More Affordable Home Buying Through Low Rates

March 5, 2010
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Low Rates Help Make Home Buying More Affordable

The results of the 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 in March 4, 2010, down from last week when it averaged 5.05 percent is released. Last year at this time, the 30-year FRM averaged 5.15 percent.

The 15-year FRM for this week averaged 4.33 percent with an average 0.7 point, down from last week when it averaged 4.40 percent.

The 5-year Treasury-indexed fusion adjustable-rate mortgage (ARM) averaged 4.11 percent this week, with an average 0.6 point, down from last week when it averaged 4.16 percent. A year ago, the 5-year ARM averaged 5.08 percent.

The 1-year Treasury-indexed ARM averaged 4.27 percent this week with an average 0.6 point, upbeat from last week when it averaged 4.15 percent. At this time last year, the 1-year ARM averaged 4.86 percent.

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