.7 point for the week ending September 6, 2012, down from last
week when it averaged 3.59 percent. Last year at this time, the 30-year
FRM averaged 4.12 percent.
– 15-year FRM this week averaged 2.86 percent with an average 0.6
point, the same as last week. A year ago at this time, the 15-year FRM
averaged 3.33 percent.
– 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM)
averaged 2.75 percent this week with an average 0.7 point, down from
last week when it averaged 2.78 percent. A year ago, the 5-year ARM
averaged 2.96 percent.
– 1-year Treasury-indexed ARM averaged 2.61 percent this week with
an average 0.4 point, down from last week when it averaged 2.63 percent.
At this time last year, the 1-year ARM averaged 2.84 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.
Attributed to Frank Nothaft, vice president and chief economist,
“Mortgage rates were little changed over the holiday week amid
mixed economic data releases. Although consumer spending rose 0.4
percent in July, representing the largest gain in five months, the core
price index was unchanged suggesting little threat of inflation.
Consumer confidence picked up slightly in August according to the
University of Michigan, but remained below this year’s peak in May. And
the manufacturing industry contracted for the third consecutive month in
** MNI Washington Bureau: 202-371-2121 **