 |
 |
 |
For Immediate Release
January 06, 2005
SUMMARY OF SURVEY RESULTS
Freddie Mac defines its regions as follows: Northeast: NY, NJ, PA, DE, MD, DC, VA, WV, PR, ME, NH, VT, MA, RI,
CT, VI Freddie Mac's Primary Mortgage Market Survey (PMMS) is for informational purposes only and Freddie Mac is not responsible for business decisions made based on the reported results of the PMMS. Freddie Mac may change the methodology used to conduct the PMMS survey at any time and without notice. DEFINITIONS Commitment Rate is the interest rate a lender would charge to lend mortgage money to a qualified borrower exclusive of the fees and points required by the lender. This commitment rate applies only to conventional financing on conforming mortgages with loan-to-value rates of 80 percent or less. ARM Index - is the One-year Treasury Loan to Value Ratio (LTV) is the ratio of the loan amount of a mortgage loan to the lower of the appraisal value or purchase price of the property securing the loan. Origination Fees and Discount Points are the total charged by the lender at settlement. One point equals one percent of the loan amount. Margin is a fixed amount added to the underlying index to establish the fully indexed rate for an ARM. Weighted Averages for the Primary Mortgage Market Survey have been adjusted as of September 2, 2004. The new weights use the dollar volume of conventional mortgage originations within the 1-unit Freddie Mac loan limit as reported under Home Mortgage Disclosure Act (HMDA) for 2003. The weights are listed in the table below.
PRIMARY MORTGAGE MARKET SURVEY RESULTS
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 30-Year Fixed Rate Mortgages | ||||||
| Exception = 0 >= 0
| ||||||
|
||||||