News Release Issued: June 28, 2012 10:00 AM EDT
MCLEAN, Va., June 28, 2012 /PRNewswire/ â€“Â Freddie MacÂ (OTC: FMCC) today released the results of itsÂ Primary Mortgage Market SurveyÂ®Â (PMMSÂ®), showing average fixed mortgage rates largely unchanged helping to keep homebuyer affordability high for those in the market to purchase or looking to refinance. Both the 30-year fixed and 15-year fixed rate mortgages matched their all-time record lows.
Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following links forÂ Regional and National Mortgage Rate DetailsÂ andÂ Definitions. Borrowers may still pay closing costs which are not included in the survey.
Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.
â€œMortgage rates were virtually unchanged this week hovering at or near record lows and should further help to support a recovering housing market. Both theÂ S&P/Case ShillerÂ®Â 20-city composite and theÂ Federal Housing Finance Agencyâ€™sÂ house price indexes showed over a 0.5 percent monthly increase in April. Meanwhile,Â pending existing homeÂ sales rebounded in May by 5.9 percent to match a two year high andÂ new home salesÂ jumped 7.6 percent to its fastest pace since April 2010.â€
Get the latest information from Freddie Macâ€™s Office of the Chief Economist on Twitter:@FreddieMac
Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nationâ€™s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four homebuyers and is one of the largest sources of financing for multifamily housing.Â www.FreddieMac.com.
SOURCE Freddie Ma