My Real Estate Blog

December 17th, 2010 6:30 AM
Freddie Mac today released the results of its Primary Mortgage Market Survey showing that both fixed and short-term mortgage rates continued to rise this week. This was the fifth week in a row where fixed-rate mortgage rates were up.

30-year fixed-rate mortgages averaged 4.83% with an average 0.7 point for the week ending December 16, 2010, up from last week when it averaged 4.61%. Last year at this time, the 30-year averaged 4.94%.  

5-year Treasury-indexed hybrid adjustable-rate mortgages averaged 3.77% this week, with an average 0.7 point, up from last week when it averaged 3.60%. A year ago, the 5-year ARM averaged 4.37%.

Market concerns over stronger economic growth that, in the near term, could lead to an increase in inflation have sparked a rise in bond yields and mortgage rates have followed.
 
1) The growth in retail sales excluding automobiles in November was twice that of the market consensus forecast.
 
2) Industrial production showed the biggest gain in November since July, according to the Federal Reserve Board.

3) Consumer sentiment, as measured by the Thomson Reuters/University of Michigan index, rose to a six-month high in December.

Posted by Jim McCowan on December 17th, 2010 6:30 AMPost a Comment (0)
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