Bailout

Freddie Mac: Mortgage Rates below 5% Again

By Anonymous

Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 4.97 percent with an average 0.7 point for the week ending March 4, 2010, down from last week when it averaged 5.05 percent. Last year at this time, the 30-year FRM averaged 5.15 percent.

As an aside, in a research note yesterday, Goldman Sachs argued "our analysis only points to a modest rise in mortgage rates of around 10bp when the Fed stops buying MBS in a few weeks." Further they argue the large increase (maybe 80 bps increase in spread) will not happen until the Fed announces they will be selling MBS.

Full post as published by Calculated Risk on March 04, 2010 (boomark / email).