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 6.17 percent with an average 0.5 point for the week ending April 19, 2007, down from last week when it averaged 6.22 percent. Last year at this time, the 30-year FRM averaged 6.53 percent.

The 15-year FRM this week averaged 5.89 percent with an average 0.5 point, down slightly from last week when it averaged 5.90 percent. A year ago, the 15-year FRM averaged 6.17 percent.

Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 5.92 percent this week, with an average 0.6 point, down slightly from last week when it averaged 5.93 percent. A year ago, the 5-year ARM averaged 6.16 percent.

One-year Treasury-indexed ARMs averaged 5.45 percent this week with an average 0.7 point, also down slightly from last week when it averaged 5.47 percent. At this time last year, the 1-year ARM averaged 5.63 percent.

(Average commitment rates should be reported along with average fees and points to reflect the total cost of obtaining the mortgage.)

"Mortgage rates slipped following the latest reports of moderation in inflation rates from the core producer price and consumer price indexes," said Frank Nothaft, Freddie Mac vice president and chief economist. "Excluding food and energy, the core inflation rate for consumer prices rose 2.5 percent year-over-year, the smallest annual growth since May 2006. This helped calm markets and brought mortgage rates down.

"The low mortgage rates that have prevailed so far in 2007 may have a stabilizing effect on the housing sector. Both housing starts and new permits for March came in above expectations, but February's housing starts numbers were revised downward. Because of weather-induced fluctuations in housing statistics, we will have to see what the numbers show later in the Spring to gauge whether the March readings are indeed a signal of market turnaround."

Freddie Mac is a stockholder-owned company established by Congress in 1970 to support homeownership and rental housing. Freddie Mac fulfills its mission by purchasing residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage-related securities and debt instruments in the capital markets. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than four million renters in America.

SUMMARY OF SURVEY RESULTS

 

Fixed-Rate Mortgages
	Average Conventional 30-Year Commitment Rate	Fees & Points	Average Conventional 15-Year Commitment Rate	Fees & Points
US	6.17	0.5	5.89	0.5
Northeast	6.24	0.2	5.95	0.2
Southeast	6.12	0.6	5.84	0.7
N. Central	6.22	0.3	5.94	0.3
Southwest	6.17	0.5	5.92	0.5
West	6.12	0.7	5.85	0.8

Five/One-Year Adjustable-Rate Mortgages
	First Commitment Rate	Fees & Points	Margin
US	5.92	0.6	2.77
Northeast	5.99	0.4	2.78
Southeast	5.86	0.8	2.76
N. Central	5.97	0.4	2.76
Southwest	5.91	0.7	2.77
West	5.88	0.8	2.77

One-Year Adjustable-Rate Mortgages
	First Commitment Rate	Fees & Points	Margin
US	5.45	0.7	2.77
Northeast	5.63	0.6	2.76
Southeast	5.45	0.9	2.78
N. Central	5.40	0.4	2.75
Southwest	5.29	0.8	2.79
West	5.38	0.7	2.78

Freddie Mac defines its regions as follows:

Northeast: NY, NJ, PA, DE, MD, DC, VA, WV, PR, ME, NH, VT, MA, RI, CT, VI
Southeast: NC, SC, TN, KY, GA, AL, FL, MS
North Central: OH, IN, IL, MI, WI, MN, IA, ND, SD
Southwest: TX, LA, NM, OK, AR, MO, KS, CO, NE, WY
West: CA, AZ, NV, OR, WA, UT, ID, MT, HI, AK, GU

Freddie Mac's Primary Mortgage Market Survey (PMMS) is for informational purposes only and Freddie Mac is not responsible for business decisions made based on the reported results of the PMMS. Freddie Mac may change the methodology used to conduct the PMMS survey at any time and without notice.

DEFINITIONS

Commitment Rate is the interest rate a lender would charge to lend mortgage money to a qualified borrower exclusive of the fees and points required by the lender. This commitment rate applies only to conventional financing on conforming mortgages with loan-to-value rates of 80 percent or less.

ARM Index - is the One-year Treasury

Loan to Value Ratio (LTV) is the ratio of the loan amount of a mortgage loan to the lower of the appraisal value or purchase price of the property securing the loan.

Origination Fees and Discount Points are the total charged by the lender at settlement. One point equals one percent of the loan amount.

Margin is a fixed amount added to the underlying index to establish the fully indexed rate for an ARM.

Weighted Averages for the Primary Mortgage Market Survey have been adjusted as of October 26, 2006. The new weights use the dollar volume of conventional mortgage originations within the 1-unit Freddie Mac loan limit as reported under Home Mortgage Disclosure Act (HMDA) for 2005. The weights are listed in the table below.

Freddie Mac Region	PMMS Weights
Northeast	24.5
Southeast	18.6
North Central	15.4
Southwest	10.4
West	31.0

PRIMARY MORTGAGE MARKET SURVEY RESULTS
April 19, 2007

 

30-Year Fixed Rate Mortgages
	US	NE	SE	NC	SW	W
Average	6.17	6.24	6.12	6.22	6.17	6.12
Fees & Points	0.5	0.2	0.6	0.3	0.5	0.7

15-Year Fixed Rate Mortgages
	US	NE	SE	NC	SW	W
Average	5.89	5.95	5.84	5.94	5.92	5.85
Fees & Points	0.5	0.2	0.7	0.3	0.5	0.8

5/1-Year Adjustable Rate Mortgages
	US	NE	SE	NC	SW	W
Average	5.92	5.99	5.86	5.97	5.91	5.88
Fees & Points	0.6	0.4	0.8	0.4	0.7	0.8

1-Year Adjustable Rate Mortgages
	US	NE	SE	NC	SW	W
Average	5.45	5.63	5.45	5.40	5.29	5.38
Fees & Points	0.7	0.6	0.9	0.4	0.8	0.7

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	6.53	6.17	6.16	5.63	6.22	5.90	5.93	5.47
Fees & Points	0.6	0.5	0.8	0.9	0.4	0.4	0.5	0.5