Blog: Meet The 300th Million American And Mortgage Rates

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From today's batch of press releases:

The U.S. Census Bureau today reported that the nation's population will reach the historic milestone of 300 million on Oct. 17 at about 7:46 a.m.(EDT). This comes almost 39 years after the 200 million mark was reached on Nov. 20, 1967. The estimate is based on the expectation that the United States will register one birth every seven seconds and one death every 13 seconds between now and Oct. 17, while net international migration is expected to add one person every 31 seconds. The result is an increase in the total population of one person every 11 seconds.

Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 6.37 percent with an average 0.5 point for the week ending October 12, 2006, up from last week when it averaged 6.30 percent. Last year at this time, the 30-year FRM averaged 6.03 percent.

The 15-year FRM this week averaged 6.06 percent with an average 0.5 point, up from last week when it averaged 5.98 percent. A year ago, the 15-year FRM averaged 5.62 percent.

Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 6.10 percent this week, with an average 0.6 point, up from last week when it averaged 6.00 percent. A year ago, the five-year ARM averaged 5.57 percent.

One-year Treasury-indexed ARMs averaged 5.56 percent this week with an average 0.7 point, up from last week when it averaged 5.46 percent. At this time last year, the one-year ARM averaged 4.85 percent.

October 12, 2006

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Related Topics

• arm mortgage, 
• fixed rate mortgage, 
• interest rates, 
• mortgage

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