MORTGAGE RATES HIT NEW LOW …………….
Freddie Mac yesterday released the results of its Primary Mortgage Market Survey, showing average mortgage rates easing amid worsening economic indicators. THIRTY- YEAR FIXED rate mortgages averaged 3.66% with an average of 0.7 point for the week ending 6/21/2012 or down from 4.5 % a year ago. FIFTEEN- YEAR FIXED rate mortgages averaged 2.95% with an average 0.6 point or down from 3.69% a year ago. Five-year Treasury-indexed hybrid ARMs or adjustable rate mortgages averaged 2.77% this week with an average 0.6 point or down from 3.25% a year ago. One-year Treasury-indexed ARMS averaged 2.74% this week with an average of 0.5 point & down from 2.99% a year ago.