WASHINGTON (MNI) – The following is the text of the latest Freddie
Mac Primary Mortgage Market Survey released Thursday:

FIXED MORTGAGE RATES MOVE HIGHER FOR FOURTH CONSECUTIVE WEEK

Freddie Mac (OTC: FMCC) today released the results of its Primary
Mortgage Market Survey (PMMS ), showing fixed mortgage rates following
long-term Treasury yields higher amid continued positive data on the
housing market. This marks the fourth straight week of fixed mortgage
rates gradually moving higher.

News Facts

– 30-year fixed-rate mortgage (FRM) averaged 3.66 percent with an
average 0.7 point for the week ending August 23, 2012, up from last week
when it averaged 3.62 percent. Last year at this time, the 30-year FRM
averaged 4.22 percent.

– 15-year FRM this week averaged 2.89 percent with an average 0.7
point, up from last week when it averaged 2.88 percent. A year ago at
this time, the 15-year FRM averaged 3.44 percent.

– 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM)
averaged 2.80 percent this week with an average 0.6 point, up from last
week when it averaged 2.76 percent. A year ago, the 5-year ARM averaged
3.07 percent.

– 1-year Treasury-indexed ARM averaged 2.66 percent this week with
an average 0.4 point, down from last week when it averaged 2.69 percent.
At this time last year, the 1-year ARM averaged 2.93percent.

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 inched upward this week along with other
long-term yields. The Census Bureau reported that residential building
permits were up in July, although builders slowed the pace of
construction starts on one-family homes in July to the least since March
while apartment and condominium building picked up to the most since
April. Existing home sales rose in July from June’s eight-month low and
the median sales price jumped 9.4 percent from a year earlier,
representing the largest 12-month gain since January 2006. The price
gain was broad-based, with annual increases registered in all four
regions of the U.S. and led by a 24.5 percent increase in the West.”

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

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