Freddie Mac's Primary Mortgage Market Survey Results
On Thursday, June 2nd, Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®). The results showed that fixed-rate mortgages declined for the seventh consecutive week to new lows. The 30-year fixed averaged at 4.55% and the 15-year averaged at 3.74%.
The following facts were outlined:
- 30-year fixed-rate mortgage (FRM) averaged 4.55% with an average 0.6 point for the week ending June 2, 2011, down from last week when it averaged 4.60%. Last year at this time, the 30-year FRM averaged 4.79%.
- 15-year FRM this week averaged 3.74% with an average 0.7 point, down from last week when it averaged 3.78%. One year ago at this time, the 15-year FRM averaged 4.20%.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.41% this week, with an average 0.6 point, the same from last week when it averaged 3.41%. One year ago, the 5-year ARM averaged 3.94%.
- 1-year Treasury-indexed ARM averaged 3.13% this week with an average 0.6 point, up from last week when it averaged 3.11%. At this time last year, the 1-year ARM averaged 3.95%.
If it's time to talk to a professional who knows, Temecula Valley Real Estate or if you have specific questions relating Real Estate in the Temecula Valley, give me a call at 951.704.6370, or email me at kristiharden1@gmail.com.
For a complete listing of Temecula homes and to view today's market trends for Temecula go to http://www.buyorsellinmenifee.com/community/area/Temecula/. Kristi Harden provides an exceptional level of real estate services to home buyers and sellers in Temecula and the entire Temecula Valley. Visit www.buyorsellinmenifee.com to search for homes in Menifee, Murrieta, Sun City, Temecula, Wildomar, Winchester and surrounding communities.
* This information was gathered from: MCLEAN, Va., June 2, 2011 /PRNewswire/Fixed Mortgage Rates Continue Downward Slide
~Kristi Harden
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