Freddie Mac Mortgage History Since 1971

30-Year Fixed-Rate Mortgages Since 1971

Contact: corprel@freddiemac.com
or (703) 903-3933

Monthly Average Commitment Rate And Points On 30-Year Fixed-Rate Mortgages Since 1971

	2011		2010
	Rate	Pts	Rate	Pts
January	4.76	0.8	5.03	0.7
February	4.95	0.7	4.99	0.7
March	4.84	0.7	4.97	0.7
April	4.84	0.7	5.10	0.7
May	4.64	0.7	4.89	0.7
June	4.51	0.7	4.74	0.7
July	4.55	0.7	4.56	0.7
August	4.27	0.7	4.43	0.7
September	4.11	0.7	4.35	0.7
October	4.07	0.8	4.23	0.8
November			4.30	0.8
December			4.71	0.7
Annual Average			4.69	0.7

	2009		2008		2007		2006		2005
	Rate	Pts	Rate	Pts	Rate	Pts	Rate	Pts	Rate	Pts
January	5.05	0.7	5.76	0.4	6.22	0.4	6.15	0.5	5.71	0.7
February	5.13	0.7	5.92	0.5	6.29	0.4	6.25	0.6	5.63	0.7
March	5.00	0.7	5.97	0.5	6.16	0.4	6.32	0.6	5.93	0.7
April	4.81	0.7	5.92	0.4	6.18	0.5	6.51	0.6	5.86	0.6
May	4.86	0.7	6.04	0.5	6.26	0.4	6.60	0.5	5.72	0.6
June	5.42	0.7	6.32	0.7	6.66	0.4	6.68	0.5	5.58	0.6
July	5.22	0.7	6.43	0.6	6.70	0.4	6.76	0.5	5.70	0.5
August	5.19	0.7	6.48	0.7	6.57	0.4	6.52	0.4	5.82	0.5
September	5.06	0.7	6.04	0.7	6.38	0.5	6.40	0.5	5.77	0.6
October	4.95	0.7	6.20	0.6	6.38	0.5	6.36	0.4	6.07	0.5
November	4.88	0.7	6.09	0.7	6.21	0.4	6.24	0.5	6.33	0.6
December	4.93	0.7	5.29	0.7	6.10	0.5	6.14	0.4	6.27	0.5
Annual Average	5.04	0.7	6.03	0.6	6.34	0.4	6.41	0.5	5.87	0.6

	2004		2003		2002		2001		2000
	Rate	Pts	Rate	Pts	Rate	Pts	Rate	Pts	Rate	Pts
January	5.71	0.7	5.92	0.6	7.00	0.8	7.03	0.9	8.21	1.0
February	5.64	0.7	5.84	0.6	6.89	0.7	7.05	1.0	8.33	1.0
March	5.45	0.7	5.75	0.6	7.01	0.7	6.95	0.9	8.24	1.0
April	5.83	0.7	5.81	0.6	6.99	0.7	7.08	0.9	8.15	1.0
May	6.27	0.7	5.48	0.6	6.81	0.7	7.15	1.0	8.52	1.0
June	6.29	0.6	5.23	0.6	6.65	0.6	7.16	1.0	8.29	0.9
July	6.06	0.6	5.63	0.5	6.49	0.6	7.13	0.9	8.15	0.9
August	5.87	0.7	6.26	0.7	6.29	0.6	6.95	0.9	8.03	1.0
September	5.75	0.7	6.15	0.6	6.09	0.6	6.82	0.9	7.91	1.0
October	5.72	0.7	5.95	0.6	6.11	0.6	6.62	0.9	7.80	1.0
November	5.73	0.6	5.93	0.6	6.07	0.6	6.66	0.8	7.75	0.9
December	5.75	0.6	5.88	0.7	6.05	0.6	7.07	0.8	7.38	1.0
Annual Average	5.84	0.7	5.83	0.6	6.54	0.6	6.97	0.9	8.05	1.0

	1999		1998		1997		1996		1995
	Rate	Pts	Rate	Pts	Rate	Pts	Rate	Pts	Rate	Pts
January	6.79	0.9	6.99	1.4	7.82	1.8	7.03	1.8	9.15	1.8
February	6.81	1.0	7.04	1.2	7.65	1.7	7.08	1.7	8.83	1.9
March	7.04	0.9	7.13	1.2	7.90	1.8	7.62	1.8	8.46	1.8
April	6.92	1.0	7.14	1.0	8.14	1.7	7.93	1.8	8.32	1.9
May	7.15	1.0	7.14	1.1	7.94	1.7	8.07	1.7	7.96	1.8
June	7.55	1.0	7.00	1.0	7.69	1.7	8.32	1.7	7.57	1.8
July	7.63	1.0	6.95	1.1	7.50	1.8	8.25	1.8	7.61	1.8
August	7.94	1.0	6.92	1.1	7.48	1.7	8.00	1.7	7.86	1.8
September	7.82	1.0	6.72	1.0	7.43	1.7	8.23	1.7	7.64	1.8
October	7.85	1.0	6.71	0.9	7.29	1.7	7.92	1.7	7.48	1.9
November	7.74	1.0	6.87	0.9	7.21	1.7	7.62	1.8	7.38	1.8
December	7.91	1.0	6.74	1.0	7.10	1.8	7.60	1.7	7.20	1.8
Annual Average	7.44	1.0	6.94	1.1	7.6	1.7	7.81	1.7	7.93	1.8

	1994		1993		1992		1991		1990
	Rate	Pts	Rate	Pts	Rate	Pts	Rate	Pts	Rate	Pts
January	7.07	1.7	7.99	1.6	8.43	1.8	9.64	2.1	9.90	2.1
February	7.15	1.8	7.68	1.5	8.76	1.8	9.37	2.0	10.20	2.1
March	7.68	1.7	7.50	1.6	8.94	1.9	9.50	2.1	10.27	2.1
April	8.32	1.8	7.46	1.7	8.85	1.7	9.50	2.0	10.37	2.1
May	8.60	1.8	7.47	1.8	8.67	1.7	9.47	2.0	10.48	2.0
June	8.40	1.8	7.42	1.6	8.51	1.7	9.62	2.1	10.16	2.0
July	8.61	1.8	7.21	1.6	8.13	1.6	9.58	2.0	10.04	2.0
August	8.51	1.8	7.11	1.5	7.98	1.7	9.24	1.9	10.10	2.0
September	8.64	1.8	6.91	1.5	7.92	1.7	9.01	1.9	10.18	2.1
October	8.93	1.8	6.83	1.5	8.09	1.8	8.86	1.9	10.17	2.2
November	9.17	1.8	7.16	1.6	8.31	1.9	8.71	1.8	10.01	2.1
December	9.20	1.8	7.17	1.7	8.21	1.6	8.50	1.8	9.67	1.9
Annual Average	8.38	1.8	7.31	1.6	8.39	1.7	9.25	2.0	10.13	2.1

	1989		1988		1987		1986		1985
	Rate	Pts	Rate	Pts	Rate	Pts	Rate	Pts	Rate	Pts
January	10.73	2.1	10.38	2.0	9.20	2.2	10.89	2.3	13.08	2.5
February	10.65	2.2	9.89	2.1	9.08	2.1	10.71	2.3	12.92	2.4
March	11.03	2.2	9.93	2.0	9.04	2.1	10.08	2.3	13.17	2.6
April	11.05	2.2	10.20	2.1	9.83	2.3	9.94	2.2	13.20	2.6
May	10.77	2.1	10.46	2.1	10.60	2.3	10.15	2.3	12.91	2.5
June	10.20	2.1	10.46	2.0	10.54	2.2	10.69	2.3	12.22	2.5
July	9.88	2.1	10.43	2.0	10.28	2.2	10.51	2.2	12.03	2.5
August	9.99	2.1	10.60	2.2	10.33	2.1	10.20	2.1	12.19	2.6
September	10.13	2.0	10.48	2.1	10.89	2.2	10.01	2.2	12.19	2.6
October	9.95	2.0	10.30	1.9	11.26	2.2	9.98	2.1	12.14	2.5
November	9.77	2.0	10.27	2.1	10.65	2.1	9.70	2.0	11.78	2.4
December	9.74	2.0	10.61	2.1	10.64	2.1	9.32	2.1	11.26	2.3
Annual Average	10.32	2.1	10.34	2.1	10.21	2.2	10.19	2.2	12.43	2.5

	1984		1983		1982		1981		1980
	Rate	Pts	Rate	Pts	Rate	Pts	Rate	Pts	Rate	Pts
January	13.37	2.3	13.25	2.2	17.48	2.2	14.90	2.0	12.88	1.6
February	13.23	2.4	13.04	2.0	17.60	2.2	15.13	2.0	13.04	1.6
March	13.39	2.4	12.80	2.2	17.16	2.2	15.40	2.0	15.28	2.0
April	13.65	2.4	12.78	2.1	16.89	2.3	15.58	2.0	16.32	1.9
May	13.94	2.5	12.63	2.1	16.68	2.3	16.40	2.1	14.26	1.9
June	14.42	2.5	12.87	2.1	16.70	2.2	16.70	2.1	12.71	1.8
July	14.67	2.6	13.43	2.2	16.82	2.2	16.83	2.1	12.19	1.8
August	14.47	2.6	13.81	2.2	16.27	2.3	17.28	2.1	12.56	1.7
September	14.35	2.6	13.73	2.2	15.43	2.3	18.16	2.1	13.20	1.7
October	14.13	2.6	13.54	2.1	14.61	2.2	18.45	2.3	13.79	1.7
November	13.64	2.5	13.44	2.1	13.82	2.2	17.82	2.1	14.21	1.7
December	13.18	2.5	13.42	2.2	13.62	2.2	16.95	2.1	14.79	1.7
Annual Average	13.88	2.5	13.24	2.1	16.04	2.2	16.63	2.1	13.74	1.8

	1979		1978		1977		1976		1975
	Rate	Pts	Rate	Pts	Rate	Pts	Rate	Pts	Rate	Pts
January	10.39	1.5	9.01	1.3	8.72	1.1	9.02	1.1	9.43	1.2
February	10.41	1.5	9.14	1.3	8.67	1.1	8.81	1.0	9.10	1.2
March	10.43	1.5	9.20	1.3	8.69	1.2	8.76	1.3	8.89	1.1
April	10.50	1.5	9.35	1.3	8.75	1.1	8.73	1.3	8.82	1.0
May	10.69	1.6	9.57	1.3	8.83	1.1	8.76	1.3	8.91	1.1
June	11.04	1.6	9.71	1.4	8.86	1.1	8.85	1.3	8.89	1.0
July	11.09	1.7	9.74	1.4	8.94	1.1	8.93	1.2	8.89	1.1
August	11.09	1.7	9.78	1.3	8.94	1.1	9.00	1.2	8.94	1.1
September	11.30	1.6	9.76	1.3	8.90	1.1	8.98	1.2	9.12	1.1
October	11.64	1.7	9.86	1.2	8.92	1.2	8.92	1.2	9.22	1.1
November	12.83	1.7	10.11	1.2	8.92	1.1	8.81	1.3	9.15	1.1
December	12.90	1.6	10.35	1.4	8.96	1.2	8.79	1.2	9.10	1.1
Annual Average	11.20	1.6	9.64	1.3	8.85	1.1	8.87	1.2	9.05	1.1

	1974		1973		1972		1971
	Rate	Pts	Rate	Pts	Rate	Pts	Rate	Pts
January	8.54	1.0	7.44	0.9	7.44	1.0	na	na
February	8.46	1.0	7.44	1.0	7.32	0.9	na	na
March	8.41	1.0	7.46	0.9	7.29	0.9	na	na
April	8.58	1.0	7.54	0.9	7.29	0.9	7.31	na
May	8.97	1.1	7.65	0.9	7.37	0.9	7.43	na
June	9.09	1.2	7.73	0.9	7.37	0.9	7.53	na
July	9.28	1.3	8.05	1.0	7.40	0.9	7.60	na
August	9.59	1.3	8.50	1.0	7.40	0.9	7.70	na
September	9.96	1.4	8.82	1.1	7.42	1.0	7.69	na
October	9.98	1.5	8.77	1.1	7.42	1.0	7.63	na
November	9.79	1.4	8.58	1.0	7.43	1.0	7.55	na
December	9.62	1.3	8.54	1.0	7.44	1.0	7.48	na
Annual Average	9.19	1.2	8.04	1.0	7.38	0.9	na	na

Buying A Home With Past Credit Problems

Buying a home can be both exciting and stressful but, for those with past credit problems, the process may also seem intimidating.  The good news is that many lenders have adapted to the idea that many hopeful homeowners simply need a second chance, which means that past credit problems no longer have to define your future.

Credit Blemishes

When life unexpectedly takes a turn for the worst, it's not always possible to come out without a few bumps and bruises.  Every day, people are faced with late or missed credit card payments, mortgage foreclosures, bankruptcy proceedings, auto repossessions and even civil judgments that will affect their credit reports for years to come.  Whether it's from a job loss, injury or just a simple case of temporary hardship, credit blemishes are often a part of life.  The good news is that they no longer have to prevent you from becoming a homeowner.

Give Yourself A Little Credit

After experiencing a credit problem, most lenders will want to see an attempt to rebuild your credit through a steady payment history with a new account.  This can be accomplished by applying for a credit card and maintaining a responsible use of the account.  If you aren't approved for an unsecured card, you can always apply for a secured credit card.  Either will rebuild your credit over time and will help to show lenders that your past credit problems are just that - in the past.

Clean Up Your Credit Report

Before applying for a home loan, make sure that you check your credit report from each of the three major credit reporting agencies.  Every 12 months, consumers can request a free copy of their credit report from Experian, Equifax and TransUnion.  If anything is incorrect or found to be inaccurate, filing a dispute with the credit reporting agency can help to get the information corrected before speaking with a lender.

When you apply for a home loan, the lender will access your credit report for the purpose of determining your creditworthiness.  In an effort to ensure that you have the best possible chance at being approved for the loan at the best possible interest rates, making sure that your credit report is accurate is a must.

Save Up For A Down Payment

Some homebuyers often qualify for a mortgage with down payments as low as five percent (three percent for FHA loans), but those with past credit problems may be required to shell out up to 35 percent or more for a down payment on their new home.  A buyer who pays a larger down payment obviously has more vested interest in the home and may, thereby, be less likely to default on a loan.  If you have past credit problems, check with your lender about specific down payment requirements and start saving!

Creative Financing Options

If you've exhausted all of your conventional efforts and are still turning up empty, don't give up just yet.  Alternative financing is an option that many homebuyers use to purchase a home.  Your REALTOR® can provide you with details regarding any lease purchase and/or owner financing properties, which may require no credit check, no bank qualifying, a low down payment and competitive interest rate options.

photos courtesy of http://www.fotosearch.com/photos-images/credit-issues.html

Mortgage Rates Stay In The Basement

Mortgage rates sagged this week as ongoing concerns about the European debt crisis had investors fleeing to the relative safety of mortgage-backed securities that fund most U.S. home loans.
Rates on 30-year fixed-rate mortgages averaged 4 percent with an average 0.7 point for the week ending Nov. 3, down from 4.1 percent last week, Freddie Mac said in releasing the results of its latest Primary Mortgage Market Survey.

At this time a year ago, rates on 30-year fixed-rate mortgages averaged 4.24 percent before climbing to a 2011 high of 5.05 percent in February. Rates on the "plain vanilla" fixed-rate loan hit an all-time low in records dating to 1971 of 3.94 percent during the week ending Oct. 6.
Rates on 15-year fixed-rate mortgages averaged 3.31 percent with an average 0.7 point, down from 3.38 percent last week. The 15-year fixed-rate loan averaged 3.63 percent at this time last year before climbing to a 2011 high of 4.29 percent in February.
The the 15-year loan, a popular refinancing option, hit an all-time low, in records dating to 1991, of 3.26 percent during the week ending Oct. 6.

Rates on five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans averaged 2.96 percent with an average 0.6 point, down from 3.08 percent last week.
The five-year ARM averaged 3.39 percent a year ago before hitting a 2011 high of 3.92 percent in February. Rates on five-year ARMs tied an all-time low, in records dating to 2005, of 2.96 percent -- last seen during the week ending Oct. 6.

For one-year Treasury-indexed ARM loans, rates averaged 2.88 percent with an average 0.6 point, down from an average 2.9 percent last week. At this time last year, the one-year ARM averaged 3.26 percent before climbing to a 2011 high of 3.4 percent in February.
Rates on one-year ARM loans hit a low, in records dating to 1984, of 2.81 percent during the week ending Sept. 15.

Looking back a week, a separate survey by the Mortgage Bankers Association showed a modest increase in demand for purchase mortgages.

The MBA's Weekly Mortgage Applications Survey showed requests for purchase loans were up a seasonally adjusted 1.8 percent from the previous week, ending Oct. 28. Demand for purchase loans was down 2.1 percent from a year ago, and requests to refinance accounted for 77.1 percent of all mortgage applications.
In an Oct. 17 forecast, economists at Fannie Mae said they expect rates on 30-year fixed-rate mortgage loans to average 4 percent next year and 4.2 percent in 2013.


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Update on Utah Housing Forecast for Year

Sales of previously-owned single-family homes in Salt Lake County in the third quarter reached their highest point in four years, according to the Salt Lake Board of REALTORS.

The number of single-family homes sold in Salt Lake County in the July-August-September period totaled 2,603 sales, the highest number of homes sold in a third quarter since 2007, when 2,693 homes were sold. The most recent quarter showed a 33 percent increase in home sales compared to 1,953 sales in last year’s third quarter.

At 226 single-family home sales, more people purchased single-family homes in the Kearns/Taylorsville area (ZIP code 84118) in the third quarter than any other area along the Wasatch Front. Lehi (84043) ranked No. 2 in the most single-family homes sold at 207 sales. Farr West (Weber County) ranked No. 3 with 173 sales. According to DeAnna Dipo, President of the Salt Lake Board of Realtors® home sales are expected to continue an upward trend for the rest of the year. In the first nine months of 2011 there were 7,028 single-family homes sold, a 6 percent increase compared to 6,616 sales in the January through September period last year.

The median single-family home price in Salt Lake County fell to $196,000 in the third quarter, down 15 percent compared to $230,000 in last year’s third quarter and down 23 percent from a third-quarter median high of $256,000 in 2007. We are also seeing few people listing homes for sale. New listings in the third quarter dropped 12 percent compared to listings in the third quarter of 2010. Since home prices typically follow demand, Utah is expecting homes sales to make a comeback and for prices to stop falling.

Despite an overall drop in home prices county-wide, there were six cities (ZIP codes) in Salt Lake County where home prices increased. They included: Riverton (84065) up 6 percent; West Jordan (84088) up 5 percent; Avenues (84103) up 19 percent; Sugar House (84105) up 1 percent; Emigration/Federal Heights (84108) up 2 percent; and South Salt Lake (84115) up 8 percent.

Condominium sales in Salt Lake County in the third quarter also saw a boost, up 47 percent, while condo prices fell 14 percent compared to last year’s third quarter.

In the month of September in Salt Lake County there were 970 homes and condos sold, a 31 percent increase compared to 742 home sales in September 2010. The median home price (all housing types) in September fell to $175,000, an 18 percent drop compared to $213,450 last year.

The inventory of homes for sale in Salt Lake County in September fell to 6,557 active listings, a 24 percent decline compared to 8,632 active listings in September 2010. Based on pending sales, there is a 7.2-month supply of housing inventory for sale in Salt Lake County, down 22 percent compared to a 9.2-month supply of inventory last year at this time.

Current Loan Interest Rates

Rates for 10/31/2011

30 Year Conventional  4.25% - APR 4.371%  

30 Year Jumbo  5.125% - APR 5.221% 

15 Year Conventional  3.5% - APR 3.708% 

15 Year Jumbo 4.5 % - APR 4.661%

30 Year FHA 3.75% - APR 4.479%

30 Year FHA Jumbo  3.875% - APR 4.594%

15 Year FHA 3.25% - APR 4.128%

15 Year FHA Jumbo 3.375% - APR 4.226%

5/1 Arm FHA 3.0% - APR 3.176% 

5/1 Arm Jumbo FHA 3.25% - APR 3.267%

30 Year VA 3.75% - APR 4.039%

15 Year VA 3.25% - APR Check 3.759%

30 Year Non Owner 4.5% - APR 4.554%

15 Year Non Owner 4.0% - APR 4.093%

30 Year Rural 3.75% - APR 4.523%

Utah Housing 4.25% - APR  5.014%