

<p align=center><b>Mortgage Rates Update</b></p>

<p>Freddie Mac (NYSE:FRE) released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 4.71 percent with an average 0.7 point for the week ending 5/5/2011, 

down
 from last week when it averaged 4.78 percent.  Four weeks ago at this time, the 30-year fixed rate mortgage averaged 4.87 percent.

<p>The 15-year FRM this week averaged 3.89 percent with an average 0.7 point, 

down
 from last week when it averaged 3.97 percent. Four weeks ago at this time, the 15-year fixed rate mortgage averaged 4.1 percent.

<p>The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.47 percent this week, with an average 0.6 point, 
down
 from last week when it averaged 3.51 percent. Four weeks ago, the 5-year adjustable rate mortgage averaged 3.72 percent. 

<p>The 1-year Treasury-indexed ARM averaged 3.14 percent this week with an average 0.5 point, 
down
 from last week when it averaged 3.15 percent. Four weeks ago, the 1-year adjustable rate mortgage averaged 3.72 percent.  

<p>"Weaker economic data reduced Treasury bond yields and allowed mortgage rates to drift lower for the third consecutive week.," said Frank Nothaft, Freddie Mac vice president and chief economist.