Mortgage Rates Mostly Flat
MCLEAN, VA -- (Marketwire) -- 01/17/13 -- Freddie Mac (OTCBB: FMCC)
today released the results of its Primary Mortgage Market Survey(R)
(PMMS(R)), showing mortgage rates largely unchanged from the previous
week helping to keep homebuyer affordability high, refinancing strong
and should continue to aid the ongoing housing recovery.
-- 30-year fixed-rate mortgage (FRM) averaged 3.38 percent with an
average 0.7 point for the week ending January 17, 2013, down from last
week when it averaged 3.40 percent. Last year at this time, the
30-year FRM averaged 3.88 percent.
-- 15-year FRM this week averaged 2.66 percent with an average 0.7 point,
the same as last week. A year ago at this time, the 15-year FRM
averaged 3.17 percent.
-- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged
2.67 percent this week with an average 0.6 point, the same as last
week. A year ago, the 5-year ARM averaged 2.82 percent.
-- 1-year Treasury-indexed ARM averaged 2.57 percent this week with an
average 0.4 point, down from last week when it averaged 2.60. At this
time last year, the 1-year ARM averaged 2.74 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.
Attributed to Frank Nothaft,
vice president and chief economist, Freddie Mac.
"Mortgage rates were flat to down a little this week amid reports
that inflation remains contained. The overall producer price index
rose 0.1 percent between November and December, below the market
consensus forecast, and the consumer price index was unchanged. For
the year as a whole, consumer prices rose just 1.7 percent in 2012,
almost half that of 2011's increase of 3.0 percent."
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.
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