The 30 year Fixed Rate Mortgage increased to 5.72 from a rate of 5.67 during the week ended 14th of february, leaving the fees as well as points unaltered at 0.4.However this rate is low compared to that of the previous year's 6.30.

The status of 15 year Fixed Rate Mortgage is no different from the former with .10 percent more than the previous week's 5.15 percent. While the points remained unchnanged at 0.4.If we look at the rate of the same exactly a year ago it is 6.03 percent.

The condition of Adjustable Rate Mortgages is reverse. They have pitched low to a 5.19 basis Ponts. This is the condition of Five year Hybrid treasury product. The points and fees remain the same at 0.4 for this product as well. The average of five year hybrid ARM a year ago was 6.01 percent.

The one year treasury Indexed ARM was at 5.03 percent and the points were 0.5 during the week ended 7th february. However this week's rate shows a slight decline with the basis points at 5.0 percent and points at 0.4 percent. The product was averaged at 5.52 percent around the same time the previous year. 

According to the Vice President and economist Freddie Mac, The week had mild effects on economic data releases that has brought about a mixed condition in the countruy's current economic status. Good news is that the labor productivity shows hike compared to the forecast made in the 4th quarter of previous year. Gains in the sector of labour costs have also pitched low. Weakness in the area of home sales during the month of january and fevruary is indicated by the fall in rate of pending sales of existing homes. As a result the week's mortgage rates have not undergone any considerable change.

He also added that the historical decline in the price of properties and mortgage rates from the year 2005 must have propelled a lot of people to buy new homes but it did not occur as banks were tightening their norms. As a result only a few families  were successful in being the bnefactor of such factors.

This fact was confirned by the reports of MBA's loan application status. However the changes were more evident in the case of FRMs.

the 30 year FRMs average contract rate of interest leaped 37 basis points to a percentage of 6.09 while the points decreased from 1.15 to 1.10.

The contract interest of 15 year product has increased to 5.55 percent from a 5.18 percent. with the points unaltered at 1.08.

MBA observed only the status of 1 year ARM whose basis points remained constant at a percentage of 5.72 while its points increased from .90 to .91