Google+
  • Ocwen7.31-0.13 -1.75%
  • Zillow24.65-0.01 -0.04%
  • Trulia47+0 +0%
  • NationStar16.14-0.58 -3.47%
  • CoreLogic37.17-0.78 -2.06%
  • RE/MAX36.50-0.18 -0.49%
  • Fannie Mae2.33-0.04 -1.69%
  • Freddie Mac2.23-0.03 -1.33%
  • Wells Fargo51.69-1.64 -3.08%
  • CitiMortgage51.32-2.16 -4.04%
  • Bank of America15.805-0.535 -3.274%
  • Fidelity National Financial36.38-0.03 -0.08%
  • First American38.21-0.65 -1.67%
  • AUDUSD=X0.7035-0.0075 -1.0478%
  • USDJPY=X119.9500-1.2850 -1.0599%
  • WP Stock Ticker
Home | News | Market Studies | Mortgage Rates Near Record Lows: Freddie Mac
Print This Post Print This Post

Mortgage Rates Near Record Lows: Freddie Mac

Amid stabilization within the housing market, ""Freddie Mac"":http://www.freddiemac.com/ reported Thursday that mortgage rates continued to inch down this week, hovering near record lows.

[IMAGE]

""Mortgage rates eased for the second week, while economic data releases suggest that the housing market may be in a slow state of recovery,"" said Frank Nothaft, Freddie Mac VP and chief economist.

[COLUMN_BREAK]

For the week ending February 18, 2010, the average rate for 30-year fixed mortgages dropped to 4.93 percent with an average 0.7 point, Freddie Mac's Primary Mortgage Market Survey (PMMS) found. This week's average marked a 0.04 percent decline from last week and a year-over-year reduction of 0.11 percent.

In addition, Freddie Mac reported a dip in the average rate for 15-year fixed mortgages. Coming in at 4.33 percent with an average 0.6 point, rates for 15-year fixed mortgages fell 0.01 percent from week-to-week and decreased 0.35 percent from the same week in 2009.

According to the PMMS, adjustable-rate mortgages (ARMs) also followed the overall trend of declining rates. The 5-year Treasury-indexed ARM averaged 4.12 percent with an average 0.5 point this week, down 0.07 percent from last week and 0.92 percent year-over-year. The 1-year Treasury-indexed ARM averaged 4.23 percent with an average 0.6 point, marking a 0.1 percent drop from week-to-week and a 0.57 percent decline from last year at this time.

About Author: Brittany Dunn

unemployment-two

Leave a Reply

Scroll To Top