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2005 Still On Track To Be A Record Year For Housing Sales
And Starts
Freddie Mac today released the results of its Primary
Mortgage Market Survey (PMMS) in which the 30-year
fixed-rate mortgage SEP 23, 2005 Realty Times
McLEAN, VA -- Freddie Mac (NYSE:FRE) today
released the results of its Primary Mortgage Market SurveySM
(PMMSSM) in which the 30-year fixed-rate mortgage (FRM)
averaged 5.80 percent, with an average 0.6 point, for the
week ending September 22, 2005, up from last week when it
averaged 5.74 percent. Last year at this time, the 30-year
FRM averaged 5.70 percent.
The average for the 15-year FRM this week is 5.37 percent,
with an average 0.7 point, up from last week when it
averaged 5.32 percent. A year ago, the 15-year FRM averaged
5.10 percent.
Five-year Treasury-indexed hybrid
adjustable-rate mortgages (ARMs) averaged 5.31 percent this
week, with an average 0.8 point, up from last week when it
averaged 5.26 percent. There is no annual historical
information for last year since Freddie Mac only began
tracking this mortgage rate at the start of this year.
One-year Treasury-indexed ARMs averaged 4.48
percent this week, with an average 0.7 point, up slightly
from last week when it averaged 4.46 percent. At this time
last year, the one-year ARM averaged 4.00 percent.
"Mortgage rates look like they are back on
track where the Fed wants them, which is gradually rising,"
said Frank Nothaft, vice president and chief economist at
Freddie Mac. "Freddie Mac’s economic forecast calls for a
cooling of the housing market going into next year, and
gently rising rates are part of that scenario."
"However, the resiliency of the housing sector continues to
amaze. Mortgage applications are running at a strong pace,
according to the Mortgage Bankers Association, and the most
recent housing starts figures, although coming in lower than
expected, were still at near record levels. 2005 will be
another banner year for the housing industry."
Copyright © 2005 Realty Times. All Rights Reserved. |
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Margaret Picon-Bara |
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Nat. Association of Realtors
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Realtors Association of Greater
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