30-Year Fixed-Rate Mortgage Finishes Year Near Historic Low

         30-Year Fixed-Rate Mortgage Finishes Year Near Historic Low

PR Newswire

MCLEAN, Va., Dec. 27, 2012

MCLEAN, Va., Dec. 27, 2012 /PRNewswire/ --Freddie Mac (OTC: FMCC) today
released the results of its Primary Mortgage Market Survey® (PMMS®), showing
the average fixed mortgage rates finishing the year near record lows, helping
to keep homebuyer affordability high. The 30-year fixed eased slightly this
week to average 3.35 percent, while the 15-year fixed remained unchanged at
2.65 percent.

News Facts

  o30-year fixed-rate mortgage (FRM) averaged 3.35 percent with an average
    0.7 point for the week ending December 27, 2012, down from last week when
    it averaged 3.37 percent. Last year at this time, the 30-year FRM averaged
    3.95 percent.
  o15-year FRM this week averaged 2.65 percent with an average 0.7 point,
    unchanged from last week when it averaged 2.65 percent.  A year ago at
    this time, the 15-year FRM averaged 3.24 percent.
  o5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged
    2.70 percent this week with an average 0.7 point, down from last week when
    it averaged 2.71 percent. A year ago, the 5-year ARM averaged 2.88
    percent.
  o1-year Treasury-indexed ARM averaged 2.56 percent this week with an
    average 0.5 point, up from last week when it averaged 2.52. At this time
    last year, the 1-year ARM averaged 2.78 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 Regional and National Mortgage Rate Details and
Definitions. Borrowers may still pay closing costs which are not included in
the survey.

Quotes

Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.

"Mortgage rates ended this year near record lows. The 30-year fixed-rate
mortgage averaged 3.66 percent for 2012, the lowest annual average in at least
65 years. Rates on 30-year fixed mortgages were nearly 0.6 percentage points
below that of the beginning of the year, which translates into an interest
payment savings of nearly $98,600 over the life of a $200,000 loan. Moreover,
opting for a 15-year fixed mortgage at today's rates, a homeowner could save
an additional $138,400 in interest payments."

Get the latest information from Freddie Mac's Office of the Chief Economist on
Twitter: @FreddieMac

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. www.FreddieMac.com.

SOURCE Freddie Mac

Website: http://www.freddiemac.com
Contact: MEDIA, Ruth Fisher, +1-703-903-3974, Ruth_Fisher@FreddieMac.com