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Economic & Housing Research

Economic & Housing Weekly Commentary

February 4, 2010
Mortgage rates remained relatively stable for a second week amid news of a strengthening housing market. Residential fixed investment rose for two consecutive quarters over the last half of 2009 following a steady quarterly decline since the beginning of 2006. Pending existing home sales rebounded by 1 percent in December from a record drop in November that was due in part to the original expiration of the homebuyer tax credit, according the National Association of Realtors®. More recently mortgage applications for home purchases jumped 10 percent at the end of January, according to figures from the Mortgage Bankers Association.

Even more encouraging news came from the Federal Reserve’s Senior Loan Officer Opinion Survey, which reported that banks have generally stopped tightening standards on most types of loans in the fourth quarter of 2009, with commercial real estate as the exception. However, banks have yet to unwind the tightening that occurred over the last two years. Moreover, substantially fewer banks expected credit quality to deteriorate over the coming year. >> Next Commentary: February 11

 

Monthly Outlook

Freddie Mac compiles data on major economic and housing and mortgage market indicators and offers forecasts based on those indicators.

 

Refinancing Activity Reports

Freddie Mac compiles statistics on loans it purchases that refinance loans in its portfolio.

Adjustable-Rate Mortgage Annual Survey

Freddie Mac conducts an annual survey of primary market interest rates on several ARM products.

Conventional Mortgage Home Price Index

Freddie Mac's CMHPI provides a measure of typical price inflation for houses within the U.S.

Monthly Refinance & ARM Shares

Freddie Mac collects the Refinance and ARM share of applications, as reported by lenders who participate in the Weekly Mortgage Market Survey.


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Opinions, estimates, forecasts and other views contained in this page are those of Freddie Mac's Office of the Chief Economist, do not necessarily represent the views of Freddie Mac or its management, should not be construed as indicating Freddie Mac's business prospects or expected results, and are subject to change without notice. Although the Office of the Chief Economist attempts to provide reliable, useful information, it does not guarantee that the information is accurate, current or suitable for any particular purpose. © 2010 by Freddie Mac. Information from this page may be used with proper attribution.

Primary Mortgage Market Survey ®

February 4, 2010  – Long-Term Mortgage Rates Remain Stable and Low » more

  30-yr 15-yr
Avg. Rate 5.01 % 4.40 %
Fees/Pts 0.7 0.7

Next rate update: February 11, 2010

Monthly Refi & ARM Shares

  Refi ARM
December '09 75% 6%
November '09 74% 7%
December '08 69% 3%

Next Share Update:
February 19

Federal COF Index

  COFI
December '09 1.565
November '09 1.599
December '08 2.442

Next COFI Update:
February 19

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