American Land Title Association
Print Friendly
Home  >  News Room
News Room

SoftPro is the nation's leading provider of Real Estate Closing and Title Insurance software

North American Title Insurance Company is a seasoned title insurance underwriter that has been helping customers achieve the American dream of homeownership for more than 50 years. In the past several years, we have become known as the “underwriter next door,� because our associates are always easy to reach and our processes are, at all times, quick and straightforward. Our agency application process is fast and transparent for qualified agents. NATIC offers a one-hour underwriting response guarantee that is unparallelled in our industry. In addition, we value our agents based on their title industry knowledge and experience, not just on profits alone.

Fixed Rate Mortgage Rates Inch Higher, Arms Climb More Steeply In Latest Freddie Mac Survey

November 12, 2004

Outlook For Housing Industry Remains Rosy

McLean, VA – Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey in which the 30-year fixed-rate mortgage (FRM) averaged 5.76 percent, with an average 0.7 points, for the week ending November 11, 2004, up from last week when it averaged 5.70 percent. Last year at this time, the 30-year FRM averaged 5.98 percent.

The average for the 15-year FRM this week is 5.16 percent, with an average 0.7 points, also up from last week when it averaged 5.08 percent. A year ago, the 15-year FRM averaged 5.31 percent.

One-year Treasury-indexed adjustable-rate mortgages (ARMs) averaged 4.16 percent this week, with an average 0.6 point, up from last week when it averaged 4.00 percent. At this time last year, the one-year ARM averaged 3.73 percent.

“October’s fervent job growth statistics, mixed with upward revisions in previous months, led financial markets to believe the economy is picking up steam. A large number of people reentered the workforce, leading to an uptick in the national unemployment rate to 5.5 percent, which we expect will ease back to 5.4 percent before the year is out,” said Freddie Mac Vice President and Chief Economist Frank Nothaft.

“The end result translates into higher long-term mortgage rates this week. Adjustable-rate mortgages (ARMs) were more strongly affected by the latest Federal Reserve (Fed) rate hike this week. However, mortgage rates continue to be extremely affordable and the outlook for the housing sector appears bright.”

The National Mortgage Rate Snapshop
This Week One Week Ago One Year Ago
30-Yr 15-Yr 1-Yr ARM
5.76 5.16 4.16
0.7 0.7 0.6
30-Yr 15-Yr 1-Yr ARM
5.70 5.08 4.00
0.7 0.7 0.7
30-Yr 15-Yr 1-Yr ARM
5.98 5.31 3.73
0.7 0.7 0.7

Source: Freddie Mac

Print Friendly

How To Find Us:
American Land Title Association
1800 M Street, NW, Suite 300S
Washington, D.C. 20036-5828
P. 202.296.3671 F. 202.223.5843
Copyright © 2004-2016 American Land Title Association. All rights reserved.
SecurityMetrics for PCI Compliance, QSA, IDS, Penetration Testing, Forensics, and Vulnerability Assessment