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 fixed mortgages rates
breaking their streak of record-breaking lows and moving higher on mixed
Eurozone and domestic economic data. Before this week, the average rate
on the 30-year fixed had fallen to or matched record-low levels in 13 of
the past 14 weeks.

News Facts

– 30-year fixed-rate mortgage (FRM) averaged 3.55 percent with an
average 0.7 point for the week ending August 2, 2012, up from last week
when it averaged 3.49 percent. Last year at this time, the 30-year FRM
averaged 4.39 percent.

– 15-year FRM this week averaged 2.83 percent with an average 0.6
point, up from last week when it averaged 2.80 percent. A year ago at
this time, the 15-year FRM averaged 3.54 percent.

– 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM)
averaged 2.75 percent this week with an average 0.6 point, up from last
week when it averaged 2.74 percent. A year ago, the 5-year ARM averaged
3.18 percent.

– 1-year Treasury-indexed ARM averaged 2.70 percent this week with
an average 0.4 point, down from last week when it averaged 2.71 percent.
At this time last year, the 1-year ARM averaged 3.02 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.

– “Recent announcements of additional debt relief for the Eurozone
and mixed domestic economic indicators added upward pressure on Treasury
yields as well as mortgage rates this week. The U.S. economy grew at a
1.5 percent annualized rate in the second quarter, slower than the 2.0
percent growth in the first quarter with consumer spending in June
unchanged from May. However, consumer confidence rose in July for the
first time in five months according to The Conference Board.

– “Housing data were also assorted. The S&P-500 Case Shiller
20-City Composite Index rose for the fourth consecutive month in May
with 18 of the cities experiencing positive growth. Nonetheless, pending
home sales fell 1.4 percent in June, below the market consensus forecast
of a 0.3 percent increase, and May’s figure had a downward revision.”

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

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