Mortgage Press

Freddie Mac has released the results of its latest Primary Mortgage Market Survey (PMMS), showing average mortgage rates dropping to new all-time record lows of 3.87 percent with an average 0.8 point for the week ending Feb. 2, 2012, down from last week when it averaged 3.98 percent. Last year at this time, the 30-year fixed-rate mortgage (FRM) averaged 4.81 percent. Also this week, the 15-year FRM averaged 3.14 percent with an average 0.8 point, down from last week when it was at the 3.24 percent mark. A year ago at this time, the 15-year FRM averaged 4.08 percent.Click to continue