Freddie Mac: Strengthening Economy Raising Mortgage Rates
Freddie Mac: Strengthening Economy Raising Mortgage Rates
Freddie Mac: Strengthening Economy Raising Mortgage Rates
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January 27, 2011 (Chris Moore)
mortgages-freddie-mac-image
Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®) which shows long and short term rates rising this week primarily due to improving economic conditions.

  • 30-year fixed-rate mortgage (FRM) averaged 4.80 percent with an average 0.7 point for the week ending January 27, 2011, up from last week when it averaged 4.74 percent. Last year at this time, the 30-year FRM averaged 4.98 percent.
  • 15-year FRM this week averaged 4.09 percent with an average 0.7 point, up from last week when it averaged 4.05 percent. A year ago at this time, the 15-year FRM averaged 4.39 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.70 percent this week, with an average 0.7 point, up from last week when it averaged 3.69 percent. A year ago, the 5-year ARM averaged 4.25 percent.
  • 1-year Treasury-indexed ARM averaged 3.26 percent this week with an average 0.6 point, up from last week when it averaged 3.25 percent. At this time last year, the 1-year ARM averaged 4.29 percent.

Average commitment rates should be reported along with average fees and points to reflect the total cost of obtaining the mortgage.

Frank Nothaft, vice president and chief economist, Freddie Mac stated, “Mortgage rates followed bond yields a little higher this week amid positive data reports from The Conference Board that suggest the economy is strengthening. The index of leading indicators rose 1.0 percent in December, nearly twice that of the market consensus forecast and represented the sixth consecutive monthly increase, according to the Board. They also reported a stronger gain in consumer confidence for January, rising to an eight-month high. In addition, the share of households who said jobs were plentiful rose to the highest level since May 2009.

And…

“Consumer demand in the housing market is also showing some positive gains. Sales of existing homes rose in December to the strongest pace since May and sales of new homes jumped to the highest since April. At their current sales rate, the expected time on the market fell from 9.5 to 8.l months for existing houses and fell from 8.4 to 6.9 months for new homes.”

30-Year Fixed Rate Mortgages
  US NE SE NC SW W
Average 4.80 4.83 4.76 4.85 4.78 4.75
Fees & Points 0.7 0.6 0.8 0.6 0.7 0.8

15-Year Fixed Rate Mortgages
  US NE SE NC SW W
Average 4.09 4.16 4.03 4.13 4.13 4.03
Fees & Points 0.7 0.6 0.9 0.5 0.7 0.9

5/1-Year Adjustable Rate Mortgages
  US NE SE NC SW W
Average 3.70 3.82 3.46 3.93 3.66 3.59
Fees & Points 0.7 0.6 0.8 0.4 0.7 0.9
Margin 2.74 2.76 2.75 2.72 2.77 2.73

1-Year Adjustable Rate Mortgages
  US NE SE NC SW W
Average 3.26 3.50 3.08 3.47 3.43 2.94
Fees & Points 0.6 0.7 0.7 0.3 0.7 0.6
Margin 2.77 2.80 2.75 2.73 2.80 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 4.98   4.39   4.25   4.29   4.74   4.05   3.69   3.25  
Fees & Points 0.6   0.6   0.6   0.5   0.8   0.8   0.7   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

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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.

January 27, 2011 (Chris Moore)
mortgages-freddie-mac-image
Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®) which shows long and short term rates rising this week primarily due to improving economic conditions.

  • 30-year fixed-rate mortgage (FRM) averaged 4.80 percent with an average 0.7 point for the week ending January 27, 2011, up from last week when it averaged 4.74 percent. Last year at this time, the 30-year FRM averaged 4.98 percent.
  • 15-year FRM this week averaged 4.09 percent with an average 0.7 point, up from last week when it averaged 4.05 percent. A year ago at this time, the 15-year FRM averaged 4.39 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.70 percent this week, with an average 0.7 point, up from last week when it averaged 3.69 percent. A year ago, the 5-year ARM averaged 4.25 percent.
  • 1-year Treasury-indexed ARM averaged 3.26 percent this week with an average 0.6 point, up from last week when it averaged 3.25 percent. At this time last year, the 1-year ARM averaged 4.29 percent.

Average commitment rates should be reported along with average fees and points to reflect the total cost of obtaining the mortgage.

Frank Nothaft, vice president and chief economist, Freddie Mac stated, “Mortgage rates followed bond yields a little higher this week amid positive data reports from The Conference Board that suggest the economy is strengthening. The index of leading indicators rose 1.0 percent in December, nearly twice that of the market consensus forecast and represented the sixth consecutive monthly increase, according to the Board. They also reported a stronger gain in consumer confidence for January, rising to an eight-month high. In addition, the share of households who said jobs were plentiful rose to the highest level since May 2009.

And…

“Consumer demand in the housing market is also showing some positive gains. Sales of existing homes rose in December to the strongest pace since May and sales of new homes jumped to the highest since April. At their current sales rate, the expected time on the market fell from 9.5 to 8.l months for existing houses and fell from 8.4 to 6.9 months for new homes.”

30-Year Fixed Rate Mortgages
  US NE SE NC SW W
Average 4.80 4.83 4.76 4.85 4.78 4.75
Fees & Points 0.7 0.6 0.8 0.6 0.7 0.8

15-Year Fixed Rate Mortgages
  US NE SE NC SW W
Average 4.09 4.16 4.03 4.13 4.13 4.03
Fees & Points 0.7 0.6 0.9 0.5 0.7 0.9

5/1-Year Adjustable Rate Mortgages
  US NE SE NC SW W
Average 3.70 3.82 3.46 3.93 3.66 3.59
Fees & Points 0.7 0.6 0.8 0.4 0.7 0.9
Margin 2.74 2.76 2.75 2.72 2.77 2.73

1-Year Adjustable Rate Mortgages
  US NE SE NC SW W
Average 3.26 3.50 3.08 3.47 3.43 2.94
Fees & Points 0.6 0.7 0.7 0.3 0.7 0.6
Margin 2.77 2.80 2.75 2.73 2.80 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 4.98   4.39   4.25   4.29   4.74   4.05   3.69   3.25  
Fees & Points 0.6   0.6   0.6   0.5   0.8   0.8   0.7   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

January 27, 2011 (Chris Moore)
mortgages-freddie-mac-image
Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®) which shows long and short term rates rising this week primarily due to improving economic conditions.

  • 30-year fixed-rate mortgage (FRM) averaged 4.80 percent with an average 0.7 point for the week ending January 27, 2011, up from last week when it averaged 4.74 percent. Last year at this time, the 30-year FRM averaged 4.98 percent.
  • 15-year FRM this week averaged 4.09 percent with an average 0.7 point, up from last week when it averaged 4.05 percent. A year ago at this time, the 15-year FRM averaged 4.39 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.70 percent this week, with an average 0.7 point, up from last week when it averaged 3.69 percent. A year ago, the 5-year ARM averaged 4.25 percent.
  • 1-year Treasury-indexed ARM averaged 3.26 percent this week with an average 0.6 point, up from last week when it averaged 3.25 percent. At this time last year, the 1-year ARM averaged 4.29 percent.

Average commitment rates should be reported along with average fees and points to reflect the total cost of obtaining the mortgage.

Frank Nothaft, vice president and chief economist, Freddie Mac stated, “Mortgage rates followed bond yields a little higher this week amid positive data reports from The Conference Board that suggest the economy is strengthening. The index of leading indicators rose 1.0 percent in December, nearly twice that of the market consensus forecast and represented the sixth consecutive monthly increase, according to the Board. They also reported a stronger gain in consumer confidence for January, rising to an eight-month high. In addition, the share of households who said jobs were plentiful rose to the highest level since May 2009.

And…

“Consumer demand in the housing market is also showing some positive gains. Sales of existing homes rose in December to the strongest pace since May and sales of new homes jumped to the highest since April. At their current sales rate, the expected time on the market fell from 9.5 to 8.l months for existing houses and fell from 8.4 to 6.9 months for new homes.”

30-Year Fixed Rate Mortgages
  US NE SE NC SW W
Average 4.80 4.83 4.76 4.85 4.78 4.75
Fees & Points 0.7 0.6 0.8 0.6 0.7 0.8

15-Year Fixed Rate Mortgages
  US NE SE NC SW W
Average 4.09 4.16 4.03 4.13 4.13 4.03
Fees & Points 0.7 0.6 0.9 0.5 0.7 0.9

5/1-Year Adjustable Rate Mortgages
  US NE SE NC SW W
Average 3.70 3.82 3.46 3.93 3.66 3.59
Fees & Points 0.7 0.6 0.8 0.4 0.7 0.9
Margin 2.74 2.76 2.75 2.72 2.77 2.73

1-Year Adjustable Rate Mortgages
  US NE SE NC SW W
Average 3.26 3.50 3.08 3.47 3.43 2.94
Fees & Points 0.6 0.7 0.7 0.3 0.7 0.6
Margin 2.77 2.80 2.75 2.73 2.80 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 4.98   4.39   4.25   4.29   4.74   4.05   3.69   3.25  
Fees & Points 0.6   0.6   0.6   0.5   0.8   0.8   0.7   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.