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 average fixed mortgage
rates starting the year at or near their all-time lows. The 30-year
fixed averaged 3.91 percent matching its all-time record low amid recent
data showing signs of improvement in the housing market and
manufacturing industry. This marks the fifth consecutive week the
30-year fixed has averaged below 4.00 percent.

News Facts

– 30-year fixed-rate mortgage (FRM) averaged 3.91 percent with an
average 0.8 point for the week ending January 5, 2012, down from last
week when it averaged 3.95 percent. Last year at this time, the 30-year
FRM averaged 4.77 percent.

– 15-year FRM this week averaged 3.23 percent with an average 0.8
point, down from last week when it averaged 3.24 percent. A year ago at
this time, the 15-year FRM averaged 4.13 percent.

– 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM)
averaged 2.86 percent this week, with an average 0.7 point, down from
last week when it averaged 2.88 percent. A year ago, the 5-year ARM
averaged 3.75 percent.

– 1-year Treasury-indexed ARM averaged 2.80 percent this week with
an average 0.6 point, up from last week when it averaged 2.78 percent.
At this time last year, the 1-year ARM averaged 3.24 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.

– “Fixed mortgage rates started the year a little lower this week
just as recent data reports indicate the housing market and
manufacturing industry are showing signs of improvement. Pending
existing home sales in November jumped 7.3 percent, nearly five times
greater than the market consensus forecast, to its strongest pace since
April 2010. In addition, construction spending rose 1.2 percent in
November, supported by the residential sector which exhibited its fourth
consecutive monthly increase. Similarly, manufacturing expanded in
December at the fastest pace in six months.”

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

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