My Real Estate Blog

August 20th, 2010 7:40 AM
Freddie Mac today released the results of its Primary Mortgage Market Survey showing that for yet another week, the fixed-rate mortgages reached another low, while the 5-year adjustable rate remained tied at its low for this survey.

30-year fixed-rate mortgage averaged 4.42% with an average 0.7 point for the week ending August 19, 2010, down from last week when it averaged 4.44%. Last year at this time, the 30-year averaged 5.12%.

5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.56% this week, with an average 0.6 point, unchanged from last week. A year ago, the 5-year ARM averaged 4.57%.

Investors in long-term bonds appear very confident that inflation will remain in check, and as a result long-term fixed mortgage rates have continued to fall. This week marks the ninth straight week in the Primary Mortgage Market Survey that 30-year-fixed mortgage rates have met or set a new record low.

This week's release of the Consumer Price Index indicates that current inflation is very low. The 12-month growth in the core consumer price index has remained at only 0.9% for four straight months ending in July. The last time price growth was this low was the year ending January 1966.

Posted by Jim McCowan on August 20th, 2010 7:40 AMPost a Comment (0)
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