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

Freddie Mac (OTC: FMCC) today released the results of its Primary
Mortgage Market Survey (PMMS), showing mortgage rates easing to new
all-time record lows for all products covered in the survey helping to
keep homebuyer affordability high. The average for the 30-year fixed
mortgage rate has been below 4.00 percent for six consecutive weeks.

News Facts

– 30-year fixed-rate mortgage (FRM) averaged 3.89 percent with an
average 0.7 point for the week ending January 12, 2012, down from last
week when it averaged 3.91 percent. Last year at this time, the 30-year
FRM averaged 4.71 percent.

– 15-year FRM this week averaged 3.16 percent with an average 0.8
point, down from last week when it averaged 3.23 percent. A year ago at
this time, the 15-year FRM averaged 4.08 percent.

– 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM)
averaged 2.82 percent this week, with an average 0.7 point, down from
last week when it averaged 2.86 percent. A year ago, the 5-year ARM
averaged 3.72 percent.

– 1-year Treasury-indexed ARM averaged 2.76 percent this week with
an average 0.6 point, down from last week when it averaged 2.80 percent.
At this time last year, the 1-year ARM averaged 3.23 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 eased slightly this week to all-time record lows
following mixed indicators in the labor market. Although the economy
added 1.6 million jobs in 2011, which was the most since 2006, the
unemployment rate remained historically elevated. The 2009 to 2011
period had the highest three-year average unemployment rate since 1939
to 1941. Moreover, the Federal Reserve indicated in its January 11th
regional economic review that most industries saw limited permanent
hiring at the end of last year.”

** Market News International Washington Bureau: 202-371-2121 **

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