Freddie Mac's Weekly Primary Mortgage Market Survey

Today, Freddie Mac released the results of its weekly primary mortgage market survey. Each week, Freddie Mac surveys lenders across the nation to determine the average 30-year fixed-rate mortgage rate; 15-year fixed-rate mortgage rate; 5/1 hybrid ARM; and 1-year ARM. Currently, 125 lenders are surveyed each week and the mix of lender types – thrifts, commercial banks and mortgage lending companies – is roughly proportional to the level of mortgage business that each type commands nationwide. Here is a summary of the results (nationwide) found for the week of April 29th - May 5th, 2005:

• 30 year fixed rate mortgage: 5.75% (0.60 points)
• 15 year fiexd rate mortgage: 5.31% (0.60 points)
• 5/1 year adjustable rate mortgage (ARM): 5.16% (0.60 points)
• 1 year adjustable rate mortgage (ARM): 4.22% (0.70 points)

This past week, the 30-year fixed-rate mortgage (FRM) averaged 5.75 percent, with an average of 0.6 points, down from last week when it averaged 5.78 percent. Last year at this time, the 30-year FRM averaged 6.12 percent.

The average for the 15-year FRM this week is 5.31 percent, with an average of 0.6 points, down from last week when it averaged 5.33 percent. A year ago, the 15-year FRM averaged 5.47 percent.

Five-Year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 5.16 percent this week, with an average of 0.6 points, down from 5.20 last week.

One-year Treasury-indexed adjustable-rate mortgages (ARMs) averaged 4.22 percent this week, with an average of 0.7 points, up very slightly from last week when it averaged 4.21 percent. At this time last year, the one-year ARM averaged 3.76 percent.