Fixed Rate Mortgages Spend Another Week at Their Record Lows
Fixed Rate Mortgages Spend Another Week at Their Record Lows
Fixed Rate Mortgages Spend Another Week at Their Record Lows
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June 29, 2012 (Shirley Allen)

Thirty-year fixed rate mortgages remained at their record low for another week while 15-year fixed mortgages fell one basis point, matching its record low according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending June 28th.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages declined or remained unchanged from last week with the 30-year fixed rate remaining at its all-time record low average of 3.66 percent with an average of 0.7 points. A year ago, the 30-year fixed rate mortgage averaged 4.51 percent.

The 15-year fixed rate mortgage fell back to its record low average of 2.94 percent with an average of 0.7 points, down from last week’s average of 2.95 percent. At this time last year, the 15-year fixed rate mortgage averaged 3.69 percent.

Adjustable Rate Mortgages:

Interest rates for adjustable mortgages were mixed last week with the 5-year Treasury-indexed hybrid ARM averaging 2.79 percent, with an average of 0.6 points, up from last week’s average of 2.77 percent. The 5-year adjustable rate mortgage averaged 3.22 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage averaged 2.74 percent with an average of 0.5 points, unchanged from the previous week. A year ago, the 1-year adjustable rate mortgage averaged 2.97 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Mortgage rates were virtually unchanged this week hovering at or near record lows and should further help to support a recovering housing market. Both the S&P/Case Shiller® 20-city composite and the Federal Housing Finance Agency’s house price indexes showed over a 0.5 percent monthly increase in April. Meanwhile, pending existing home sales rebounded in May by 5.9 percent to match a two year high and new home sales jumped 7.6 percent to its fastest pace since April 2010.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.66 3.70 3.68 3.65 3.68 3.62
Fees & Points 0.7 0.7 0.7 0.6 0.7 0.8

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 2.94 2.96 2.95 2.96 2.95 2.91
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 2.79 2.72 2.81 2.94 2.79 2.74
Fees & Points 0.6 0.7 0.6 0.5 0.7 0.7
Margin 2.74 2.74 2.75 2.72 2.77 2.74

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.74 2.81 2.85 2.68 2.71 2.67
Fees & Points 0.4 0.6 0.4 0.2 0.4 0.3
Margin 2.76 2.80 2.78 2.71 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 4.51   3.69   3.22   2.97   3.66   2.95   2.77   2.74  
Fees & Points 0.7   0.7   0.6   0.6   0.7   0.6   0.6   0.5  
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 29, 2012 (Shirley Allen)

Thirty-year fixed rate mortgages remained at their record low for another week while 15-year fixed mortgages fell one basis point, matching its record low according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending June 28th.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages declined or remained unchanged from last week with the 30-year fixed rate remaining at its all-time record low average of 3.66 percent with an average of 0.7 points. A year ago, the 30-year fixed rate mortgage averaged 4.51 percent.

The 15-year fixed rate mortgage fell back to its record low average of 2.94 percent with an average of 0.7 points, down from last week’s average of 2.95 percent. At this time last year, the 15-year fixed rate mortgage averaged 3.69 percent.

Adjustable Rate Mortgages:

Interest rates for adjustable mortgages were mixed last week with the 5-year Treasury-indexed hybrid ARM averaging 2.79 percent, with an average of 0.6 points, up from last week’s average of 2.77 percent. The 5-year adjustable rate mortgage averaged 3.22 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage averaged 2.74 percent with an average of 0.5 points, unchanged from the previous week. A year ago, the 1-year adjustable rate mortgage averaged 2.97 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Mortgage rates were virtually unchanged this week hovering at or near record lows and should further help to support a recovering housing market. Both the S&P/Case Shiller® 20-city composite and the Federal Housing Finance Agency’s house price indexes showed over a 0.5 percent monthly increase in April. Meanwhile, pending existing home sales rebounded in May by 5.9 percent to match a two year high and new home sales jumped 7.6 percent to its fastest pace since April 2010.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.66 3.70 3.68 3.65 3.68 3.62
Fees & Points 0.7 0.7 0.7 0.6 0.7 0.8

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 2.94 2.96 2.95 2.96 2.95 2.91
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 2.79 2.72 2.81 2.94 2.79 2.74
Fees & Points 0.6 0.7 0.6 0.5 0.7 0.7
Margin 2.74 2.74 2.75 2.72 2.77 2.74

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.74 2.81 2.85 2.68 2.71 2.67
Fees & Points 0.4 0.6 0.4 0.2 0.4 0.3
Margin 2.76 2.80 2.78 2.71 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 4.51   3.69   3.22   2.97   3.66   2.95   2.77   2.74  
Fees & Points 0.7   0.7   0.6   0.6   0.7   0.6   0.6   0.5  
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.
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.
Helpful Tools

June 29, 2012 (Shirley Allen)

Thirty-year fixed rate mortgages remained at their record low for another week while 15-year fixed mortgages fell one basis point, matching its record low according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending June 28th.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages declined or remained unchanged from last week with the 30-year fixed rate remaining at its all-time record low average of 3.66 percent with an average of 0.7 points. A year ago, the 30-year fixed rate mortgage averaged 4.51 percent.

The 15-year fixed rate mortgage fell back to its record low average of 2.94 percent with an average of 0.7 points, down from last week’s average of 2.95 percent. At this time last year, the 15-year fixed rate mortgage averaged 3.69 percent.

Adjustable Rate Mortgages:

Interest rates for adjustable mortgages were mixed last week with the 5-year Treasury-indexed hybrid ARM averaging 2.79 percent, with an average of 0.6 points, up from last week’s average of 2.77 percent. The 5-year adjustable rate mortgage averaged 3.22 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage averaged 2.74 percent with an average of 0.5 points, unchanged from the previous week. A year ago, the 1-year adjustable rate mortgage averaged 2.97 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Mortgage rates were virtually unchanged this week hovering at or near record lows and should further help to support a recovering housing market. Both the S&P/Case Shiller® 20-city composite and the Federal Housing Finance Agency’s house price indexes showed over a 0.5 percent monthly increase in April. Meanwhile, pending existing home sales rebounded in May by 5.9 percent to match a two year high and new home sales jumped 7.6 percent to its fastest pace since April 2010.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.66 3.70 3.68 3.65 3.68 3.62
Fees & Points 0.7 0.7 0.7 0.6 0.7 0.8

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 2.94 2.96 2.95 2.96 2.95 2.91
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 2.79 2.72 2.81 2.94 2.79 2.74
Fees & Points 0.6 0.7 0.6 0.5 0.7 0.7
Margin 2.74 2.74 2.75 2.72 2.77 2.74

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.74 2.81 2.85 2.68 2.71 2.67
Fees & Points 0.4 0.6 0.4 0.2 0.4 0.3
Margin 2.76 2.80 2.78 2.71 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 4.51   3.69   3.22   2.97   3.66   2.95   2.77   2.74  
Fees & Points 0.7   0.7   0.6   0.6   0.7   0.6   0.6   0.5  
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.