Mortgage Rates Down, According to Freddie Mac Survey
Wednesday, August 27, 2008
Freddie Mac released the results of its weekly Primary Mortgage Market Survey (PMMS) today, which showed long-term rates dipped slightly from figures reported last week.
The 30-year fixed-rate mortgage (FRM) averaged 6.47 percent, compared to 6.52 percent last week, when it remained unchanged for three consecutive weeks. Last year at this time, the 30-year FRM averaged 6.52 percent. The 15-year FRM averaged 6.0 percent, down from last week when it averaged 6.07 percent. A year ago, the 15-year FRM averaged 6.18 percent.
Five-year hybrid adjustable-rate mortgages (ARMs) averaged 5.99 percent this week, a slight decrease from last week when they averaged 6.02 percent. The five-year ARM averaged 6.34 percent a year ago. One-year ARMs averaged 5.29 percent this week, an increase from last week's average of 5.18 percent. Last year they averaged 5.60 percent.
Lenders charged an average of 0.7 percent in fees and points for FRMs, and 0.6 and 0.5 percent for five-year and one-year ARMs, respectively – all figures that held steady from last week.
To view a summary of Freddie Mac's survey results, click here.
The 30-year fixed-rate mortgage (FRM) averaged 6.47 percent, compared to 6.52 percent last week, when it remained unchanged for three consecutive weeks. Last year at this time, the 30-year FRM averaged 6.52 percent. The 15-year FRM averaged 6.0 percent, down from last week when it averaged 6.07 percent. A year ago, the 15-year FRM averaged 6.18 percent.
Five-year hybrid adjustable-rate mortgages (ARMs) averaged 5.99 percent this week, a slight decrease from last week when they averaged 6.02 percent. The five-year ARM averaged 6.34 percent a year ago. One-year ARMs averaged 5.29 percent this week, an increase from last week's average of 5.18 percent. Last year they averaged 5.60 percent.
Lenders charged an average of 0.7 percent in fees and points for FRMs, and 0.6 and 0.5 percent for five-year and one-year ARMs, respectively – all figures that held steady from last week.
To view a summary of Freddie Mac's survey results, click here.


