News Release Issued: July 7, 2011 10:00 AM EDT

30-Year Fixed-Rate Mortgage Rises to 4.60 Percent

MCLEAN, Va., July 7, 2011 /PRNewswire/ -- Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®). After changing little over the past month, both long- and short-term mortgage rates followed Treasury yields higher this week. The 30-year fixed averaged 4.60 percent, and the 15-year fixed averaged 3.75 percent.

News Facts

• 30-year fixed-rate mortgage (FRM) averaged 4.60 percent with an average 0.7 point for the week ending July 7, 2011, up from last week when it averaged 4.51 percent. Last year at this time, the 30-year FRM averaged 4.57 percent.  
• 15-year FRM this week averaged 3.75 percent with an average 0.7 point, up from last week when it averaged 3.69 percent. A year ago at this time, the 15-year FRM averaged 4.07 percent.  
• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.30 percent this week, with an average 0.6 point, up from last week when it averaged 3.22 percent. A year ago, the 5-year ARM averaged 3.75 percent.
• 1-year Treasury-indexed ARM averaged 3.01 percent this week with an average 0.6 point, up from last week when it averaged 2.97 percent. At this time last year, the 1-year ARM averaged 3.75 percent.  

In stocks, S&P futures are -4.25 (-0.32%) at 1329.75 and Dow futures are -36 points (-0.29%) to 12,520.

Oil is -0.87% at $98.78 and gold is +0.03% at $1,494.10.

News Release Issued: May 5, 2011 10:00 AM EDT

30-year Fixed-Rate Mortgage Matches Yearly Low of 4.71 Percent

MCLEAN, Va., May 5, 2011 /PRNewswire/ -- Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS^®), which shows mortgage rates drifting lower with the 30-year fixed-rate mortgage matching the yearly low of 4.71 percent, and the 15-year fixed hitting a new yearly low of 3.89 percent.

News Facts

• 30-year fixed-rate mortgage (FRM) averaged 4.71 percent with an average 0.7 point for the week ending May 5, 2011, down from last week when it averaged 4.78 percent. Last year at this time, the 30-year FRM averaged 5.00 percent.  

• 15-year FRM this week averaged 3.89 percent with an average 0.7 point, down from last week when it averaged 3.97 percent. A year ago at this time, the 15-year FRM averaged 4.36 percent.  

• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.47 percent this week, with an average 0.6 point, down from last week when it averaged 3.51 percent. A year ago, the 5-year ARM averaged 3.97 percent.

• 1-year Treasury-indexed ARM averaged 3.14 percent this week with an average 0.5 point, down from last week when it averaged 3.15 percent. At this time last year, the 1-year ARM averaged 4.07 percent.  

Average commitment rates should be reported along with average fees and points to reflect the total cost of obtaining the mortgage. Visit the following links for Regional and National Mortgage Rate Details and Definitions.

Quotes

Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.

• "Weaker economic data reports reduced Treasury bond yields and allowed mortgage rates to drift lower for the third consecutive week. For instance, real economic growth in the first quarter fell short of the market consensus forecast and represented the slowest pace since the second quarter of 2010. In addition, both the manufacturing and service sectors exhibited growth at a slower rate in April.

• "Data reports on the housing market, on the other hand, were a little more uplifting. The National Association of Realtors^® reported pending home sales rose in March for the second month in a row to the highest index reading since November 2010. Also, the Federal Reserve reported credit standards among commercial banks for prime mortgages were unchanged on net in the second quarter of the year, following two quarters of tightening."

May 3 (Reuters) - For U.S. bond funds, the long and short of it have been the whole story this year. Quite literally, money has flowed into the two extremes -- short duration or long-term bonds -- and steered clear of the middle, the latest data from Thomson Reuters Lipper shows. During the first quarter, investors have pulled funds from bonds with maturities of three-to-ten years. If investors shun the category, the so-called intermediate-range bonds should begin to command higher yields to restore their fan base. But some factors are working against the intermediate-sector that might continue to limit their appeal.

News Release Issued: April 21, 2011 10:00 AM EDT

30-Year Fixed-Rate Mortgage Drops to 4.80 Percent

MCLEAN, Va., April, 21 2011 /PRNewswire/ -- Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), which shows mortgage rates dropping after four consecutive weeks of inching higher.  

News Facts

• 30-year fixed-rate mortgage (FRM) averaged 4.80 percent with an average 0.7 point for the week ending April 21, 2011, down from last week when it averaged 4.91 percent. Last year at this time, the 30-year FRM averaged 5.07 percent.  

• 15-year FRM this week averaged 4.02 percent with an average 0.7 point, down from last week when it averaged 4.13 percent. A year ago at this time, the 15-year FRM averaged 4.39 percent.  

• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.61 percent this week, with an average 0.6 point, down from last week when it averaged 3.78 percent. A year ago, the 5-year ARM averaged 4.03 percent.

• 1-year Treasury-indexed ARM averaged 3.16 percent this week with an average 0.6 point, down from last week when it averaged 3.25 percent. At this time last year, the 1-year ARM averaged 4.22 percent.  

Average commitment rates should be reported along with average fees and points to reflect the total cost of obtaining the mortgage. Visit the following links for the Regional and National Mortgage Rate Details and Definitions.

Quotes

Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.

• "Low inflation is keeping mortgage rates at bay. The core consumer price index rose just 0.1 percent in March, below the market consensus forecast. The 12-month growth rate in core prices was 1.2 percent, which is also rather low by historical standards.

• "The housing market continues to struggle. Although housing starts and existing home sales in March were stronger than the market consensus, they were still at low levels. Moreover, homebuilders became more pessimistic in April about the near-term according to the NAHB/Wells Fargo Housing Market Index."

Treasury yields drifted progressively higher in active overnight trading. The benchmark 10-year note is currently -4/32 at 101-29 yielding 3.391% (+1.1bps) and the FNCL 4.5 is -2/32 at 102-03 yielding 4.139% according to MND's MBS yield model. 

News Release Issued: April 14, 2011 10:00 AM EDT

30-Year Fixed-Rate Mortgage Moves Up to 4.91 Percent

MCLEAN, Va., April 14, 2011 /PRNewswire/ -- Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), which shows mortgage rates slowly increasing for the fourth consecutive week, yet remaining below 5 percent moving into the traditional home buying season.

News Facts

• 30-year fixed-rate mortgage (FRM) averaged 4.91 percent with an average 0.6 point for the week ending April 14, 2011, up from last week when it averaged 4.87 percent. Last year at this time, the 30-year FRM averaged 5.07 percent.  

• 15-year FRM this week averaged 4.13 percent with an average 0.7 point, up from last week when it averaged 4.10 percent. A year ago at this time, the 15-year FRM averaged 4.40 percent.  

• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.78 percent this week, with an average 0.6 point, up from last week when it averaged 3.72 percent. A year ago, the 5-year ARM averaged 4.08 percent.

• year Treasury-indexed ARM averaged 3.25 percent this week with an average 0.6 point, up from last week when it averaged 3.22 percent. At this time last year, the 1-year ARM averaged 4.13 percent.  

Average commitment rates should be reported along with average fees and points to reflect the total cost of obtaining the mortgage. Visit the following links for Regional and National Mortgage Rate Details and Definitions.

Quotes

Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.

• "Mortgage rates edged up following a light week of economic data releases. Although rates on 30-year fixed mortgages have risen four weeks in a row, they have remained below 5 percent for eight straight weeks now, helping to maintain affordability in the housing market. Meanwhile, consumer purchases of retail goods rose for the ninth consecutive month in March, suggesting families have an increasing capacity to spend, which bodes well for the economic recovery.

• "Reinforcing this notion, the Federal Reserve reported in its April 13th regional economic review that consumer spending picked up modestly in February and March across most Districts. In addition, it noted that economic activity generally continued to improve and that reports focusing on the near-term outlook were most often upbeat."

News Release Issued: April 13, 2011 11:27 AM EDT

April 2011 U.S. Economic and Housing Market Outlook

Spring in the Market

MCLEAN, Va., April 13, 2011 /PRNewswire/ -- Freddie Mac (OTC: FMCC) released today its U.S. Economic and Housing Market Outlook for April showing signs of a pick up in home sales beginning this spring driven by the recent encouraging employment reports, low mortgage rates and continued high homebuyer affordability.

Outlook Highlights

• Unemployment declined for the fourth straight month to 8.8 percent, and net employment increased by 216,000 jobs.
• A projected 5 percent increase in 2011 home sales over 2010, on a calendar year basis.
• Despite weak and inconsistent monthly job gains for the real estate sector, real estate employment was up by 10,000 jobs since last November.
• Refinancing is likely to account for a much smaller share of loan applications later this year as borrowers who are "in-the-money" decrease and mortgage rates begin inching up.
• The share of adjustable-rate mortgages loans is projected to be 7 percent in 2011, compared to the 5 percent 2010 average in part because the level of fixed-rate mortgages rates are expected to rise relative to short-term interest rates.

Click here to view the complete April 2011 U.S. Economic and Housing Market Outlook. Freddie Mac compiles data on major economic and housing and mortgage market indicators and offers forecasts based on those indicators.

Quotes

Attributed to Frank Nothaft, Freddie Mac, vice president and chief economist.

• "Expect to see a bit of spring in homes sales activity during the second quarter. Sales contract signings for existing homes were up in February, positioning the market for a bounce up going into the traditional homebuying season."

News Release Issued: April 7, 2011 10:00 AM EDT

Mortgage Rates Change Little Amid Positive Employment Report

MCLEAN, Va., April 7, 2011 /PRNewswire/ -- Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), which shows the 30-year fixed-rate inching upward for the third consecutive week to 4.87 percent but well below its average of 5.21 percent a year ago, the highest it had been since August 13, 2009.

News Facts

• 30-year fixed-rate mortgage (FRM) averaged 4.87 percent with an average 0.7 point for the week ending April 7, 2011, up from last week when it averaged 4.86 percent. Last year at this time, the 30-year FRM averaged 5.21 percent.  

• 15-year FRM this week averaged 4.10 percent with an average 0.7 point, up from last week when it averaged 4.09 percent. A year ago at this time, the 15-year FRM averaged 4.52 percent.  

• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.72 percent this week, with an average 0.6 point, up from last week when it averaged 3.70 percent. A year ago, the 5-year ARM averaged 4.25 percent.

• 1-year Treasury-indexed ARM averaged 3.22 percent this week with an average 0.7 point, down from last week when it averaged 3.26 percent. At this time last year, the 1-year ARM averaged 4.14 percent.  

Average commitment rates should be reported along with average fees and points to reflect the total cost of obtaining the mortgage. Visit the following links for Regional and National Mortgage Rate Details and Definitions.

Quotes

Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.

• "Mortgage rates were little changed after an encouraging employment report from the Bureau of Labor Statistics. The economy added 216,000 jobs in March and the unemployment rate fell for the fifth consecutive month to 8.8 percent marking the lowest rate in two years. Additionally, the private sector has gained 560,000 workers in the first quarter of this year, which represents the largest quarterly increase since the first quarter of 2006."

Treasuries weakened across the yield curve Tuesday as bond investors expressed their nervous sentiments over a few increasingly vocal inflation hawks on the FOMC board.

 30 year fixed hovering in the low 5's.

30-Year Fixed-Rate Mortgage Up Slightly for Second Week

McLEAN, Va., March 31, 2011 /PRNewswire/ -- Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), which shows interest rates increasing slightly with the 30-year fixed sitting at 4.86 percent, up five basis points from the previous week.

News Facts

• 30-year fixed-rate mortgage (FRM) averaged 4.86 percent with an average 0.7 point for the week ending March 31, 2011, up from last week when it averaged 4.81 percent. Last year at this time, the 30-year FRM averaged 5.08 percent.  

• 15-year FRM this week averaged 4.09 percent with an average 0.7 point, up from last week when it averaged 4.04 percent. A year ago at this time, the 15-year FRM averaged 4.39 percent.  

• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.70 percent this week, with an average 0.7 point, up from last week when it averaged 3.62 percent. A year ago, the 5-year ARM averaged 4.10 percent.

• 1-year Treasury-indexed ARM averaged 3.26 percent this week with an average 0.6 point, up from last week when it averaged 3.21 percent. At this time last year, the 1-year ARM averaged 4.05 percent.  

Average commitment rates should be reported along with average fees and points to reflect the total cost of obtaining the mortgage. Visit the following links for Regional and National Mortgage Rate Details and Definitions.

Quotes

Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.

• "Fixed mortgage rates rose slightly for a second week in a row, but continue to remain quite low.  Low rates have benefited from relatively benign inflation reports. Inflation as measured by the 12-month growth in the core price index for consumer spending, a metric preferred by the Federal Reserve, is hovering near the lowest pace since 1960 when this data series began.

• "Sales of distressed properties continue to place downward pressure on house prices. In January, these homes accounted for 37 percent of existing home sales and rose to 39 percent in February, based on figures from the National Association of Realtors®. House prices were down 3.1 percent in January from the same month last year according to the S&P/Case-Shiller® Home Price Indices."