Oct. 25, 2012
(OTC: FMCC) today released the results of its
Primary Mortgage Market Survey
), showing fixed mortgage rates moving slightly higher while continuing to remain near their all-time lows helping to support the housing market.
- 30-year fixed-rate mortgage (FRM) averaged 3.41 percent with an average 0.7 point for the week ending October 25, 2012, up from last week when it averaged 3.37 percent. Last year at this time, the 30-year FRM averaged 4.10 percent.
- 15-year FRM this week averaged 2.72 percent with an average 0.6 point, up from last week when it averaged 2.66 percent. A year ago at this time, the 15-year FRM averaged 3.38 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.75 percent this week with an average 0.6 point, the same as last week. A year ago, the 5-year ARM averaged 3.08 percent.
- 1-year Treasury-indexed ARM averaged 2.59 percent this week with an average 0.4 point, down from last week when it averaged 2.60 percent last week. At this time last year, the 1-year ARM averaged 2.90 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
. Borrowers may still pay closing costs which are not included in the survey.
, vice president and chief economist, Freddie Mac.
"Mortgage rates remained relatively unchanged this week and should continue to support the housing market and mortgage refinance.
Existing home sales
in September eased slightly to 4.75 million but was the second strongest annualized pace since
new home sales
rose to the most since
. In addition, low rates and strong demand have already pushed the FHFA purchase-only home price
in August to its highest level (seasonally adjusted) since
. And not surprisingly, the Federal Reserve in its
acknowledged the further signs of improvement in the housing sector, albeit from a depressed level."
Get the latest information from Freddie Mac's Office of the Chief Economist on Twitter:
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.