McLean, VA – Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 6.42 percent with an average 0.7 point for the week ending June 19, 2008, up from last week when it averaged 6.32 percent. Last year at this time, the 30-year FRM averaged 6.69 percent. The last time the 30-year FRM was this high was the week ending September 27, 2007, when it averaged 6.42 percent.
The 15-year FRM this week averaged 6.02 percent with an average 0.7 point, up from last week when it averaged 5.93 percent. A year ago at this time, the 15-year FRM averaged 6.37 percent. The last time the 15-year FRM was higher was the week ending October 18, 2007, when it averaged 6.08 percent.
Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 5.89 percent this week, with an average 0.6 point, up from last week when it averaged 5.70 percent. A year ago, the 5-year ARM averaged 6.31 percent. This is the highest the 5-year ARM has been since the week ending December 27, 2007, when it averaged 5.90 percent.
One-year Treasury-indexed ARMs averaged 5.19 percent this week with an average 0.6 point, up from last week when it was 5.09 percent. At this time last year, the 1-year ARM averaged 5.66 percent.
SUMMARY OF SURVEY RESULTS
| Fixed-Rate Mortgages | ||||
| Average Conventional 30-Year Rate | Fees & Points | Average Conventional 15-Year Rate | Fees & Points | |
| US | 6.42 | 0.7 | 6.02 | 0.7 |
| Northeast | 6.47 | 0.6 | 6.06 | 0.6 |
| Southeast | 6.37 | 0.9 | 5.99 | 0.8 |
| N. Central | 6.50 | 0.6 | 6.10 | 0.5 |
| Southwest | 6.40 | 0.8 | 6.00 | 0.8 |
| West | 6.41 | 0.8 | 6.01 | 0.8 |
| 5/1-Year Adjustable-Rate Mortgages | |||
| First Commitment Rate | Fees & Points | Margin | |
| US | 5.89 | 0.6 | 2.76 |
| Northeast | 5.85 | 0.6 | 2.76 |
| Southeast | 5.85 | 0.7 | 2.76 |
| N. Central | 6.08 | 0.5 | 2.76 |
| Southwest | 5.92 | 0.7 | 2.76 |
| West | 5.86 | 0.6 | 2.77 |
| One-Year Adjustable-Rate Mortgages | |||
| First Commitment Rate | Fees & Points | Margin | |
| US | 5.19 | 0.6 | 2.76 |
| Northeast | 5.28 | 0.4 | 2.75 |
| Southeast | 5.34 | 0.7 | 2.75 |
| N. Central | 4.88 | 0.6 | 2.75 |
| Southwest | 5.38 | 0.6 | 2.81 |
| West | 5.11 | 0.7 | 2.78 |
Comments on this entry are closed.