Fixed Mortgage Rates See First Increase in Six Weeks
Fixed Mortgage Rates See First Increase in Six Weeks
Fixed Mortgage Rates See First Increase in Six Weeks
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June 15, 2012 (Shirley Allen)

Average fixed mortgage rates edged slightly higher this week for the first time in six weeks according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending June 14th.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages increased slightly from last week’s record lows with the 30-year fixed rate averaging 3.71 percent with an average of 0.7 points, up from last week’s record low average of 3.67 percent. A year ago, the 30-year fixed rate mortgage averaged 4.50 percent.

The 15-year fixed rate mortgage increased to 2.98 percent with an average of 0.7 points, up from last week’s record low average of 2.94 percent. At this time last year, the 15-year fixed rate mortgage averaged 3.67 percent.

Adjustable Rate Mortgages:

Interest rates for adjustable mortgages fell last week with the 5-year Treasury-indexed hybrid ARM averaging 2.80 percent, with an average of 0.6 points, down from last week’s average of 2.84 percent. The 5-year adjustable rate mortgage averaged 3.27 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage averaged 2.78 percent with an average of 0.5 points, down from last week’s average of 2.79 percent. A year ago, the 1-year adjustable rate mortgage averaged 2.97 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Fixed mortgage rates edged up slightly from record lows during a mild week of economic data releases. The Federal Reserve Board reported that household net worth rose by $2 trillion to $62.9 trillion over the first three months of 2012 primarily due to increases in stock markets. However, this is still well below the peak of $67.5 trillion set in the third quarter of 2007. Nonetheless, homeowners saw an aggregate $372 billion rise in property values over the first three months of this year.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.71 3.74 3.72 3.73 3.72 3.65
Fees & Points 0.7 0.6 0.7 0.7 0.7 0.8

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 2.98 2.99 2.99 2.99 2.99 2.95
Fees & Points 0.7 0.7 0.7 0.6 0.7 0.7

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.80 2.74 2.84 2.93 2.79 2.74
Fees & Points 0.6 0.6 0.6 0.5 0.7 0.6
Margin 2.74 2.74 2.75 2.73 2.76 2.74

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.78 2.98 2.75 2.68 2.73 2.72
Fees & Points 0.5 0.6 0.5 0.4 0.5 0.4
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 4.50 3.67 3.27 2.97 3.67 2.94 2.84 2.79
Fees & Points 0.7 0.7 0.6 0.5 0.7 0.7 0.7 0.4
Margin N/A N/A 2.74 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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June 15, 2012 (Shirley Allen)

Average fixed mortgage rates edged slightly higher this week for the first time in six weeks according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending June 14th.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages increased slightly from last week’s record lows with the 30-year fixed rate averaging 3.71 percent with an average of 0.7 points, up from last week’s record low average of 3.67 percent. A year ago, the 30-year fixed rate mortgage averaged 4.50 percent.

The 15-year fixed rate mortgage increased to 2.98 percent with an average of 0.7 points, up from last week’s record low average of 2.94 percent. At this time last year, the 15-year fixed rate mortgage averaged 3.67 percent.

Adjustable Rate Mortgages:

Interest rates for adjustable mortgages fell last week with the 5-year Treasury-indexed hybrid ARM averaging 2.80 percent, with an average of 0.6 points, down from last week’s average of 2.84 percent. The 5-year adjustable rate mortgage averaged 3.27 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage averaged 2.78 percent with an average of 0.5 points, down from last week’s average of 2.79 percent. A year ago, the 1-year adjustable rate mortgage averaged 2.97 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Fixed mortgage rates edged up slightly from record lows during a mild week of economic data releases. The Federal Reserve Board reported that household net worth rose by $2 trillion to $62.9 trillion over the first three months of 2012 primarily due to increases in stock markets. However, this is still well below the peak of $67.5 trillion set in the third quarter of 2007. Nonetheless, homeowners saw an aggregate $372 billion rise in property values over the first three months of this year.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.71 3.74 3.72 3.73 3.72 3.65
Fees & Points 0.7 0.6 0.7 0.7 0.7 0.8

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 2.98 2.99 2.99 2.99 2.99 2.95
Fees & Points 0.7 0.7 0.7 0.6 0.7 0.7

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.80 2.74 2.84 2.93 2.79 2.74
Fees & Points 0.6 0.6 0.6 0.5 0.7 0.6
Margin 2.74 2.74 2.75 2.73 2.76 2.74

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.78 2.98 2.75 2.68 2.73 2.72
Fees & Points 0.5 0.6 0.5 0.4 0.5 0.4
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 4.50 3.67 3.27 2.97 3.67 2.94 2.84 2.79
Fees & Points 0.7 0.7 0.6 0.5 0.7 0.7 0.7 0.4
Margin N/A N/A 2.74 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.
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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.
Helpful Tools

June 15, 2012 (Shirley Allen)

Average fixed mortgage rates edged slightly higher this week for the first time in six weeks according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending June 14th.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages increased slightly from last week’s record lows with the 30-year fixed rate averaging 3.71 percent with an average of 0.7 points, up from last week’s record low average of 3.67 percent. A year ago, the 30-year fixed rate mortgage averaged 4.50 percent.

The 15-year fixed rate mortgage increased to 2.98 percent with an average of 0.7 points, up from last week’s record low average of 2.94 percent. At this time last year, the 15-year fixed rate mortgage averaged 3.67 percent.

Adjustable Rate Mortgages:

Interest rates for adjustable mortgages fell last week with the 5-year Treasury-indexed hybrid ARM averaging 2.80 percent, with an average of 0.6 points, down from last week’s average of 2.84 percent. The 5-year adjustable rate mortgage averaged 3.27 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage averaged 2.78 percent with an average of 0.5 points, down from last week’s average of 2.79 percent. A year ago, the 1-year adjustable rate mortgage averaged 2.97 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Fixed mortgage rates edged up slightly from record lows during a mild week of economic data releases. The Federal Reserve Board reported that household net worth rose by $2 trillion to $62.9 trillion over the first three months of 2012 primarily due to increases in stock markets. However, this is still well below the peak of $67.5 trillion set in the third quarter of 2007. Nonetheless, homeowners saw an aggregate $372 billion rise in property values over the first three months of this year.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.71 3.74 3.72 3.73 3.72 3.65
Fees & Points 0.7 0.6 0.7 0.7 0.7 0.8

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 2.98 2.99 2.99 2.99 2.99 2.95
Fees & Points 0.7 0.7 0.7 0.6 0.7 0.7

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.80 2.74 2.84 2.93 2.79 2.74
Fees & Points 0.6 0.6 0.6 0.5 0.7 0.6
Margin 2.74 2.74 2.75 2.73 2.76 2.74

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.78 2.98 2.75 2.68 2.73 2.72
Fees & Points 0.5 0.6 0.5 0.4 0.5 0.4
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 4.50 3.67 3.27 2.97 3.67 2.94 2.84 2.79
Fees & Points 0.7 0.7 0.6 0.5 0.7 0.7 0.7 0.4
Margin N/A N/A 2.74 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.