Mixed, 30-Year Fixed Averages 3.37 Percent
Dec. 20, 2012 /PRNewswire/ — Freddie Mac (OTC: FMCC) today released
the results of its Primary
Mortgage Market Survey® (PMMS®), showing fixed mortgage rates mixed
following data reports on inflation and the housing construction market. The
30-year fixed moved up averaging 3.37 percent, while the 15-year fixed eased to
2.65 percent, both remaining near their record lows.
l 30-year fixed-rate
mortgage (FRM) averaged 3.37 percent with an average 0.7 point for the week
ending December 20, 2012, up from last week when it averaged 3.32 percent. Last
year at this time, the 30-year FRM averaged 3.91 percent.
l 15-year FRM this
week averaged 2.65 percent with an average 0.7 point, down from last week when
it averaged 2.66 percent. A year ago at this time, the 15-year FRM
averaged 3.21 percent.
Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.71
percent this week with an average 0.7 point, up from last week when it averaged
2.70 percent. A year ago, the 5-year ARM averaged 2.85 percent.
Treasury-indexed ARM averaged 2.52 percent this week with an average 0.4
point, down from last week when it averaged 2.53. At this time last year, the
1-year ARM averaged 2.77 percent.
commitment rates should be reported along with average fees and points to
reflect the total upfront cost of obtaining the mortgage. Visit the following
links for Regional
and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs, which are not
included in the survey.
Frank Nothaft, vice president and chief economist, Freddie Mac.
“Mortgage rates were mixed this week following data reports on
stable inflation and a thriving home construction market. The 12-month growth
in the core consumer price index
has remained between 1.9 and 2.1 percent for the past five consecutive months
ending in November. Meanwhile, housing
starts averaged the strongest three months in November since September
2008, and homebuilder
confidence rose in December to its highest reading since April 2008.”
Get the latest
information from Freddie Mac’s Office of the Chief Economist on Twitter: @FreddieMac.
SUMMARY OF SURVEY RESULTS
|30-Year Fixed Rate Mortgages||US||West|
|Fees & Points||0.7||0.8|
|15-Year Fixed Rate Mortgages||US||West|
|Fees & Points||0.7||0.7|
|5/1-Year Adjustable Rate Mortgages||US||West|
|Fees & Points||0.7||0.6|
|1-Year Adjustable Rate Mortgages||US||West|
|Fees & Points||0.4||0.3|
|The National Mortgage Rate Snapshot||One Year Ago||One Week Ago|
|30-YR||15-YR||5/1-YR||1-YR ARM||30-YR||15-YR||5/1-YR||1-YR ARM|
|Fees & Points||0.8||0.8||0.6||0.6||0.7||0.6||0.6||0.5|