Positive Economic News Pushes Mortgage Rates Higher

McLean, VA – Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 6.34 percent with an average 0.4 point for the week ending February 1, 2007, up from last week when it averaged 6.25 percent. Last year at this time, the 30-year FRM averaged 6.23 percent. The 30-year FRM has not been higher since the week ending October 26, 2006, when it was 6.40 percent. The 15-year FRM this week averaged 6.06 percent with an average 0.4 point, up from last week when it averaged 5.98 percent. A year ago, the 15-year FRM averaged 5.81 percent. The 15-year FRM has not been higher since the week ending October 26, 2006 when it averaged 6.10 percent. Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 6.04 percent this week, with an average 0.6 point, up from last week when it averaged 6.00 percent. A year ago, the 5-year ARM averaged 5.87 percent. One-year Treasury-indexed ARMs averaged 5.54 percent this week with an average 0.7 point, up from last week when it averaged 5.49 percent. At this time last year, the 1-year ARM averaged 5.33 percent. The 1-year ARM has not been higher since November 9, 2006, when it averaged 5.55 percent.