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

Freddie Mac (OTC: FMCC) today released the results of its Primary
Mortgage Market Survey (PMMS), showing average mortgage rates climbing
as the housing market ended 2011 on a high note. The 30-year fixed-rate
mortgage averaged 3.98 percent reversing its previous three-week trend
of setting all-time record lows. Despite the jump, this marks the eighth
consecutive week the 30-year fixed has remained below 4.00 percent.

News Facts

– 30-year fixed-rate mortgage (FRM) averaged 3.98 percent with an
average 0.7 point for the week ending January 26, 2012, up from last
week when it averaged 3.88 percent. Last year at this time, the 30-year
FRM averaged 4.80 percent.

– 15-year FRM this week averaged 3.24 percent with an average 0.8
point, up from last week when it averaged 3.17 percent. A year ago at
this time, the 15-year FRM averaged 4.09 percent.

– 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM)
averaged 2.85 percent this week, with an average 0.7 point, up from last
week when it averaged 2.82 percent. A year ago, the 5-year ARM averaged
3.70 percent.

– 1-year Treasury-indexed ARM averaged 2.74 percent this week with
an average 0.6 point, matching last week when it averaged 2.74 percent.
At this time last year, the 1-year ARM averaged 3.26 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 ticked up this week as the housing market
ended 2011 on a high note. New construction of one-family homes rose
4.4 percent in December to an annualized rate of 470,000, the most since
April 2010. Existing home sales increased 5.0 percent at the end of the
year to 4.61 million houses, the largest amount since May 2010.
Furthermore, pending home sales in November and December averaged the
highest reading since the March and April 2010 period.”

** Market News International Washington Bureau: 202-371-2121 **

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