Mortgage Rates Update
Freddie Mac (NYSE:FRE) released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 4.95 percent with an average 0.7 point for the week ending 3/11/2010,
down
from last week when it averaged 4.97 percent. Four weeks ago at this time, the 30-year fixed rate mortgage averaged 4.97 percent.
The 15-year FRM this week averaged 4.32 percent with an average 0.7 point,
down
from last week when it averaged 4.33 percent. Four weeks ago at this time, the 15-year fixed rate mortgage averaged 4.34 percent.
The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 4.05 percent this week, with an average 0.6 point,
down
from last week when it averaged 4.11 percent. Four weeks ago, the 5-year adjustable rate mortgage averaged 4.19 percent.
The 1-year Treasury-indexed ARM averaged 4.22 percent this week with an average 0.6 point,
down
from last week when it averaged 4.27 percent. Four weeks ago, the 1-year adjustable rate mortgage averaged 4.19 percent.
"During a light week of mixed economic reports, mortgage rates eased somewhat," said Frank Nothaft, Freddie Mac vice president and chief economist.
