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Fixed Mortgage Rates Rise From Their Record Lows
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Fixed Mortgage Rates Rise From Their Record Lows
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August 3, 2012 (Shirley Allen)

Mortgage interest rates for fixed loans increased this week with the 30-year fixed rate mortgage increasing for only the second time in the last 15 weeks according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending August 2nd.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages rose from their record lows last week, with the 30-year fixed rate averaging 3.55 percent with an average of 0.7 points, up from the previous week’s record low average of 3.49 percent. It was the 19th consecutive week that mortgage rates have been under four percent. A year ago, the 30-year fixed rate mortgage averaged 4.39 percent.

The 15-year fixed rate mortgage averaged 2.83 percent with an average of 0.6 points, up from last week’s record low average of 2.80 percent. Mortgage rates for the 15-year fixed mortgage have been under three percent for ten consecutive weeks. At this time last year, the 15-year fixed rate mortgage averaged 3.66 percent.

Adjustable Rate Mortgages:

Interest rates for adjustable-rate mortgages were mixed this week with the 5-year Treasury-indexed hybrid ARM averaging 2.75 percent, with an average of 0.6 points, up from last average of 2.74 percent. The 5-year adjustable rate mortgage averaged 3.18 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage averaged 2.70 percent with an average of 0.4 points, down from last week’s average of 2.71 percent. A year ago, the 1-year adjustable rate mortgage averaged 3.02 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Recent announcements of additional debt relief for the Eurozone and mixed domestic economic indicators added upward pressure on Treasury yields as well as mortgage rates this week. The U.S. economy grew at a 1.5 percent annualized rate in the second quarter, slower than the 2.0 percent growth in the first quarter with consumer spending in June unchanged from May. However, consumer confidence rose in July for the first time in five months according to The Conference Board. Housing data were also assorted. The S&P-500 Case Shiller® 20-City Composite Index rose for the fourth consecutive month in May with 18 of the cities experiencing positive growth. Nonetheless, pending home sales fell 1.4 percent in June, below the market consensus forecast of a 0.3 percent increase, and May’s figure had a downward revision.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.55 3.57 3.58 3.56 3.59 3.50
Fees & Points 0.7 0.6 0.7 0.7 0.7 0.7

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 2.83 2.84 2.84 2.85 2.89 2.78
Fees & Points 0.6 0.6 0.7 0.5 0.6 0.6

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.75 2.77 2.76 2.86 2.68 2.69
Fees & Points 0.6 0.6 0.6 0.5 0.7 0.6
Margin 2.75 2.76 2.75 2.73 2.76 2.74

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.70 2.81 2.67 2.65 2.70 2.65
Fees & Points 0.4 0.5 0.5 0.3 0.4 0.3
Margin 2.76 2.79 2.78 2.73 2.77 2.75

The National Mortgage Rate Snapshot One Year Ago One Week Ago
  30-YR 15-YR 5/1-YR 1-YR ARM 30-YR 15-YR 5/1-YR 1-YR ARM
Average 4.39   3.54   3.18   3.02   3.49   2.80   2.74   2.71  
Fees & Points 0.8   0.7   0.6   0.5   0.7   0.7   0.6   0.5  
Margin N/A N/A 2.70   2.76   N/A N/A 2.74   2.76  

Tags: 15 year fixed, 30 year fixed, fixed rate mortgage, freddie mac, interest rates, mortgage rates, 5-year hybrid, 1-year treasury

Source:
Freddie Mac

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Todays Mortgage
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August 3, 2012 (Shirley Allen)

Mortgage interest rates for fixed loans increased this week with the 30-year fixed rate mortgage increasing for only the second time in the last 15 weeks according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending August 2nd.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages rose from their record lows last week, with the 30-year fixed rate averaging 3.55 percent with an average of 0.7 points, up from the previous week’s record low average of 3.49 percent. It was the 19th consecutive week that mortgage rates have been under four percent. A year ago, the 30-year fixed rate mortgage averaged 4.39 percent.

The 15-year fixed rate mortgage averaged 2.83 percent with an average of 0.6 points, up from last week’s record low average of 2.80 percent. Mortgage rates for the 15-year fixed mortgage have been under three percent for ten consecutive weeks. At this time last year, the 15-year fixed rate mortgage averaged 3.66 percent.

Adjustable Rate Mortgages:

Interest rates for adjustable-rate mortgages were mixed this week with the 5-year Treasury-indexed hybrid ARM averaging 2.75 percent, with an average of 0.6 points, up from last average of 2.74 percent. The 5-year adjustable rate mortgage averaged 3.18 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage averaged 2.70 percent with an average of 0.4 points, down from last week’s average of 2.71 percent. A year ago, the 1-year adjustable rate mortgage averaged 3.02 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Recent announcements of additional debt relief for the Eurozone and mixed domestic economic indicators added upward pressure on Treasury yields as well as mortgage rates this week. The U.S. economy grew at a 1.5 percent annualized rate in the second quarter, slower than the 2.0 percent growth in the first quarter with consumer spending in June unchanged from May. However, consumer confidence rose in July for the first time in five months according to The Conference Board. Housing data were also assorted. The S&P-500 Case Shiller® 20-City Composite Index rose for the fourth consecutive month in May with 18 of the cities experiencing positive growth. Nonetheless, pending home sales fell 1.4 percent in June, below the market consensus forecast of a 0.3 percent increase, and May’s figure had a downward revision.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.55 3.57 3.58 3.56 3.59 3.50
Fees & Points 0.7 0.6 0.7 0.7 0.7 0.7

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 2.83 2.84 2.84 2.85 2.89 2.78
Fees & Points 0.6 0.6 0.7 0.5 0.6 0.6

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.75 2.77 2.76 2.86 2.68 2.69
Fees & Points 0.6 0.6 0.6 0.5 0.7 0.6
Margin 2.75 2.76 2.75 2.73 2.76 2.74

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.70 2.81 2.67 2.65 2.70 2.65
Fees & Points 0.4 0.5 0.5 0.3 0.4 0.3
Margin 2.76 2.79 2.78 2.73 2.77 2.75

The National Mortgage Rate Snapshot One Year Ago One Week Ago
  30-YR 15-YR 5/1-YR 1-YR ARM 30-YR 15-YR 5/1-YR 1-YR ARM
Average 4.39   3.54   3.18   3.02   3.49   2.80   2.74   2.71  
Fees & Points 0.8   0.7   0.6   0.5   0.7   0.7   0.6   0.5  
Margin N/A N/A 2.70   2.76   N/A N/A 2.74   2.76  

Tags: 15 year fixed, 30 year fixed, fixed rate mortgage, freddie mac, interest rates, mortgage rates, 5-year hybrid, 1-year treasury

Source:
Freddie Mac

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

August 3, 2012 (Shirley Allen)

Mortgage interest rates for fixed loans increased this week with the 30-year fixed rate mortgage increasing for only the second time in the last 15 weeks according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending August 2nd.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages rose from their record lows last week, with the 30-year fixed rate averaging 3.55 percent with an average of 0.7 points, up from the previous week’s record low average of 3.49 percent. It was the 19th consecutive week that mortgage rates have been under four percent. A year ago, the 30-year fixed rate mortgage averaged 4.39 percent.

The 15-year fixed rate mortgage averaged 2.83 percent with an average of 0.6 points, up from last week’s record low average of 2.80 percent. Mortgage rates for the 15-year fixed mortgage have been under three percent for ten consecutive weeks. At this time last year, the 15-year fixed rate mortgage averaged 3.66 percent.

Adjustable Rate Mortgages:

Interest rates for adjustable-rate mortgages were mixed this week with the 5-year Treasury-indexed hybrid ARM averaging 2.75 percent, with an average of 0.6 points, up from last average of 2.74 percent. The 5-year adjustable rate mortgage averaged 3.18 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage averaged 2.70 percent with an average of 0.4 points, down from last week’s average of 2.71 percent. A year ago, the 1-year adjustable rate mortgage averaged 3.02 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Recent announcements of additional debt relief for the Eurozone and mixed domestic economic indicators added upward pressure on Treasury yields as well as mortgage rates this week. The U.S. economy grew at a 1.5 percent annualized rate in the second quarter, slower than the 2.0 percent growth in the first quarter with consumer spending in June unchanged from May. However, consumer confidence rose in July for the first time in five months according to The Conference Board. Housing data were also assorted. The S&P-500 Case Shiller® 20-City Composite Index rose for the fourth consecutive month in May with 18 of the cities experiencing positive growth. Nonetheless, pending home sales fell 1.4 percent in June, below the market consensus forecast of a 0.3 percent increase, and May’s figure had a downward revision.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.55 3.57 3.58 3.56 3.59 3.50
Fees & Points 0.7 0.6 0.7 0.7 0.7 0.7

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 2.83 2.84 2.84 2.85 2.89 2.78
Fees & Points 0.6 0.6 0.7 0.5 0.6 0.6

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.75 2.77 2.76 2.86 2.68 2.69
Fees & Points 0.6 0.6 0.6 0.5 0.7 0.6
Margin 2.75 2.76 2.75 2.73 2.76 2.74

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.70 2.81 2.67 2.65 2.70 2.65
Fees & Points 0.4 0.5 0.5 0.3 0.4 0.3
Margin 2.76 2.79 2.78 2.73 2.77 2.75

The National Mortgage Rate Snapshot One Year Ago One Week Ago
  30-YR 15-YR 5/1-YR 1-YR ARM 30-YR 15-YR 5/1-YR 1-YR ARM
Average 4.39   3.54   3.18   3.02   3.49   2.80   2.74   2.71  
Fees & Points 0.8   0.7   0.6   0.5   0.7   0.7   0.6   0.5  
Margin N/A N/A 2.70   2.76   N/A N/A 2.74   2.76  

Tags: 15 year fixed, 30 year fixed, fixed rate mortgage, freddie mac, interest rates, mortgage rates, 5-year hybrid, 1-year treasury

Source:
Freddie Mac

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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