Freddie Mac: Mortgage Rates Drop Slightly for the Week
Freddie Mac: Mortgage Rates Drop Slightly for the Week
Freddie Mac: Mortgage Rates Drop Slightly for the Week
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February 17, 2011 (Chris Moore)
mortgages-arrow-down-image
Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), which shows a drop in long-term fixed rates this week. Fixed rate mortgage loan rates are generally at about the same level they were a year ago, but adjustable rate mortgage (ARM) loan rates are slightly lower.

  • 30-year fixed-rate mortgage (FRM) averaged 5.0 percent with an average 0.7 point for the week ending February 17, 2011, down from last week when it averaged 5.05 percent. Last year at this time, the 30-year FRM averaged 4.93 percent.
  • 15-year FRM this week averaged 4.27 percent with an average 0.7 point, down from last week when it averaged 4.29 percent. A year ago at this time, the 15-year FRM averaged 4.33 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.87 percent this week, with an average 0.6 point, down from last week when it averaged 3.92 percent. A year ago, the 5-year ARM averaged 4.12 percent.
  • 1-year Treasury-indexed ARM averaged 3.39 percent this week with an average 0.6 point, up from last week when it averaged 3.35 percent. At this time last year, the 1-year ARM averaged 4.23 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Fixed mortgage rates eased slightly this week and continue to be very affordable. Prior to 2009, interest rates for 30-year fixed-rate mortgages had never been at 5 percent since our survey began in April 1971. In both 1981 and 1982, the rates were over three times as high as they are today.”

And…

“The housing market is struggling to regain traction despite still historically low rates. New construction on one-family homes dipped slightly in January to an annualized pace of 413,000 units, which was the fewest number since May 2009. In addition, homebuilder confidence didn’t improve for the third consecutive month in February and remains near record lows, according the NAHB/Wells Fargo Housing Market Index.”

30-Year Fixed Rate Mortgages
  US NE SE NC SW W
Average 5.00 5.04 4.95 5.04 5.04 4.96
Fees & Points 0.7 0.7 0.9 0.6 0.6 0.8

15-Year Fixed Rate Mortgages
  US NE SE NC SW W
Average 4.27 4.30 4.23 4.30 4.32 4.21
Fees & Points 0.7 0.7 0.9 0.5 0.6 0.8

5/1-Year Adjustable Rate Mortgages
  US NE SE NC SW W
Average 3.87 3.96 3.77 3.99 3.84 3.76
Fees & Points 0.6 0.7 0.8 0.4 0.6 0.7
Margin 2.75 2.78 2.75 2.72 2.77 2.74

1-Year Adjustable Rate Mortgages
  US NE SE NC SW W
Average 3.39 3.53 3.19 3.71 3.38 3.18
Fees & Points 0.6 0.6 0.7 0.3 0.8 0.7
Margin 2.76 2.79 2.75 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 4.93   4.33   4.12   4.23   5.05   4.29   3.92   3.35  
Fees & Points 0.7   0.6   0.5   0.6   0.7   0.7   0.6   0.6  
Margin N/A N/A 2.74   2.75   N/A N/A 2.75   2.76  

Tags: 15 year fixed, 30 year fixed, fixed rate mortgage, freddie mac, interest rates, mortgage rates

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Helpful Tools
Mortgage
Calculator

Estimate your monthly mortgage payment
Auto Loan
Calculator

Determine how much car you can afford before buying
Learn About
Mortgage Loans

Learn about the different types of home loans
15 Year vs 30 Year
Loan Comparison

Compare 15 year and 30 year mortgage loans
Todays Mortgage
Rates

See today's mortgage rates. Shop, compare and save.

February 17, 2011 (Chris Moore)
mortgages-arrow-down-image
Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), which shows a drop in long-term fixed rates this week. Fixed rate mortgage loan rates are generally at about the same level they were a year ago, but adjustable rate mortgage (ARM) loan rates are slightly lower.

  • 30-year fixed-rate mortgage (FRM) averaged 5.0 percent with an average 0.7 point for the week ending February 17, 2011, down from last week when it averaged 5.05 percent. Last year at this time, the 30-year FRM averaged 4.93 percent.
  • 15-year FRM this week averaged 4.27 percent with an average 0.7 point, down from last week when it averaged 4.29 percent. A year ago at this time, the 15-year FRM averaged 4.33 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.87 percent this week, with an average 0.6 point, down from last week when it averaged 3.92 percent. A year ago, the 5-year ARM averaged 4.12 percent.
  • 1-year Treasury-indexed ARM averaged 3.39 percent this week with an average 0.6 point, up from last week when it averaged 3.35 percent. At this time last year, the 1-year ARM averaged 4.23 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Fixed mortgage rates eased slightly this week and continue to be very affordable. Prior to 2009, interest rates for 30-year fixed-rate mortgages had never been at 5 percent since our survey began in April 1971. In both 1981 and 1982, the rates were over three times as high as they are today.”

And…

“The housing market is struggling to regain traction despite still historically low rates. New construction on one-family homes dipped slightly in January to an annualized pace of 413,000 units, which was the fewest number since May 2009. In addition, homebuilder confidence didn’t improve for the third consecutive month in February and remains near record lows, according the NAHB/Wells Fargo Housing Market Index.”

30-Year Fixed Rate Mortgages
  US NE SE NC SW W
Average 5.00 5.04 4.95 5.04 5.04 4.96
Fees & Points 0.7 0.7 0.9 0.6 0.6 0.8

15-Year Fixed Rate Mortgages
  US NE SE NC SW W
Average 4.27 4.30 4.23 4.30 4.32 4.21
Fees & Points 0.7 0.7 0.9 0.5 0.6 0.8

5/1-Year Adjustable Rate Mortgages
  US NE SE NC SW W
Average 3.87 3.96 3.77 3.99 3.84 3.76
Fees & Points 0.6 0.7 0.8 0.4 0.6 0.7
Margin 2.75 2.78 2.75 2.72 2.77 2.74

1-Year Adjustable Rate Mortgages
  US NE SE NC SW W
Average 3.39 3.53 3.19 3.71 3.38 3.18
Fees & Points 0.6 0.6 0.7 0.3 0.8 0.7
Margin 2.76 2.79 2.75 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 4.93   4.33   4.12   4.23   5.05   4.29   3.92   3.35  
Fees & Points 0.7   0.6   0.5   0.6   0.7   0.7   0.6   0.6  
Margin N/A N/A 2.74   2.75   N/A N/A 2.75   2.76  

Tags: 15 year fixed, 30 year fixed, fixed rate mortgage, freddie mac, interest rates, mortgage rates

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

February 17, 2011 (Chris Moore)
mortgages-arrow-down-image
Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), which shows a drop in long-term fixed rates this week. Fixed rate mortgage loan rates are generally at about the same level they were a year ago, but adjustable rate mortgage (ARM) loan rates are slightly lower.

  • 30-year fixed-rate mortgage (FRM) averaged 5.0 percent with an average 0.7 point for the week ending February 17, 2011, down from last week when it averaged 5.05 percent. Last year at this time, the 30-year FRM averaged 4.93 percent.
  • 15-year FRM this week averaged 4.27 percent with an average 0.7 point, down from last week when it averaged 4.29 percent. A year ago at this time, the 15-year FRM averaged 4.33 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.87 percent this week, with an average 0.6 point, down from last week when it averaged 3.92 percent. A year ago, the 5-year ARM averaged 4.12 percent.
  • 1-year Treasury-indexed ARM averaged 3.39 percent this week with an average 0.6 point, up from last week when it averaged 3.35 percent. At this time last year, the 1-year ARM averaged 4.23 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Fixed mortgage rates eased slightly this week and continue to be very affordable. Prior to 2009, interest rates for 30-year fixed-rate mortgages had never been at 5 percent since our survey began in April 1971. In both 1981 and 1982, the rates were over three times as high as they are today.”

And…

“The housing market is struggling to regain traction despite still historically low rates. New construction on one-family homes dipped slightly in January to an annualized pace of 413,000 units, which was the fewest number since May 2009. In addition, homebuilder confidence didn’t improve for the third consecutive month in February and remains near record lows, according the NAHB/Wells Fargo Housing Market Index.”

30-Year Fixed Rate Mortgages
  US NE SE NC SW W
Average 5.00 5.04 4.95 5.04 5.04 4.96
Fees & Points 0.7 0.7 0.9 0.6 0.6 0.8

15-Year Fixed Rate Mortgages
  US NE SE NC SW W
Average 4.27 4.30 4.23 4.30 4.32 4.21
Fees & Points 0.7 0.7 0.9 0.5 0.6 0.8

5/1-Year Adjustable Rate Mortgages
  US NE SE NC SW W
Average 3.87 3.96 3.77 3.99 3.84 3.76
Fees & Points 0.6 0.7 0.8 0.4 0.6 0.7
Margin 2.75 2.78 2.75 2.72 2.77 2.74

1-Year Adjustable Rate Mortgages
  US NE SE NC SW W
Average 3.39 3.53 3.19 3.71 3.38 3.18
Fees & Points 0.6 0.6 0.7 0.3 0.8 0.7
Margin 2.76 2.79 2.75 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 4.93   4.33   4.12   4.23   5.05   4.29   3.92   3.35  
Fees & Points 0.7   0.6   0.5   0.6   0.7   0.7   0.6   0.6  
Margin N/A N/A 2.74   2.75   N/A N/A 2.75   2.76  

Tags: 15 year fixed, 30 year fixed, fixed rate mortgage, freddie mac, interest rates, mortgage rates

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.