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Fixed Mortgage Rates Continue to Set Record Lows

by the zac team at Ponce Realty

Greetings neighbors,

Following the trend in recent weeks, mortgage rates set new record lows yet again for the 8th week in the row according to Freddie Mac's Primary Mortgage Market Survey.

According to Freddie's survey for the week ending today, August 12th, 30-year FRM's came in at an average rate of 4.44% with an average 0.7 origination point. This number showed a decrease from last week's average of 4.49% and last year's average of 5.29%.

In addition, the survey showed a decrease in 15-year FRM's as well with an average rate of 3.92% and an average point of 0.6 when compared to last week's average of 3.95%. This number is also lower than last year's average of 4.68%.

The 5-year ARM came in this week averaging 3.56% with an average origination point of 0.7 in comparison to last week's 3.63% and last year's average of 4.75%.

Last but not least, the one-year Treasury-indexed ARM came in at 3.53% with an average point of 0.7 on the weekly survey in comparison to 3.55% last week. This time last year, the one-year Treasury-indexed ARM averaged 4.72%.

Fixed Rates Show Very Little Change From the Previous Week

by the zac team @ RE/MAX Greater Atlanta

Hello neighbors,

According to recent numbers, fixed rates showed very little change and remained pretty stable according to Freddie Mac's Primary Mortgage Market Survey (PMMS).

The survey revealed that the 30-year fixed-rate mortgage (FRM) averaged 5.06 percent with an average 0.7 point for the week ending April 29, 2010. This number changed very little from last week's number of 5.07 percent. In comparison to last year's number at this time, the 30-year FRM was at 4.78 percent.

As for the 15-year FRM, there was an average of 4.39 percent with an average 0.7 point which was the same as last week's number. Last year's 15-year FRM averaged 4.48 percent this time last year.

Freddie Mac's survey also showed an average of 4.25 percent with a 0.5 point average for the 1-year Treasury-indexed ARM this week. This number was up from last week's average of 4.22 percent and down from last year's average of 4.77 percent at this time.

Displaying blog entries 1-2 of 2

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Photo of Zac Pasmanick  Real Estate
Zac Pasmanick
RE/MAX Metro Atlanta Cityside
600 Virginia Avenue NE
Atlanta GA 30306
Office: 404-564-7272

 

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