Freddie Mactoday released the results of itsPrimary Mortgage Market Survey, showing fixed-rate mortgages changing little amid sluggish economic, mixed housing data, and ongoing concerns over the European debt markets. The 30-year fixed remained unchanged at 4.09 percent, while the 15-year fixed dropped a single basis point to 3.29 percent, marking a new record low.

News Facts

• 30-year fixed-rate mortgage(FRM) averaged 4.09 percent with an average 0.7 point for the week endingSeptember 22, 2011, matching last week when it also averaged 4.09 percent. Last year at this time, the 30-year FRM averaged 4.37 percent.

• 15-year FRMthis week averaged 3.29 percent with an average 0.6 point, down from last week when it averaged 3.30 percent.A year ago at this time, the 15-year FRM averaged 3.82 percent.

• 5-year Treasury-indexed hybrid adjustable-rate mortgage(ARM) averaged 3.02 percent this week, with an average 0.6 point,up from last week when it averaged 2.99 percent. A year ago, the 5-year ARM averaged 3.54 percent.

• 1-year Treasury-indexed ARMaveraged 2.82 percent this week with an average 0.6 point, up from last week when it averaged 2.81 percent. At this time last year, the 1-year ARM averaged 3.46 percent.

Average commitment rates should be reported along with average fees and points to reflect the total cost of obtaining the mortgage. Visit the following links forRegional and National Mortgage Rate DetailsandDefinitions.

Quotes

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

• "A sluggish economy and investor concerns over the European debt markets left mortgage rates largely unchanged this week. Manufacturing activity in both theNew YorkandPhiladelphiaregions contracted in September. Moreover, theFederal Reserve Boardreported that households lost nearly$150 billionin net worth in the second quarter, representing the first quarterly decline in a year.

• "Meanwhile, recent data on the housing market were mixed. The Census Bureau reported thatnew housing constructiondipped five percent in August to an annual pace of 571,000 homes, andhomebuilder confidenceremained near record lows for September according to the NAHB/Wells Fargo Housing Market Index.Existing home sales, however, rose to 5.03 million homes in August, which represented the strongest annualized rate since March of this year."