My Real Estate Blog

March 13th, 2010 6:32 AM
Freddie Mac released yesterday the results of its Primary Mortgage Market Survey in which the 30-year fixed-rate mortgage averaged 4.95 percent with an average 0.7 point for the week ending March 11, 2010, down from last week when it averaged 4.97 percent. Last year at this time, the 30-year FRM averaged 5.03 percent.

The 15-year FRM this week averaged 4.32 percent with an average 0.7 point, down from last week when it averaged 4.33 percent. A year ago at this time, the 15-year FRM averaged 4.64 percent. 

During a light week of mixed economic reports, mortgage rates eased somewhat.  Pending existing home sales fell 7.6 percent in January, well below the market consensus of a 1 percent gain. Meanwhile, the economy lost only 36,000 jobs in February, fewer than market forecasts, and the unemployment rate held steady at 9.7 percent. In addition, revisions added a net 35,000 workers to January and December combined.

Posted by Jim McCowan on March 13th, 2010 6:32 AMPost a Comment (0)
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