In its Primary Mortgage Market Survey for the week ending June 18, 2009, Freddie Mac reported that the 30-year fixed-rate mortgage (FRM) averaged 5.38 percent with an average 0.7 point, down from last week when it averaged 5.59 percent. Last year at this time, the 30-year FRM averaged 6.42 percent.
The 15-year FRM this week averaged 4.89 percent with an average 0.7 point, down from last week when it averaged 5.06 percent. A year ago at this time, the 15-year FRM averaged 6.02 percent.
Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 4.97 percent this week, with an average 0.6 point, down from last week when it averaged 5.17 percent. A year ago, the 5-year ARM averaged 5.89 percent.
One-year Treasury-indexed ARMs averaged 4.95 percent this week with an average 0.6 point, down from last week when it averaged 5.04 percent. At this time last year, the 1-year ARM averaged 5.19 percent.
To read the entire Freddie Mac survey and press release, click here.
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1 comments:
It's just ridiculous that the 30 year fixed is still above 5% these days considering that the fed rates and discount rates are all at ZERO. 1 year CDs now earn about 1%, and the banks turn around and charge people over 5% for their mortgages, that's like highway robbery !!!!!!
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