My Real Estate Blog

December 3rd, 2010 8:17 AM
Freddie Mac today released the results of its Primary Mortgage Market Survey showing that  both fixed and short-term mortgage rates rose this week. This was the third week in a row where fixed-rate mortgage rates were up.

30-year fixed-rate mortgage averaged 4.46% with an average 0.8 point for the week ending December 2, 2010, up from last week when it averaged 4.40%. Last year at this time, the 30-year averaged 4.71%.

5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.49% this week, with an average 0.6 point, up from last week when it averaged 3.45%. A year ago, the 5-year ARM averaged 4.19%.

Mortgage rates followed bond yields higher this week as recently released economic data suggest the economy may be stronger this quarter than the previous. Additionally, the Federal Reserve noted that 10 of its 12 regions saw improvement through mid-November in its December 1st regional economic review.

Posted by Jim McCowan on December 3rd, 2010 8:17 AMPost a Comment (0)
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