Mortgage Press

Freddie Mac has 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 (FRM) averaged 3.98 percent, with an average 0.7 point for the week ending Jan. 26, 2012. This sudden rise in rates is a reversal of the previous three-week trend of setting all-time record lows. However, at 3.98 percent, the eight-week streak continues of rates coming in below the four percent mark. Last year at this time, the 30-year FRM averaged 4.80 percent.Click to continue