FHFA Mortgage Interest Rates Fall in October
FHFA Mortgage Interest Rates Fall in October
FHFA Mortgage Interest Rates Fall in October
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The average interest rates for conventional 30-year fixed rate mortgages moved from 4.63 percent in September to 4.58 percent in October according to the Federal Housing Finance Agency’s (FHFA) Monthly Interest Rate Survey, a decrease of five basis points.

The decrease in October follows September’s increase of 14 basis points and was the first decline in interest rates in five months

The results of the survey reflect loans closed during the last five working days of October from 33 lenders and data from 5,773 mortgage loans. Since mortgage loans typically take 30-45 days to close, the reported rates reflect market conditions in mid to late September.

The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders, used to index some ARM contracts, decreased to 4.32 percent from 4.36 percent in September.

The effective mortgage interest rate, which includes initial fees and charges over the first ten years of a mortgage loan also decreased, falling to 4.49 percent from 4.51 percent in September.

The average loan amount for a 30-year fixed rate mortgage was $269,000 in October, down from $270,100 in September, a decline of 0.8 percent.

FHFA Mortgage Rates Oct 2013

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

Source:
FHFA

Reported by Jeff Alan

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The average interest rates for conventional 30-year fixed rate mortgages moved from 4.63 percent in September to 4.58 percent in October according to the Federal Housing Finance Agency’s (FHFA) Monthly Interest Rate Survey, a decrease of five basis points.

The decrease in October follows September’s increase of 14 basis points and was the first decline in interest rates in five months

The results of the survey reflect loans closed during the last five working days of October from 33 lenders and data from 5,773 mortgage loans. Since mortgage loans typically take 30-45 days to close, the reported rates reflect market conditions in mid to late September.

The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders, used to index some ARM contracts, decreased to 4.32 percent from 4.36 percent in September.

The effective mortgage interest rate, which includes initial fees and charges over the first ten years of a mortgage loan also decreased, falling to 4.49 percent from 4.51 percent in September.

The average loan amount for a 30-year fixed rate mortgage was $269,000 in October, down from $270,100 in September, a decline of 0.8 percent.

FHFA Mortgage Rates Oct 2013

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

Source:
FHFA

Reported by Jeff Alan

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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The average interest rates for conventional 30-year fixed rate mortgages moved from 4.63 percent in September to 4.58 percent in October according to the Federal Housing Finance Agency’s (FHFA) Monthly Interest Rate Survey, a decrease of five basis points.

The decrease in October follows September’s increase of 14 basis points and was the first decline in interest rates in five months

The results of the survey reflect loans closed during the last five working days of October from 33 lenders and data from 5,773 mortgage loans. Since mortgage loans typically take 30-45 days to close, the reported rates reflect market conditions in mid to late September.

The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders, used to index some ARM contracts, decreased to 4.32 percent from 4.36 percent in September.

The effective mortgage interest rate, which includes initial fees and charges over the first ten years of a mortgage loan also decreased, falling to 4.49 percent from 4.51 percent in September.

The average loan amount for a 30-year fixed rate mortgage was $269,000 in October, down from $270,100 in September, a decline of 0.8 percent.

FHFA Mortgage Rates Oct 2013

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

Source:
FHFA

Reported by Jeff Alan

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.