My Real Estate Blog

June 11th, 2010 6:35 AM
Freddie Mac today released the results of its Primary Mortgage Market Survey® showing the 30-year fixed-rate mortgage (FRM) averaged 4.72% for the week ending June 10, 2010, down from last week when it averaged 4.79%. Last year at this time, the 30-year FRM averaged 5.59%.

The 15-year FRM this week averaged 4.17%. A year ago at this time, the 15-year averaged 5.06%.  The 15-year FRM has not been lower since Freddie Mac started tracking the 15-year FRM in August of 1991 and sets another record low for the fourth straight week.  

Overall, the economy does show signs of improvement. The Federal Reserve reported in its June 9th regional economic review that the economy strengthened in all 12 of its Districts over April and May. It also noted that loan quality was stable or improving in most Districts, but remained an issue for banks with large exposure to real estate.

Posted by Jim McCowan on June 11th, 2010 6:35 AMPost a Comment (0)
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