Freddie Mac Weekly Update
30-Year Fixed-Rate Mortgage Drops Slightly
30-year fixed-rate mortgage: Averaged 4.95 percent with an average 0.7 point for the week ending March 11, 2010, down from last week when it averaged 4.97 percent. Last year at this time, the 30-year FRM averaged 5.03 percent.
The 15-year fixed-rate mortgage: Averaged 4.32 percent with an average 0.7 point, down from last week when it averaged 4.33 percent. A year ago at this time, the 15-year FRM averaged 4.64 percent.
Five-year indexed hybrid adjustable-rate mortgages ARMs: Averaged 4.05 percent this week, with an average 0.6 point, down from last week when it averaged 4.11 percent. A year ago, the 5-year ARM averaged 4.99 percent. Averaged 4.11 percent this week, with an average 0.6 point, down from last week when it averaged 4.16 percent. A year ago, the 5-year ARM averaged 5.08 percent.
One-year Treasury-indexed ARMs: Averaged 4.22 percent this week with an average 0.6 point, down from last week when it averaged 4.27 percent. At this time last year, the 1-year ARM averaged 4.80 percent.
Freddie Sayz
During a light week of mixed economic reports, mortgage rates eased somewhat, said Frank Nothaft, Freddie Mac vice president and chief economist. Pending existing home sales fell 7.6 percent in January, well below the market consensus of a 1 percent gain. Meanwhile, the economy lost only 36,000 jobs in February, fewer than market forecasts, and the unemployment rate held steady at 9.7 percent. In addition, revisions added a net 35,000 workers to January and December combined.
30-year fixed-rate mortgage: Averaged 4.95 percent with an average 0.7 point for the week ending March 11, 2010, down from last week when it averaged 4.97 percent. Last year at this time, the 30-year FRM averaged 5.03 percent.
The 15-year fixed-rate mortgage: Averaged 4.32 percent with an average 0.7 point, down from last week when it averaged 4.33 percent. A year ago at this time, the 15-year FRM averaged 4.64 percent.
Five-year indexed hybrid adjustable-rate mortgages ARMs: Averaged 4.05 percent this week, with an average 0.6 point, down from last week when it averaged 4.11 percent. A year ago, the 5-year ARM averaged 4.99 percent. Averaged 4.11 percent this week, with an average 0.6 point, down from last week when it averaged 4.16 percent. A year ago, the 5-year ARM averaged 5.08 percent.
One-year Treasury-indexed ARMs: Averaged 4.22 percent this week with an average 0.6 point, down from last week when it averaged 4.27 percent. At this time last year, the 1-year ARM averaged 4.80 percent.
Freddie Sayz
During a light week of mixed economic reports, mortgage rates eased somewhat, said Frank Nothaft, Freddie Mac vice president and chief economist. Pending existing home sales fell 7.6 percent in January, well below the market consensus of a 1 percent gain. Meanwhile, the economy lost only 36,000 jobs in February, fewer than market forecasts, and the unemployment rate held steady at 9.7 percent. In addition, revisions added a net 35,000 workers to January and December combined.
Comments