Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®) today, in which the 30-year fixed-rate mortgage (FRM) averaged 4.93 percent with an average 0.7 point for the week ending February 18, 2010, down from last week when it averaged 4.97 percent. Last year at this time, the 30-year FRM averaged 5.04 percent.

The 15-year FRM this week averaged 4.33 percent with an average 0.6 point, down from last week when it averaged 4.34 percent. A year ago at this time, the 15-year FRM averaged 4.68 percent.

The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 4.12 percent this week, with an average 0.5 point, down from last week when it averaged 4.19 percent. A year ago, the 5-year ARM averaged 5.04 percent.

The 1-year Treasury-indexed ARM averaged 4.23 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 4.80 percent.

(Average commitment rates should be reported along with average fees and points to reflect the total cost of obtaining the mortgage.)

"Mortgage rates eased for the second week, while economic data releases suggest that the housing market may be in a slow state of recovery," said Frank Nothaft, Freddie Mac vice president and chief economist.

Read more and view the survey summaries.

Posted in Mortgage, Real Estate Market Conditions, NAR, Real Estate Industry

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