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FHFA: Average Mortgage Rates Drop to 4.36 Percent in October
FHFA: Average Mortgage Rates Drop to 4.36 Percent in October
FHFA: Average Mortgage Rates Drop to 4.36 Percent in October
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November 23, 2011 (Jeff Alan)

The average interest rates for conventional 30-year fixed rate mortgages declined from 4.56 percent in September to 4.36 percent in October according to the Federal Housing Finance Agency’s (FHFA) Monthly Interest Rate Survey.

The results of the survey reflect loans closed during the October 25-31 period from 29 lenders and data from 4,131 mortgage loans. Since mortgage loans typically take 30-45 to close, the reported rates reflect market conditions in mid to late September.

The average interest rate of all mortgage loans, fixed and adjustable-rate, was 4.17 percent in October, down from 4.36 percent in September.

The effective mortgage interest rate, including initial fees and charges, declined in October to 4.29 percent from 4.49 percent in September.

Twenty-eight percent of all purchase-money mortgage loans were no-point loans, down from 29 percent in September but within two percentage points of the levels seen over the past seven months.

Initial fees and charges averaged 0.83 percent of the loan balance in October, down from 0.94 percent in September.

The average loan amount decreased in October to $218,500 from $222,700 in September, with the average loan-to-price ratio increasing from 78.3 percent in September to 78.4 percent in October.

The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Home by Combined Lenders, used to index some ARM contracts, decreased from 4.38 percent in September to 4.19 percent in October.

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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Mortgage
Calculator
Estimate your monthly mortgage payment
Auto Loan
Calculator
Determine how much car you can afford before buying
Learn About
Mortgage Loans
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15 Year vs 30 Year
Loan Comparison
Compare 15 year and 30 year mortgage loans
Todays Mortgage
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See today's mortgage rates. Shop, compare and save.

November 23, 2011 (Jeff Alan)

The average interest rates for conventional 30-year fixed rate mortgages declined from 4.56 percent in September to 4.36 percent in October according to the Federal Housing Finance Agency’s (FHFA) Monthly Interest Rate Survey.

The results of the survey reflect loans closed during the October 25-31 period from 29 lenders and data from 4,131 mortgage loans. Since mortgage loans typically take 30-45 to close, the reported rates reflect market conditions in mid to late September.

The average interest rate of all mortgage loans, fixed and adjustable-rate, was 4.17 percent in October, down from 4.36 percent in September.

The effective mortgage interest rate, including initial fees and charges, declined in October to 4.29 percent from 4.49 percent in September.

Twenty-eight percent of all purchase-money mortgage loans were no-point loans, down from 29 percent in September but within two percentage points of the levels seen over the past seven months.

Initial fees and charges averaged 0.83 percent of the loan balance in October, down from 0.94 percent in September.

The average loan amount decreased in October to $218,500 from $222,700 in September, with the average loan-to-price ratio increasing from 78.3 percent in September to 78.4 percent in October.

The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Home by Combined Lenders, used to index some ARM contracts, decreased from 4.38 percent in September to 4.19 percent in October.

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.
Information You Can Use
Helpful Tools

November 23, 2011 (Jeff Alan)

The average interest rates for conventional 30-year fixed rate mortgages declined from 4.56 percent in September to 4.36 percent in October according to the Federal Housing Finance Agency’s (FHFA) Monthly Interest Rate Survey.

The results of the survey reflect loans closed during the October 25-31 period from 29 lenders and data from 4,131 mortgage loans. Since mortgage loans typically take 30-45 to close, the reported rates reflect market conditions in mid to late September.

The average interest rate of all mortgage loans, fixed and adjustable-rate, was 4.17 percent in October, down from 4.36 percent in September.

The effective mortgage interest rate, including initial fees and charges, declined in October to 4.29 percent from 4.49 percent in September.

Twenty-eight percent of all purchase-money mortgage loans were no-point loans, down from 29 percent in September but within two percentage points of the levels seen over the past seven months.

Initial fees and charges averaged 0.83 percent of the loan balance in October, down from 0.94 percent in September.

The average loan amount decreased in October to $218,500 from $222,700 in September, with the average loan-to-price ratio increasing from 78.3 percent in September to 78.4 percent in October.

The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Home by Combined Lenders, used to index some ARM contracts, decreased from 4.38 percent in September to 4.19 percent in October.

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.
Information You Can Use

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