Google+
  • Ocwen23.62+0.22 +0.94%
  • Zillow120.21+4.38 +3.78%
  • Trulia51.47+1.83 +3.69%
  • NationStar30.13+0.27 +0.90%
  • CoreLogic33.12-0.06 -0.18%
  • RE/MAX33.57+0.47 +1.42%
  • Fannie Mae2.455-0.035 -1.41%
  • Freddie Mac2.38-0.03 -1.24%
  • Wells Fargo54.28+0.40 +0.74%
  • CitiMortgage54.13-0.20 -0.37%
  • Bank of America17.11+0.01 +0.06%
  • Fidelity National Financial32.08+0.20 +0.63%
  • First American32.15+0.25 +0.78%
  • AUDUSD=X0.8551N/A N/A
  • USDJPY=X117.7155N/A N/A
  • 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.

Bookmark and Share

About Author: Brittany Dunn

Avatar of Brittany Dunn
This user has not filled out their bio!

Leave a Reply

Scroll To Top