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 5.48 percent with an average 0.4 point for the week ending January 24, 2008, down from last week when it averaged 5.69 percent as well. Last year at this time, the 30-year FRM averaged 6.25 percent. The 30-year FRM has not been lower since the week ending March 25, 2004 when it averaged 5.40 percent.
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The 15-year FRM this week averaged 4.95 percent with an average 0.4 point, down from last week when it averaged 5.21 percent. A year ago at this time, the 15-year FRM averaged 5.98 percent. The 15-year FRM has not been lower since the week ending April 1, when it averaged 4.84 percent.
Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 5.13 percent this week, with an average 0.4 point, down from last week when it averaged 5.40 percent. A year ago, the 5-year ARM averaged 6.00 percent. The 5-year ARM has not been lower since June 30, 2005, when it averaged 5.06 percent.
One-year Treasury-indexed ARMs averaged 4.99 percent this week with an average 0.6 point, down from last week when it was 5.26 percent. At this time last year, the 1-year ARM averaged 5.49 percent. The 1-year ARM has not been lower since October 27, 2005, when it averaged 4.91 percent.
"Economic news released last week confirmed the weak condition of the housing market. Housing starts fell further in December to 1.006 million units, the slowest pace since May 1991," said Frank Nothaft, Freddie Mac vice president and chief economist. "For the year as a whole, housing starts dropped nearly 25 percent, from 2006’s level. This was the largest annual decline since 1980. New permits issued also fell to the lowest level since March 1993.
Chủ Nhật, 27 tháng 1, 2008
Hot Market: San Antonio Job Growth Pushes Prices, Rents Upward
Price of houses and rents in the San Antonio, Texas, area continue to move upward even while sales volume has pulled back in the in the region.
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Whether you're a renter or a buyer, you'll pay more for your house this time of year than you did last year. That's according to stats from the San Antonio Chamber of Commerce.
The city added more than 15-thousand jobs in the last 12 months, taking its unemployment rate to about 4 percent for September 2007 -- near it's all time low of 3.5 percent just a few months earlier.
On the housing front, except for a dip in the third quarter of 2006, prices have continued to increase steadily since 2004.
In that year, the average price of a single-family home was about $123,000. Now, it stands at nearly $155,000 -- 26 percent more than just three years ago. Housing prices have increased by nearly 6 percent in the last 12 months for San Antonians.
The city stands to benefit from the Texas economy as a whole, according to Bernard Weinstein, a University of North Texas economist -- who is Quoted in the Dallas Morning News, saying: "From an economic perspective, the best place to be in the United States in 2008 is Texas."
by M. Anthony Carr
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Whether you're a renter or a buyer, you'll pay more for your house this time of year than you did last year. That's according to stats from the San Antonio Chamber of Commerce.
The city added more than 15-thousand jobs in the last 12 months, taking its unemployment rate to about 4 percent for September 2007 -- near it's all time low of 3.5 percent just a few months earlier.
On the housing front, except for a dip in the third quarter of 2006, prices have continued to increase steadily since 2004.
In that year, the average price of a single-family home was about $123,000. Now, it stands at nearly $155,000 -- 26 percent more than just three years ago. Housing prices have increased by nearly 6 percent in the last 12 months for San Antonians.
The city stands to benefit from the Texas economy as a whole, according to Bernard Weinstein, a University of North Texas economist -- who is Quoted in the Dallas Morning News, saying: "From an economic perspective, the best place to be in the United States in 2008 is Texas."
by M. Anthony Carr
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