MCLEAN, VA — (Marketwire) — 03/07/13 — (OTCQB: FMCC) today released the results of its (PMMS®), showing average fixed mortgage rates largely holding steady from the previous week, remaining near their 65-year record lows, and continuing to provide support for the housing recovery.
(FRM) averaged 3.52 percent with an average 0.7 point for the week ending March 7, 2013, up from last week when it averaged 3.51 percent. Last year at this time, the 30-year FRM averaged 3.88 percent.
this week averaged 2.76 percent with an average 0.7 point, the same as last week. A year ago at this time, the 15-year FRM averaged 3.13 percent.
(ARM) averaged 2.63 percent this week with an average 0.5 point, up from last week when it averaged 2.61 percent. A year ago, the 5-year ARM averaged 2.81 percent.
averaged 2.63 percent this week with an average 0.3 point, down from last week when it averaged 2.64 percent. At this time last year, the 1-year ARM averaged 2.73 percent.
Average 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 the and . Borrowers may still pay closing costs which are not included in the survey.
Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.
“With growing only 0.1 percent in the fourth quarter of 2012, inflation remains at bay and consequently mortgage rates low. In fact, the price of personal consumption expenditures rose only 0.1 percent in January which was below the market consensus forecast. Moreover, these low mortgage rates are helping to revive the housing market. For instance the CoreLogic® home price rose 9.7 percent between January 2012 and 2013, marking the largest annual increase since April 2006.”
Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation-s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four homebuyers and is one of the largest sources of financing for multifamily housing. . Twitter:
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