Fixed Mortgage Rates Match All-time Record Lows

Your Guy for That Thursday, July 5th, 2012 No Comments

In Freddie Mac’s results of its Primary Mortgage Market Survey®, the average fixed mortgage rates were largely unchanged helping to keep home buyer affordability high for those in the market to purchase or looking to refinance. Both the 30-year fixed and 15-year fixed rate mortgages matched their all-time record lows.

 

  • 30-year fixed-rate mortgage (FRM) averaged 3.66 percent with an average 0.7 point for the week ending June 28, 2012, the same as last week. Last year at this time, the 30-year FRM averaged 4.51 percent. 
  • 15-year FRM this week averaged 2.94 percent with an average 0.7 point, down from last week when it averaged 2.95 percent. A year ago at this time, the 15-year FRM averaged 3.69 percent. 
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.79 percent this week, with an average 0.6 point, up from last week when it averaged 2.77. A year ago, the 5-year ARM averaged 3.22 percent. 
  • 1-year Treasury-indexed ARM averaged 2.74 percent this week with an average 0.4 point, the same as last week. At this time last year, the 1-year ARM averaged 2.97 percent.According to Frank Nothaft, vice president and chief economist, Freddie Mac: “Mortgage rates were virtually unchanged this week hovering at or near record lows and should further help to support a recovering housing market. Both the S&P/Case Shiller® 20-city composite and the Federal Housing Finance Agency’s house price indexes showed over a 0.5 percent monthly increase in April. Meanwhile, pending existing home sales rebounded in May by 5.9 percent to match a two-year high and new home sales jumped 7.6 percent to its fastest pace since April 2010.”

Posted In : Atlanta, Atlanta Beltline, College Park, East Point, Feed, Fort McPherson, Freddie Mac, Fulton County, Hapeville, Homepage, Interest Rates, Metro Atlanta, Mortgage News, Real Estate

This entry was posted on Thursday, July 5th, 2012 at 9:08 am. and is filed under Atlanta, Atlanta Beltline, College Park, East Point, Feed, Fort McPherson, Freddie Mac, Fulton County, Hapeville, Homepage, Interest Rates, Metro Atlanta, Mortgage News, Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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