Fixed Mortgage Rates See First Increase Since March
Fixed Mortgage Rates See First Increase Since March
Fixed Mortgage Rates See First Increase Since March
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Interest rates on fixed rate mortgages posted their first increase since the end of March according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending May 9th, 2013.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages increased for the first time in six weeks with the 30-year fixed rate mortgage increasing seven basis points this week to 3.42 percent with an average of 0.7 points. Mortgage rates for the 30-year fixed mortgage have been under four percent for 59 consecutive weeks. A year ago, the 30-year fixed rate mortgage averaged 3.83 percent.

Average 30-year rates were generally the lowest in the Western portion of the United States where mortgage rates averaged 3.38 percent while the highest rates were reported in the Northeastern area of the country where interest rates averaged 3.45 percent.

The average rate for a 15-year fixed mortgage also increased this week after hitting a new record low last week, climbing to 2.61 percent with an average of 0.7 points from an average of 2.56 percent last week. Mortgage rates for the 15-year fixed mortgage have been under three percent for 50 consecutive weeks. At this time last year, the 15-year fixed rate mortgage averaged 3.05 percent.

Adjustable Rate Mortgages:

Interest rates for adjustable-rate mortgages were mixed this week with the 5-year Treasury-indexed hybrid ARM rising slightly to 2.58 percent, with an average of 0.5 points, up from last week’s record low average of 2.56 percent. The 5-year adjustable rate mortgage averaged 2.81 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage averaged 2.53 percent with an average of 0.4 points, down from last week’s average of 2.56 percent. A year ago, the 1-year adjustable rate mortgage averaged 2.70 percent.

Freddie Mac Weekly 05-10-13

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

Reported by Shirley Allen

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Interest rates on fixed rate mortgages posted their first increase since the end of March according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending May 9th, 2013.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages increased for the first time in six weeks with the 30-year fixed rate mortgage increasing seven basis points this week to 3.42 percent with an average of 0.7 points. Mortgage rates for the 30-year fixed mortgage have been under four percent for 59 consecutive weeks. A year ago, the 30-year fixed rate mortgage averaged 3.83 percent.

Average 30-year rates were generally the lowest in the Western portion of the United States where mortgage rates averaged 3.38 percent while the highest rates were reported in the Northeastern area of the country where interest rates averaged 3.45 percent.

The average rate for a 15-year fixed mortgage also increased this week after hitting a new record low last week, climbing to 2.61 percent with an average of 0.7 points from an average of 2.56 percent last week. Mortgage rates for the 15-year fixed mortgage have been under three percent for 50 consecutive weeks. At this time last year, the 15-year fixed rate mortgage averaged 3.05 percent.

Adjustable Rate Mortgages:

Interest rates for adjustable-rate mortgages were mixed this week with the 5-year Treasury-indexed hybrid ARM rising slightly to 2.58 percent, with an average of 0.5 points, up from last week’s record low average of 2.56 percent. The 5-year adjustable rate mortgage averaged 2.81 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage averaged 2.53 percent with an average of 0.4 points, down from last week’s average of 2.56 percent. A year ago, the 1-year adjustable rate mortgage averaged 2.70 percent.

Freddie Mac Weekly 05-10-13

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

Reported by Shirley Allen

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
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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

Interest rates on fixed rate mortgages posted their first increase since the end of March according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending May 9th, 2013.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages increased for the first time in six weeks with the 30-year fixed rate mortgage increasing seven basis points this week to 3.42 percent with an average of 0.7 points. Mortgage rates for the 30-year fixed mortgage have been under four percent for 59 consecutive weeks. A year ago, the 30-year fixed rate mortgage averaged 3.83 percent.

Average 30-year rates were generally the lowest in the Western portion of the United States where mortgage rates averaged 3.38 percent while the highest rates were reported in the Northeastern area of the country where interest rates averaged 3.45 percent.

The average rate for a 15-year fixed mortgage also increased this week after hitting a new record low last week, climbing to 2.61 percent with an average of 0.7 points from an average of 2.56 percent last week. Mortgage rates for the 15-year fixed mortgage have been under three percent for 50 consecutive weeks. At this time last year, the 15-year fixed rate mortgage averaged 3.05 percent.

Adjustable Rate Mortgages:

Interest rates for adjustable-rate mortgages were mixed this week with the 5-year Treasury-indexed hybrid ARM rising slightly to 2.58 percent, with an average of 0.5 points, up from last week’s record low average of 2.56 percent. The 5-year adjustable rate mortgage averaged 2.81 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage averaged 2.53 percent with an average of 0.4 points, down from last week’s average of 2.56 percent. A year ago, the 1-year adjustable rate mortgage averaged 2.70 percent.

Freddie Mac Weekly 05-10-13

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

Reported by Shirley Allen

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.