American Land Title Association
Home  >  News Room
News Room

SoftPro is the nation's leading provider of Real Estate Closing and Title Insurance software

North American Title Insurance Company is a seasoned title insurance underwriter that has been helping customers achieve the American dream of homeownership for more than 50 years. In the past several years, we have become known as the “underwriter next door,� because our associates are always easy to reach and our processes are, at all times, quick and straightforward. Our agency application process is fast and transparent for qualified agents. NATIC offers a one-hour underwriting response guarantee that is unparallelled in our industry. In addition, we value our agents based on their title industry knowledge and experience, not just on profits alone.

Industry News

Freddie Mac Survey Finds Little Change In Long-Term Mortgage Rates This Week

January 29, 2004

McLEAN, VA -- In Freddie Mac's Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 5.68 percent, with an average 0.7 point, for the week ending January 29, 2004, up slightly from 5.64 percent last week. Last year at this time, the 30-year FRM averaged 5.90 percent.

The average for the 15-year FRM this week is 4.97 percent, with an average 0.7 point, up very slightly from last week's average of 4.95 percent. A year ago, the 15-year FRM averaged 5.28 percent.

One-year Treasury-indexed adjustable-rate mortgages (ARMs) averaged 3.59 percent this week, with an average 0.6 point, up also very slightly from 3.56 percent last week. At this time last year, the one-year ARM averaged 3.89 percent.

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

"Mortgage rates were basically unchanged leading up to the FOMC's announcement that opened the door to the possibility the Fed would raise rates sooner than expected," said Frank Nothaft, Freddie Mac's Chief Economist. "Following the policy statement, bond yields shot up, taking mortgage rates with them., raising the prospect that mortgage rates will be even higher next week.

"However, even at higher levels next week, mortgage rates remain incredibly low and affordable and shouldn't starve off the demand for housing in 2004. The real estate market, although slowing from last year's blockbuster pace, will continue to be robust this year."
The National Mortgage Rate Snapshot
This Week One Week Ago One Year Ago
30-Yr 15-Yr 1-Yr
5.68 4.97 3.59
0.7 0.7 0.6
30-Yr 15-Yr 1-Yr
5.64 4.95 3.56
0.6 0.6 0.7

Source: Freddie Mac

Print Friendly

Copyright © 2004-2015 American Land Title Association. All rights reserved.
SecurityMetrics for PCI Compliance, QSA, IDS, Penetration Testing, Forensics, and Vulnerability Assessment
30-Yr 15-Yr 1-Yr
5.90 5.28 3.89
0.6 0.6 0.7