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.

Most Mortgage Rates Ease For The First Time In Five Weeks

February 24, 2006

Five-Year ARM Ticks Up One Basis Point

McLean, VA – Freddie Mac (NYSE:FRE) Primary Mortgage Market SurveySM (PMMSSM) found that the 30-year fixed-rate mortgage (FRM) averaged 6.26 percent, with an average 0.6 point, for the week ending February 23, 2006, down from last week’s average of 6.28 percent. Last year at this time, the 30-year FRM averaged 5.69 percent. 

The average for the 15-year FRM this week is 5.89 percent, with an average 0.6 point, down from last week’s average of 5.91 percent. A year ago, the 15-year FRM averaged 5.22 percent.

Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 5.96 percent this week, with an average 0.6 point, up slightly from last week when it averaged 5.95 percent. A year ago, the five-year ARM averaged 5.05 percent. 

One-year Treasury-indexed ARMs averaged 5.32 percent this week, with an average 0.7 point, down from last week when it averaged 5.36 percent. At this time last year, the one-year ARM averaged 4.16 percent.

“Tame core inflation figures and market confidence that the Fed will continue to keep inflation low kept mortgage rates in check this week,” said Frank Nothaft, Freddie Mac vice president and chief economist. “Over the long term, we expect mortgage rates will bounce back and forth a bit, remaining near current levels.

“Based on applications for home purchases in November and December, we also expect that home sales will slow to a more traditional pace in January and February.”

The National Mortgage Rate Snapshop
This Week One Week Ago One Year Ago
30-Yr 15-Yr 5-Yr
1-Yr ARM
6.26 5.89 5.96 5.32
0.6 0.6 0.6 0.7
30-Yr 15-Yr 5-Yr
1-Yr ARM
6.28 5.91 5.95 5.36
0.5 0.5 0.5 0.7
30-Yr 15-Yr 5-Yr
1-Yr ARM
5.89 5.22 5.05 4.16
0.7 0.7 0.5 0.8

Source: Freddie Mac

Print Friendly

How To Find Us:
American Land Title Association
1800 M Street, NW, Suite 300S
Washington, D.C. 20036-5828
P. 202.296.3671 F. 202.223.5843
Copyright © 2004-2015 American Land Title Association. All rights reserved.
SecurityMetrics for PCI Compliance, QSA, IDS, Penetration Testing, Forensics, and Vulnerability Assessment