Record-Setting Low Fixed Mortgage Rates Persist

By
Real Estate Agent with Halo Group Realty 0503510
Freddie Mac released the results of its Primary Mortgage Market Survey®, showing average fixed mortgage rates falling to new all-time record lows for the sixth consecutive week amid weak economic and job data helping to keep homebuyer affordability high.

 

  • 30-year fixed-rate mortgage (FRM) averaged 3.67 percent with an average 0.7 point for the week ending June 7, 2012, down from last week when it averaged 3.75 percent. Last year at this time, the 30-year FRM averaged 4.49 percent. 

     

  • 15-year FRM this week averaged 2.94 percent with an average 0.7 point, down from last week when it averaged 2.97 percent. A year ago at this time, the 15-year FRM averaged 3.68 percent. 

     

  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.84 percent this week, with an average 0.7 point, the same as last week. A year ago, the 5-year ARM averaged 3.28 percent.

     

  • 1-year Treasury-indexed ARM averaged 2.79 percent this week with an average 0.4 point, up from last week when it averaged 2.75 percent. At this time last year, the 1-year ARM averaged 2.95 percent.  

    Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.

    "Fixed mortgage rates reached new record lows for the sixth consecutive week as long-term Treasury bond yields declined further following downwardly revised economic growth and job creation data. Gross domestic product rose 1.9 percent in the first quarter, after originally being reported as 2.2 percent, led by gains in inventories, more government cutbacks and the slowest increase in corporate profits in over three years. In addition, the economy added 69,000 jobs in May, less than half of the market consensus forecast and revisions subtracted a total of 49,000 workers in March and April. Lastly, the unemployment rate ticked up from 8.1 percent in April to 8.2 percent."

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    Addison $150-250K        Addison $250-500K        Addison $500K+ 

    Allen $150K-250K        Allen $250K-500K        Allen $500K-1000K        Allen $1000K+   

    Anna $150-250K        Anna $250-500K        Anna $500K+

    Aubrey $150-250K        Aubrey $250-500K        Aubrey $500K+

    Carrollton $150-250K        Carrollton $250-500K        Carrollton $500K+

    Celina $150-250K        Celina $250-500K          Celina $500K+

    Cross Roads $150-250K        Cross Roads $250-500K        Cross Roads $500K+

    Dallas $150-250K        Dallas $250-500K        Dallas $500K-$1000K        Dallas $1000K+

    Fairview $150-250K        Fairview $250-500K         Fairview $500K-$1000K         Fairview $1000K+

    Fate $150-250K         Fate $250K+

    Frisco $150-250K         Frisco $250-500K         Frisco $500K-$1000K        Frisco $1000K+

    Highland Park $250-500K         Highland Park $500K-$1000K         Highland Park $1000K+

    Lakewood Village $150-250K         Lakewood Village $250-500K            Lakewood Village $500K+

    Lavon $150-250K         Lavon $250-500K         Lavon $500K+  

    Lewisville $150-250K         Lewisville $250-500K         Lewisville $500K-$1000K         Lewisville $1000K+

    Lucas $150-250K         Lucas $250-500K         Lucas $500-1000K         Lucas $1000K+

    Little Elm $150-250K         Little Elm $250-500K         Little Elm $500K+

    McKinney $150-250K        McKinney $250-500K         McKinney $500K-$1000K         McKinney $1000K+

    Melissa $150-250K         Melissa $250-500K         Melissa $500K+

    Oak Point $150-250K         Oak Point $250-500K         Oak Point $500K+

    Parker $250-500K         Parker $500K-$1000K         Parker $1000K+

    Plano $150-250K         Plano $250-500K         Plano $500K-$1000K         Plano $1000K+

    Princeton $150-250K         Princeton $250K+

    Prosper $150-250K         Prosper $250-500K         Prosper $500K-$1000K         Prosper $1000K+

    Providence Village $150K+

    Richardson $150-250K         Richardson $250-500K         Richardson $500K-1000K         Richardson $1000K+

    Rockwall $150-250K         Rockwall $250-500K        Rockwall $500K+

    Rowlett $150-250K         Rowlett $250-500K         Rowlett $500K+

    Royse City $150-250K        Royse City $250K+

    Sachse $150-250K         Sachse $250-500K         Sachse $500K+

    Savannah $150-250K         Savannah $250K+

    University Park $250-500K         University Park $500K-$1000K         University Park $1000K+

    Wylie $150-250K         Wylie $250-500K         Wylie $500K+

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