Fixed-Rate Mortgages Continue To Find New Record Lows

Press Release Source: Freddie Mac On Thursday September 15, 2011, 10:00 am EDT

MCLEAN, Va., Sept. 15, 2011 /PRNewswire/ -- Freddie Mac (OTC:FMCC.ob - News) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing fixed-rate mortgages remaining near their 60-year lows as ongoing investor concerns over the European debt market kept Treasury bond yields low. The 30-year fixed averaged 4.09 percent, a new all-time low. The 15-year fixed, a popular refinancing option, also reached a new record low for the week averaging 3.30 percent.

News Facts

30-year fixed-rate mortgage (FRM) averaged 4.09 percent with an average 0.7 point for the week ending September 15, 2011, down from last week when it averaged 4.12 percent. Last year at this time, the 30-year FRM averaged 4.37 percent.

15-year FRM this week averaged 3.30 percent with an average 0.6 point, down from last week when it averaged 3.33 percent. A year ago at this time, the 15-year FRM averaged 3.82 percent.

5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.99 percent this week, with an average 0.6 point, up from last week when it averaged 2.96 percent. A year ago, the 5-year ARM averaged 3.55 percent.

1-year Treasury-indexed ARM averaged 2.81 percent this week with an average 0.6 point, down from last week when it averaged 2.84 percent. At this time last year, the 1-year ARM averaged 3.40 percent.