Slower Housing Market Helps To Keep Mortgage Rates Lower

McLean, VA – Results of Freddie Mac Primary Mortgage Market Survey® (PMMSSM) found that the averaged 6.40 percent with an average 0.5 point for the week ending September 21, 2006, down from last week when it averaged 6.43 percent. Last year at this time, the 30-year FRM averaged 5.80 percent.

The 15-year FRM this week averaged 6.06 percent with an average 0.5 point, down from last week when it averaged 6.11 percent. A year ago, the 15-year FRM averaged 5.37 percent.

Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 6.08 percent this week, with an average 0.5 point, down from last week when it averaged 6.10 percent. A year ago, the five-year ARM averaged 5.31 percent.

Source: Freddie Mac