My Real Estate Blog

October 22nd, 2010 6:41 AM
Freddie Mac today released the results of its Primary Mortgage Market Survey showing that the 30-year fixed-rate mortgage rate rose slightly for the first time in five weeks. 

30-year fixed-rate mortgage (FRM) averaged 4.21% with an average 0.8 point for the week ending October 21, 2010, up from last week when it averaged 4.19%. Last year at this time, the 30-year averaged 5.00%.

5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.45% this week, with an average 0.6 point, down from last week when it averaged 3.47%. A year ago, the 5-year ARM averaged 4.40%. The 5-year ARM has not been lower since Freddie Mac started tracking it in January 2005. .

Mixed inflation signals kept fixed mortgage rates at bay this week. The headline producer price index jumped 0.4% between August and September, which was quadruple the market consensus, while the consumer price index fell below the market forecast. Rates on the traditional 1-year and 5-year hybrid ARMs eased to all-time record lows.

New construction on one-family homes rose 4.4% in September to the strongest pace since May. 

Posted by Jim McCowan on October 22nd, 2010 6:41 AMPost a Comment (0)
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