Freddie Mac (NYSE:FRE) released the results of its Primary Mortgage Market Survey® (PMMS®) in which mortgage rates for the 30-year fixed-rate mortgage (FRM) averaged 4.32 percent with an average 0.7 point for the week ending 9/2/2010,
down
from last week when rates for the home loan program averaged 4.36 percent. Four weeks ago, the 30-year FRM averaged 4.49%.
Mortgage rates for the 15-year FRM this week averaged 3.83 percent with an average 0.6 point,
down
from last week when rates for the home loan program averaged 3.86 percent. Four weeks ago, the 15-year FRM averaged 3.95%.
Mortgage rates for the 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.54 percent this week, with an average 0.6 point,
down
from last week when rates for the home loan program averaged 3.56 percent. Four weeks ago, the 5-year ARM averaged 3.63%.
Mortgage rates for the 1-year Treasury-indexed ARM averaged 3.5 percent this week with an average 0.7 point,
down
from last week when rates for the home loan program averaged 3.52 percent. Four weeks ago, the 1-year ARM averaged 3.63%.
"…with inflation expectations reasonably stable and the economy growing, inflation should remain near current readings for some time before rising slowly. As a result, mortgage rates eased further this week to new historic lows.," said Frank Nothaft, Freddie Mac vice president and chief economist.
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