{"id":558,"date":"2010-01-08T16:43:29","date_gmt":"2010-01-08T23:43:29","guid":{"rendered":"http:\/\/www.swproperties.com\/new-mexico-news\/?p=558"},"modified":"2010-01-08T16:43:29","modified_gmt":"2010-01-08T23:43:29","slug":"mortgage-rates-start-the-new-year-slightly-lower-than-they-ended-the-old-year","status":"publish","type":"post","link":"https:\/\/www.swproperties.com\/new-mexico-news\/uncategorized\/mortgage-rates-start-the-new-year-slightly-lower-than-they-ended-the-old-year\/","title":{"rendered":"Mortgage Rates Start the New Year Slightly Lower Than They Ended the Old Year"},"content":{"rendered":"<p>McLean, VA \u00e2\u20ac\u201c Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey\u00c2\u00ae (PMMS\u00c2\u00ae) in which the 30-year fixed-rate mortgage (FRM) averaged 5.09 percent with an average 0.7 point for the week ending January 7, 2010, down from last week when it averaged 5.14 percent. Last year at this time, the 30-year FRM averaged 5.01 percent.<\/p>\n<p>The 15-year FRM this week averaged 4.50 percent with an average 0.7 point, down from last week when it averaged 4.54 percent. A year ago at this time, the 15-year FRM averaged 4.62 percent.<\/p>\n<p>The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 4.44 percent this week, with an average 0.6 point, unchanged from last week when it averaged 4.44 percent. A year ago, the 5-year ARM averaged 5.49 percent.<\/p>\n<p>The 1-year Treasury-indexed ARM averaged 4.31 percent this week with an average 0.6 point, down from last week when it averaged 4.33 percent. At this time last year, the 1-year ARM averaged 4.95 percent.<\/p>\n<p>(Average commitment rates should be reported along with average fees and points to reflect the total cost of obtaining the mortgage.)<\/p>\n<p>&#8220;Mortgage rates eased slightly this week after rising consecutively through December,&#8221; said Frank Nothaft, Freddie Mac vice president and chief economist. &#8220;Current interest rates for fixed-rate mortgages are just about at their annual average for 2009, while ARM rates are considerably below their averages for last year.<\/p>\n<p>&#8220;As the economy strengthens further and the <a href=\"http:\/\/www.federalreserve.gov\/\" target=\"_blank\">Federal Reserve (Fed)<\/a><span> <\/span> decides to raise its overnight target rate, ARM rates will follow suit because they are typically tied to shorter-term interest rates. However, the federal funds futures market does not anticipate any Fed action until the second half of 2010.&#8221;<\/p>\n<p>Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation&#8217;s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>McLean, VA \u00e2\u20ac\u201c Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey\u00c2\u00ae (PMMS\u00c2\u00ae) in which the 30-year fixed-rate mortgage (FRM) averaged 5.09 percent with an average 0.7 point for the week ending January 7, 2010, down from last week when it averaged 5.14 percent. Last year at this time, the 30-year &hellip; <a href=\"https:\/\/www.swproperties.com\/new-mexico-news\/uncategorized\/mortgage-rates-start-the-new-year-slightly-lower-than-they-ended-the-old-year\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Mortgage Rates Start the New Year Slightly Lower Than They Ended the Old Year&#8221;<\/span><\/a><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-558","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Mortgage Rates Start the New Year Slightly Lower Than They Ended the Old Year - Southwest Properties, Inc.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.swproperties.com\/new-mexico-news\/uncategorized\/mortgage-rates-start-the-new-year-slightly-lower-than-they-ended-the-old-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mortgage Rates Start the New Year Slightly Lower Than They Ended the Old Year - Southwest Properties, Inc.\" \/>\n<meta property=\"og:description\" content=\"McLean, VA \u00e2\u20ac\u201c Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey\u00c2\u00ae (PMMS\u00c2\u00ae) in which the 30-year fixed-rate mortgage (FRM) averaged 5.09 percent with an average 0.7 point for the week ending January 7, 2010, down from last week when it averaged 5.14 percent. 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