Tallahassee Real Estate Blog

McLean, VA – Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), which found that both fixed- and short-term mortgage rates continued to rise this week. This was the fifth week in a row where fixed-rate mortgage rates were up.

News Facts

• 30-year fixed-rate mortgage (FRM) averaged 4.83 percent with an average 0.7 point for the week ending December 16, 2010, up from last week when it averaged 4.61 percent. Last year at this time, the 30-year FRM averaged 4.94 percent.

• 15-year FRM this week averaged 4.17 percent with an average 0.7 point, up from last week when it averaged 3.96 percent. A year ago at this time, the 15-year FRM averaged 4.38 percent.

• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.77 percent this week, with an average 0.7 point, up from last week when it averaged 3.60 percent. A year ago, the 5-year ARM averaged 4.37 percent.

• 1-year Treasury-indexed ARM averaged 3.35 percent this week with an average 0.7 point, up from last week when it averaged 3.27 percent. At this time last year, the 1-year ARM averaged 4.34 percent.

Average commitment rates should be reported along with average fees and points to reflect the total cost of obtaining the mortgage.

Information was gotten from the following link:

http://www.freddiemac.com/pmms/release.html?week=50&year=2010