Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®). While the 30-year fixed-rate mortgage rate rose, the 15-year fixed-rate dipped slightly; shorter-term rates fell.
30-year fixed-rate mortgage (FRM) averaged 4.37 percent with an average 0.7 point for the week ending September 16, 2010, up from last week when it averaged 4.35 percent. Last year at this time, the 30-year FRM averaged 5.04 percent.
15-year FRM this week averaged a record low of 3.82 percent with an average 0.6 point, down slightly from last week when it averaged 3.83 percent. A year ago at this time, the 15-year FRM averaged 4.47 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.55 percent this week, with an average 0.6 point, down slightly from last week when it averaged 3.56 percent. A year ago, the 5-year ARM averaged 4.51 percent.
1-year Treasury-indexed ARM averaged 3.40 percent this week with an average 0.7 point, down from last week when it averaged 3.46 percent. At this time last year, the 1-year ARM averaged 4.58 percent.