Recent Fed Moves Did not have Big Impact on Rates

The Primary Mortgage Market SurveySM results were recently released by Freddie Mac/ The 30-year fixed-rate mortgage had an average of 6.58% for the week ending May 11, 2006. The result was down from last week's average of 6.59%.

The 15-year fixed-rate mortgage for the week was 6.17%. It is also down from last week's average of 6.22%. Last year, the 5-year fixed-rate mortgage average was 5.33%.

On the other hand, the five-year Treasury indexed hybrid adjustable-rate mortgages had an average of 6.22% for this week. The results were up from last week. Last week's average was 6.21%. Last year, the average was 5.21%.

The one-year Treasury indexed hybrid adjustable-rate mortgages had an average of 5.62%. The results were down compared to last week's average of 5.67%.

By M. Sese

Miami Real Estate