Long Term Mortgage Rates Rise For Fifth Straight Week According to Freddie Mac’s Weekly Survey

McLean, VA – Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market SurveySM (PMMSSM) in which the 30-year fixed-rate mortgage (FRM) averaged 6.58 percent, with an average 0.5 point, for the week ending April 27, 2006, up from last week's average of 6.53 percent. Last year at this time, the 30-year FRM averaged 5.78 percent. The 30-year FRM has not been higher since the week ending June 20, 2002, when it averaged 6.63 percent. The average for the 15-year FRM this week is 6.21 percent, with an average 0.5 point, up from last week's average of 6.17 percent. A year ago, the 15-year FRM averaged 5.33 percent. The 15-year FRM has not been higher since the week ending May 31, 2002, when it averaged 6.22 percent. Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 6.21 percent this week, with an average 0.6 point, up from last week when it averaged 6.16 percent. A year ago, the five-year ARM averaged 5.20 percent. One-year Treasury-indexed ARMs averaged 5.68 percent this week, with an average 0.7 point, up from last week when it averaged 5.63 percent. At this time last year, the one-year ARM averaged 4.21 percent.