WASHINGTON (MNI) – The following is the text of the latest Freddie
Mac Primary Mortgage Market Survey released Thursday:

— Freddie Mac (OTC: FMCC) today released the results of its
Primary Mortgage Market Survey (PMMS ), showing fixed mortgage rates
dipping to new all-time record lows amid indicators of higher consumer
confidence and lower wholesale prices. The previous record low for the
30-year fixed was set the week of October 4, when it averaged 3.36
percent, and the 15-year fixed was set the week of October 18, when it
averaged 2.66 percent.

News Facts

– 30-year fixed-rate mortgage (FRM) averaged 3.34 percent with an
average 0.7 point for the week ending November 15, 2012, down from last
week when it averaged 3.40 percent. Last year at this time, the 30-year
FRM averaged 4.00 percent.

– 15-year FRM this week averaged 2.65 percent with an average 0.7
point, down from last week when it averaged 2.69 percent. A year ago at
this time, the 15-year FRM averaged 3.31 percent.

– 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM)
averaged 2.74 percent this week with an average 0.6 point, up from last
week when it averaged 2.73 percent. A year ago, the 5-year ARM averaged
2.97 percent.

– 1-year Treasury-indexed ARM averaged 2.55 percent this week with
an average 0.3 point, down from last week when it averaged 2.59 percent.
At this time last year, the 1-year ARM averaged 2.98 percent.

Average commitment rates should be reported along with average fees
and points to reflect the total upfront cost of obtaining the mortgage.
Visit the following links for Regional and National Mortgage Rate
Details and Definitions. Borrowers may still pay closing costs which are
not included in the survey.

Quotes

Attributed to Frank Nothaft, vice president and chief economist,
Freddie Mac.

“Fixed mortgage rates eased this week to record lows on indicators
of higher consumer confidence and lower wholesale prices. Consumer
sentiment rose in November to the highest reading since July 2007
according to the University of Michigan. Meanwhile, the core producer
price index fell 0.2 percent in October.”

** MNI Washington Bureau: 202-371-2121 **

[TOPICS: M$U$$$,M$$AG$,MAUDS$]