Mortgage Rates Ease a Bit This Week - Survey Results

The 15-year FRM this week averaged 4.40 percent with an average 0.7 point, down from last week when it averaged 4.52 percent. A year ago at this time, the 15-year FRM averaged 4.48 percent.

The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 4.08 percent this week, with an average 0.6 point, down from last week when it averaged 4.25 percent. A year ago, the 5-year ARM averaged 4.88 percent.


The 1-year Treasury-indexed ARM averaged 4.13 percent this week with an average 0.5 point, down from last week when it averaged 4.14 percent. At this time last year, the 1-year ARM averaged 4.91 percent.


"After rising for four consecutive weeks, mortgage rates eased back to where they were two weeks ago and still remain historically low," said Frank Nothaft, Freddie Mac vice president and chief economist.


"The Federal Reserve (Fed) indicated in its April 14th regional business survey that consumer prices generally remained level and producers had difficulty passing along increases in some raw materials. This will likely keep inflation at bay as evidenced by the 1.1 percent growth in core consumer prices for the 12-months ending in March 2010, which was the lowest annual increase since January 2004."


"Low mortgage rates continue to help stabilize the housing market. The Fed noted that residential activity increased while home prices were stable across most of its 12 Districts over the six weeks prior to April 5th. In addition, credit standards remained generally unchanged across the nation, while credit quality was mixed according to the report."


Summary of Survey Results

Fixed-Rate Mortgages
	Average Conventional 30-Year Commitment Rate		Fees & Points		Average Conventional 15-Year Commitment Rate		Fees & Points
US	5.07		0.6		4.40		0.7
Northeast	5.13		0.6		4.45		0.6
Southeast	5.02		0.7		4.40		0.7
N. Central	5.12		0.5		4.42		0.5
Southwest	5.00		0.6		4.38		0.7
West	5.03		0.8		4.35		0.7
Five/One-Year Adjustable-Rate Mortgages
		First Commitment Rate		Fees & Points		Margin
US		4.08		0.6		2.74
Northeast		4.25		0.6		2.73
Southeast		3.85		0.7		2.75
N. Central		4.10		0.5		2.75
Southwest		4.05		0.6		2.75
West		4.07		0.7		2.75
One-Year Adjustable-Rate Mortgages
		First Commitment Rate		Fees & Points		Margin
US		4.13		0.5		2.74
Northeast		4.04		0.4		2.71
Southeast		4.17		0.8		2.75
N. Central		4.42		0.3		2.75
Southwest		4.40		0.7		2.77
West		3.90		0.6		2.75
Freddie Mac Region		PMMS Weights
Northeast		26.0
Southeast		16.7
North Central		15.9
Southwest		13.2
West		28.2

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Primary Mortgage Market Survey Results
April 15, 2010

30-Year Fixed Rate Mortgages
		US		NE			SE		NC		SW		W
Average		5.07		5.13			5.02		5.12		5.00		5.03
Fees & Points		0.6		0.6			0.7		0.5		0.6		0.8
15-Year Fixed Rate Mortgages
		US		NE			SE		NC		SW		W
Average		4.40		4.45			4.40		4.42		4.38		4.35
Fees & Points		0.7		0.6			0.7		0.5		0.7		0.7
5/1-Year Adjustable Rate Mortgages
		US		NE			SE		NC		SW		W
Average		4.08		4.25			3.85		4.10		4.05		4.07
Fees & Points		0.6		0.6			0.7		0.5		0.6		0.7
Margin		2.74		2.73			2.75		2.75		2.75		2.75
1-Year Adjustable Rate Mortgages
		US		NE			SE		NC		SW		W
Average		4.13		4.04			4.17		4.42		4.40		3.90
Fees & Points		0.5		0.4			0.8		0.3		0.7		0.6
Margin		2.74		2.71			2.75		2.75		2.77		2.75
The National Mortgage Rate Snapshot
	One Year Ago							One Week Ago
	30-YR		15-YR		5/1-YR	1-YR ARM		30-YR		15-YR		5/1-YR	1-YR ARM
Average	4.82		4.48		4.88	4.91		5.21		4.52		4.25	4.14
Fees & Points	0.6		0.6		0.6	0.7		0.6		0.6		0.6	0.5
Margin	N/A		N/A		2.74	2.75		N/A		N/A		2.75	2.75

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Survey Source - Market Risk - Mortgage Rates Ease a Bit This Week @ RiskCenter: A Financial Risk Management Media Company