My Real Estate Blog

July 22nd, 2011 7:58 AM
Freddie Mac today released the results of its Primary Mortgage Market Survey which shows mortgage rates changing little over the previous week following mixed economic and housing data. The 30-year fixed average 4.52% and the 15-year fixed averaged 3.66%.

5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.27% this week, with an average 0.5 point, down from last week when it averaged 3.29%. A year ago, the 5-year ARM averaged 3.79%.

Mortgage rates were virtually unchanged this week amid mixed economic data reports. Although both the overall producer price index and consumer price index fell moderately in June on lower energy costs, the core price indexes inched up.

Recent housing data also varied. For example, single-family housing starts jumped 9.4% in June to the strongest pace since November 2010 and home builder confidence rebounded in July. Yet, existing home sales fell 0.8% in June and represented the fewest since November 2010.

Posted by Jim McCowan on July 22nd, 2011 7:58 AMPost a Comment (0)
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