Signs That Inflation May Be Less of a Threat to the Economy Help Push Mortgage Rates Lower

McLean, VA – On Friday Freddie Mac (NYSE:FRE) released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 6.24 percent with an average 0.5 point for the week ending November 16, 2006, down from last week when it averaged 6.33 percent. Last year at this time, the 30-year FRM averaged 6.37 percent. The 15-year FRM this week averaged 5.94 percent with an average 0.5 point, down from last week when it averaged 6.04 percent. A year ago, the 15-year FRM averaged 5.90 percent. Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 6.04 percent this week, with an average 0.5 point, down from last week when it averaged 6.08 percent. A year ago, the five-year ARM averaged 5.86 percent. One-year Treasury-indexed ARMs averaged 5.53 percent this week with an average 0.5 point, down from last week when it averaged 5.55 percent. At this time last year, the one-year ARM averaged 5.20 percent.

This report was provided by the Washington Association of Realtors.