WASHINGTON — Freddie Mac yesterday released the results of its Primary Mortgage Market Survey in which the 30-year fixed-rate mortgage averaged 6.10% with an average 0.6 point for the week ending October 2, 2008, up from last week when it averaged 6.09%. Last year at this time, the 30-year FRM averaged 6.37%.
The 15-year FRM this week averaged 5.78% with an average 0.6 point, up from last week when it averaged 5.77%. A year ago at this time, the 15-year FRM averaged 6.03%.
Five-year Treasury-indexed hybrid adjustable-rate mortgages averaged 6% this week, with an average 0.6 point, down from last week when it averaged 6.02%. A year ago, the five-year ARM averaged 6.11%.
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One-year Treasury-indexed ARMs averaged 5.12% this week with an average 0.5 point, down from last week when it averaged 5.16%. At this time last year, the one-year ARM averaged 5.58%.
Two-thirds of Bankrate.com's mortgage panelists said this week that they believe mortgage rates will fall over the next 35 to 45 days.
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