Thursday, May 03, 2012

Freddie Mac: Fixed Mortgage Rates Average New All-Time Record Lows

by Bill McBride on 5/03/2012 07:12:00 PM

This was released earlier ... from Freddie Mac: Fixed Mortgage Rates Average New All-Time Record Lows

Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates finding new all-time record lows ... The 30-year fixed averaged 3.84 percent, down from its previous all-time record low of 3.87 percent last registered on February 9, 2012. The 15-year fixed averaged 3.07 percent, also dropping below its previous all-time record low of 3.11 percent set April 12 of this year. The 1-year ARM also averaged a new all-time record low in the PMMS at 2.70 percent.

30-year fixed-rate mortgage (FRM) averaged 3.84 percent with an average 0.8 point for the week ending May 3, 2012, down from last week when it averaged 3.88 percent. Last year at this time, the 30-year FRM averaged 4.71 percent.
Freddie Mac Mortgage Rate SurveyClick on graph for larger image.

This graph shows the 15 and 30 year fixed rates from the Freddie Mac survey. The Primary Mortgage Market Survey® started in 1971 (15 year in 1991).

The Ten Year treasury yield is near a record low at 1.92%.

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