Freddie Mac's Weekly Primary Mortgage Market Survey

Here are the results of Freddie Mac's most recent, weekly primary mortgage market survey for the week of May 20th - May 26th, 2005:

• 30 year fixed rate mortgage: 5.65% (0.60 points)
• 15 year fiexd rate mortgage: 5.21% (0.60 points)
• 5/1 year adjustable rate mortgage (ARM): 5.07% (0.70 points)
• 1 year adjustable rate mortgage (ARM): 4.21% (0.70 points)

At this time last year, the 30-year fixed-rate mortgage (FRM) averaged 6.32 percent, with an average of 0.6 points.

The average for the 15-year FRM this week is 5.21 percent, with an average 0.6 point, also down from last week when it averaged 5.27 percent. A year ago, the 15-year FRM averaged 5.69 percent.

Five-Year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 5.07 percent this week, with an average 0.7 point, unchanged from last week. There is no annual historical information for last year since Freddie Mac only began tracking this mortgage rate at the start of this year.

One-year Treasury-indexed adjustable-rate mortgages (ARMs) averaged 4.21 percent this week, with an average 0.7 point, down from last week when it averaged 4.26 percent. At this time last year, the one-year ARM averaged 3.87 percent.

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.