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 average fixed mortgage
rates holding relatively stable this week amid signs that inflation
remains in check with the 30-year fixed up slightly at 3.90 percent and
15-year fixed at 3.13 percent. Meanwhile, the average 5-year ARM hit a
new all-time low of 2.78 percent, from its previously low of 2.80
percent set the first week of February, 2012.

News Facts

– 30-year fixed-rate mortgage (FRM) averaged 3.90 percent with an
average 0.8 point for the week ending April 19, 2012, up from last week
when it averaged 3.88 percent. Last year at this time, the 30-year FRM
averaged 4.80 percent.

– 15-year FRM this week averaged 3.13 percent with an average 0.7
point, up from last week when it averaged 3.11 percent. A year ago at
this time, the 15-year FRM averaged 4.02 percent.

– 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM)
averaged 2.78 percent this week, with an average 0.7 point, down from
last week when it averaged 2.85 percent. A year ago, the 5-year ARM
averaged 3.61 percent.

– 1-year Treasury-indexed ARM averaged 2.81 percent this week with
an average 0.6 point, up from last week when it averaged 2.80 percent.
At this time last year, the 1-year ARM averaged 3.16 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 held relatively stable this week amid signs
that inflation remains in check. Industrial production was flat in
March, a reading below the market consensus forecast. Meanwhile, both
headline inflation gauges (the consumer and producer price indexes) for
March were in line with market expectations.”

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

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