Freddie Mactoday released the results of itsPrimary Mortgage Market Survey, which showed weaker than expected job growth in May pushing both fixed and adjustable-rate mortgages to new lows for the year. The 30-year fixed averaged 4.49 percent and the 15-year averaged 3.68 percent, its lowest since November, 2010.

News Facts

• 30-year fixed-rate mortgage(FRM) averaged 4.49 percent with an average 0.7 point for the week endingJune 9, 2011, downfrom last week when it averaged 4.55 percent. Last year at this time, the 30-year FRM averaged 4.72 percent.

• 15-year FRMthis week averaged 3.68 percent with an average 0.7 point, downfrom last week when it averaged 3.74 percent.A year ago at this time, the 15-year FRM averaged 4.17 percent.

• 5-year Treasury-indexed hybrid adjustable-rate mortgage(ARM) averaged 3.28 percent this week, with an average 0.5 point,down from last week when it averaged 3.41 percent. A year ago, the 5-year ARM averaged 3.92 percent.

• 1-year Treasury-indexed ARMaveraged 2.95 percent this week with an average 0.5 point, downfrom last week when it averaged 3.13 percent. At this time last year, the 1-year ARM averaged 3.91 percent.

Average commitment rates should be reported along with average fees and points to reflect the total cost of obtaining the mortgage.

Quotes

Attributed toFrank Nothaft, vice president and chief economist, Freddie Mac.

• "Long-term Treasury yields moved lower following a weakjobs reportand mortgage rates followed suit. The economy added 54,000 jobs in May, the fewest in eight months, and factories cut payrolls for the first time in seven months. As a result, the unemployment rate rose to 9.1 percent, representing the highest rate since December.

• "The housing market continues to be fragile across the nation as well. In its latest regional economic review releasedJune 8th, theFederal Reserve Boardindicated that residential sales and home prices showed continued weakness in most Districts."