My Real Estate Blog

Freddie Mac today released the results of its Primary Mortgage Market Survey coming on the heels of the Federal Reserve's recent announcements. The conventional 30-year fixed averaged an all-time record low at 4.01%; likewise the 15-year fixed averaged an all-time record low at 3.28% for the week.  

5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.02% this week, with an average 0.6 point, matching last week when it also averaged 3.02%. A year ago, the 5-year ARM averaged 3.52%.

The spring and summer home-buying season gave a boost to a number of house price indexes. The Federal Housing Finance Agency reported that its National index (not seasonally adjusted) rose for the fourth consecutive month in July. Similarly, the S&P/Case-Shiller® 20-City composite index, which has a broader scope of properties, rose 0.9% between June and July with 17 of the cities experiencing positive monthly growth. Finally, CoreLogic® reported that its index, excluding distressed sales, increased at a 1.7% monthly rate for the same month.


Posted by Jim McCowan on September 30th, 2011 7:23 AMPost a Comment (0)

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