FHFA: Average Mortgage Loan Rates Tumble in May
FHFA: Average Mortgage Loan Rates Tumble in May
FHFA: Average Mortgage Loan Rates Tumble in May
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June 27, 2012 (Jeff Alan)

The average interest rates for conventional 30-year fixed rate single-family, fully amortized, purchase-money mortgages fell from 4.21 percent in April to 4.04 percent in May according to the Federal Housing Finance Agency’s (FHFA) Monthly Interest Rate Survey.

The results of the survey reflect loans closed during the May 25-31 period from 22 lenders and data from 5,372 mortgage loans. Since mortgage loans typically take 30-45 to close, the reported rates reflect market conditions in mid to late April.

The average interest rate of all mortgage loans, fixed and adjustable-rate, was 3.78 percent in May, down from 3.93 percent in April.

The effective mortgage interest rate, including initial fees and charges, fell to 3.91 percent from 4.03 percent in April.

Thirteen percent of all purchase-money mortgage loans were no-point loans, down from 20 percent in April, while initial fees and charges averaged 1.03 percent of the loan balance in May, up from 0.90 percent in April.

The average loan amount increased to $263,200 in May from $256,200 in April, with the average loan-to-price ratio increasing from 75.3 percent in April to 76.4 percent in May.

The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Home by Combined Lenders, used to index some ARM contracts, fell from 3.93 percent in April to 3.78 percent in May.

Tags: FHFA, mortgage interest rates, purchase money mortgages, initial fees and charges, points, mortgage loan, ARM, no-points mortgage

Source:
FHFA

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Learn About
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Loan Comparison

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Todays Mortgage
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June 27, 2012 (Jeff Alan)

The average interest rates for conventional 30-year fixed rate single-family, fully amortized, purchase-money mortgages fell from 4.21 percent in April to 4.04 percent in May according to the Federal Housing Finance Agency’s (FHFA) Monthly Interest Rate Survey.

The results of the survey reflect loans closed during the May 25-31 period from 22 lenders and data from 5,372 mortgage loans. Since mortgage loans typically take 30-45 to close, the reported rates reflect market conditions in mid to late April.

The average interest rate of all mortgage loans, fixed and adjustable-rate, was 3.78 percent in May, down from 3.93 percent in April.

The effective mortgage interest rate, including initial fees and charges, fell to 3.91 percent from 4.03 percent in April.

Thirteen percent of all purchase-money mortgage loans were no-point loans, down from 20 percent in April, while initial fees and charges averaged 1.03 percent of the loan balance in May, up from 0.90 percent in April.

The average loan amount increased to $263,200 in May from $256,200 in April, with the average loan-to-price ratio increasing from 75.3 percent in April to 76.4 percent in May.

The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Home by Combined Lenders, used to index some ARM contracts, fell from 3.93 percent in April to 3.78 percent in May.

Tags: FHFA, mortgage interest rates, purchase money mortgages, initial fees and charges, points, mortgage loan, ARM, no-points mortgage

Source:
FHFA

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
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June 27, 2012 (Jeff Alan)

The average interest rates for conventional 30-year fixed rate single-family, fully amortized, purchase-money mortgages fell from 4.21 percent in April to 4.04 percent in May according to the Federal Housing Finance Agency’s (FHFA) Monthly Interest Rate Survey.

The results of the survey reflect loans closed during the May 25-31 period from 22 lenders and data from 5,372 mortgage loans. Since mortgage loans typically take 30-45 to close, the reported rates reflect market conditions in mid to late April.

The average interest rate of all mortgage loans, fixed and adjustable-rate, was 3.78 percent in May, down from 3.93 percent in April.

The effective mortgage interest rate, including initial fees and charges, fell to 3.91 percent from 4.03 percent in April.

Thirteen percent of all purchase-money mortgage loans were no-point loans, down from 20 percent in April, while initial fees and charges averaged 1.03 percent of the loan balance in May, up from 0.90 percent in April.

The average loan amount increased to $263,200 in May from $256,200 in April, with the average loan-to-price ratio increasing from 75.3 percent in April to 76.4 percent in May.

The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Home by Combined Lenders, used to index some ARM contracts, fell from 3.93 percent in April to 3.78 percent in May.

Tags: FHFA, mortgage interest rates, purchase money mortgages, initial fees and charges, points, mortgage loan, ARM, no-points mortgage

Source:
FHFA

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.