FEAR OF INFLATION NUDGES MORTGAGE RATES HIGHER FOR THE SIXTH CONSECUTIVE WEEK

Long- and Short-Term Rates Rise This Week

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 6.01 percent, with an average 0.7 points, for the week ending March 24, 2005, up from last week when it averaged 5.95 percent. Last year at this time, the 30-year FRM averaged 5.40 percent. The average for the 15-year FRM this week is 5.56 percent, with an average 0.7 points, up from last week when it averaged 5.47 percent. A year ago, the 15-year FRM averaged 4.70 percent. Five-Year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 5.35 percent this week, with an average 0.7 points, up from 5.31 last week. There is no annual historical information for last year since Freddie Mac only began tracking this mortgage rate at the start of this year. One-year Treasury-indexed adjustable-rate mortgages (ARMs) averaged 4.24 percent this week, with an average 0.8 point, up from last week when it averaged 4.20 percent. At this time last year, the one-year ARM averaged 3.36 percent.