My Real Estate Blog

September 25th, 2010 5:53 AM
Freddie Mac released the results of its Primary Mortgage Market Survey showing the 30-year fixed-rate mortgage rate and the 15-year fixed-rate were unchanged; shorter-term rates were mixed.

30-year fixed-rate mortgage averaged 4.37% with an average 0.7 point for the week ending September 23, 2010. Last year at this time, the 30-year averaged 5.04%.  

5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.54% this week, with an average 0.6 point, down slightly from last week when it averaged 3.55%. A year ago, the 5-year ARM averaged 4.51%.

In its September 21st policy committee statement, the Federal Reserve indicated that the pace of recovery in output and employment has slowed in recent months. In addition, inflation was at levels somewhat below its comfort zone. The perception of slow growth and low inflation removed any upward pressure on fixed mortgage rates this week.

Posted by Jim McCowan on September 25th, 2010 5:53 AMPost a Comment (0)
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