WASHINGTON (MNI) – The following is the text of statement from
Freddie Mac Thursday regarding its survey of weekly mortgage rates:
Freddie Mac today released the results of its Primary Mortgage
Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM)
averaged 4.99 percent with an average 0.6 point for the week ending
March 25, 2010, up slightly from last week when it averaged 4.96
percent. Last year at this time, the 30-year FRM averaged 4.85 percent.
The 15-year FRM this week averaged 4.34 percent with an average 0.6
point, up slightly from last week when it averaged 4.33 percent. A year
ago at this time, the 15-year FRM averaged 4.58 percent.
The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM)
averaged 4.14 percent this week, with an average 0.6 point, up from last
week when it averaged 4.09 percent. A year ago, the 5-year ARM averaged
4.98 percent.
The 1-year Treasury-indexed ARM averaged 4.20 percent this week
with an average 0.6 point, up from last week when it averaged 4.12
percent. At this time last year, the 1-year ARM averaged 4.85 percent.
(Average commitment rates should be reported along with average
fees and points to reflect the total cost of obtaining the mortgage.)
“Mortgage rates inched up slightly this week as bond yields rose
even further,” said Frank Nothaft, Freddie Mac vice president and chief
economist. “Interest rates on 30-year fixed mortgages, however, were
still below 5 percent for the fourth consecutive week.
“Household debt burdens on aggregate continue to improve through
the end of 2009. The Federal Reserve reported that the financial
obligations for homeowners declined to under 16.1 percent of their
disposable income in the fourth quarter, which represents the lowest
share since the third quarter of 2003. Similarly, the obligations share
for renters fell below 24.4 percent, the lowest since the end of 1993.”
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: MAUDS$,M$$AG$,M$U$$$]
