FHFA: Average Mortgage Rates Continue to Fall in June
FHFA: Average Mortgage Rates Continue to Fall in June
FHFA: Average Mortgage Rates Continue to Fall in June
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July 30, 2012 (Jeff Alan)

The average interest rates for conventional 30-year fixed rate single-family, fully amortized, purchase-money mortgages fell from 4.04 percent in May to 3.88 percent in June according to the Federal Housing Finance Agency’s (FHFA) Monthly Interest Rate Survey.

The results of the survey reflect loans closed during the June 25-30 period from 30 lenders and data from 5,584 mortgage loans. Since mortgage loans typically take 30-45 to close, the reported rates reflect market conditions in mid to late May.

The average interest rate of all mortgage loans, fixed and adjustable-rate, was 3.67 percent in June, down from 3.78 percent in May.

The effective mortgage interest rate, including initial fees and charges, fell to 3.81 percent from 3.91 percent in May.

Seventeen percent of all purchase-money mortgage loans were no-point loans, up from 13 percent in May, while initial fees and charges averaged 1.07 percent of the loan balance in June, up from 1.03 percent in May.

The average loan amount was $263,200 in June, unchanged May, with the average loan-to-price ratio decreasing from 76.4 percent in May to 75.6 percent in June.

The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Home by Combined Lenders, used to index some ARM contracts, fell from 3.78 percent in May to 3.67 percent in June.

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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Calculator

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Learn About
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15 Year vs 30 Year
Loan Comparison

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Todays Mortgage
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July 30, 2012 (Jeff Alan)

The average interest rates for conventional 30-year fixed rate single-family, fully amortized, purchase-money mortgages fell from 4.04 percent in May to 3.88 percent in June according to the Federal Housing Finance Agency’s (FHFA) Monthly Interest Rate Survey.

The results of the survey reflect loans closed during the June 25-30 period from 30 lenders and data from 5,584 mortgage loans. Since mortgage loans typically take 30-45 to close, the reported rates reflect market conditions in mid to late May.

The average interest rate of all mortgage loans, fixed and adjustable-rate, was 3.67 percent in June, down from 3.78 percent in May.

The effective mortgage interest rate, including initial fees and charges, fell to 3.81 percent from 3.91 percent in May.

Seventeen percent of all purchase-money mortgage loans were no-point loans, up from 13 percent in May, while initial fees and charges averaged 1.07 percent of the loan balance in June, up from 1.03 percent in May.

The average loan amount was $263,200 in June, unchanged May, with the average loan-to-price ratio decreasing from 76.4 percent in May to 75.6 percent in June.

The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Home by Combined Lenders, used to index some ARM contracts, fell from 3.78 percent in May to 3.67 percent in June.

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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July 30, 2012 (Jeff Alan)

The average interest rates for conventional 30-year fixed rate single-family, fully amortized, purchase-money mortgages fell from 4.04 percent in May to 3.88 percent in June according to the Federal Housing Finance Agency’s (FHFA) Monthly Interest Rate Survey.

The results of the survey reflect loans closed during the June 25-30 period from 30 lenders and data from 5,584 mortgage loans. Since mortgage loans typically take 30-45 to close, the reported rates reflect market conditions in mid to late May.

The average interest rate of all mortgage loans, fixed and adjustable-rate, was 3.67 percent in June, down from 3.78 percent in May.

The effective mortgage interest rate, including initial fees and charges, fell to 3.81 percent from 3.91 percent in May.

Seventeen percent of all purchase-money mortgage loans were no-point loans, up from 13 percent in May, while initial fees and charges averaged 1.07 percent of the loan balance in June, up from 1.03 percent in May.

The average loan amount was $263,200 in June, unchanged May, with the average loan-to-price ratio decreasing from 76.4 percent in May to 75.6 percent in June.

The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Home by Combined Lenders, used to index some ARM contracts, fell from 3.78 percent in May to 3.67 percent in June.

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.