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Mortgage Rates Climb, But Still Remain Very Affordable

McLean, VA – Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 5.25 percent with an average 0.8 point for the week ending February 5, 2009, up from last week when it averaged 5.10 percent. Last year at this time, the 30-year FRM averaged 5.67 percent.

The 15-year FRM this week averaged 4.92 percent with an average 0.8 point, up from last week when it averaged 4.80 percent. A year ago at this time, the 15-year FRM averaged 5.15 percent.

Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 5.26 percent this week, with an average 0.6 point, down slightly from last week when it averaged 5.27 percent. A year ago, the 5-year ARM averaged 5.21 percent.

One-year Treasury-indexed ARMs averaged 4.92 percent this week with an average 0.5 point, up from last week when it averaged 4.90 percent. At this time last year, the 1-year ARM averaged 5.03 percent.

David J Edwards

REALTOR
Keller Williams Realty Southeast Sound
Phone: 425-890-8045
Fax: 425-902-1899
E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
Blogsite: http://www.davidjedwards.com/real-estate-blog.asp
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David J Edwards is a full time real estate agent and REALTOR with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers.

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