More Good News for Mortgage Rate Shoppers
More Good News for Mortgage Rate Shoppers
More Good News for Mortgage Rate Shoppers
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July 20, 2012 (Shirley Allen)

Weak economic news continued to fuel declining mortgage interest rates as rates on 30-year and 15-year fixed rate mortgages and the 5-year Treasury-indexed hybrid ARM all fell to new lows this week according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending July 19th.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages declined to new record lows again this week, with the 30-year fixed rate averaging 3.53 percent with an average of 0.7 points, down from 3.56 the previous week. It was the 17th consecutive week that mortgage rates have been under 4.00 percent. A year ago, the 30-year fixed rate mortgage averaged 4.52 percent.

The 15-year fixed rate mortgage also set a new record low average of 2.83 percent with an average of 0.6 points, down from last week’s average of 2.86 percent. Mortgage rates for the 15-year fixed mortgage have been under 3.00 percent for eight consecutive weeks. At this time last year, the 15-year fixed rate mortgage averaged 3.66 percent.

Adjustable Rate Mortgages:

Interest rates for the 5-year Treasury-indexed hybrid ARM set a new record low, averaging 2.69 percent, with an average of 0.6 points, down from 2.74 percent the previous week. The 5-year adjustable rate mortgage averaged 3.27 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage averaged 2.69 percent with an average of 0.4 points, unchanged from last week’s average. A year ago, the 1-year adjustable rate mortgage averaged 2.97 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “With little signs of inflation and the Federal Reserve’s “Operation Twist” keeping U.S. Treasury bond yields in check, fixed mortgage rates are remaining low and helping to stir the housing market. For instance, the 12-month growth rate in the core Consumer Price Index has been in a narrow 2.1 to 2.3 percent band over the past nine months ending in June. Meanwhile, new construction on one-family homes rose for the fourth consecutive month in June to its strongest pace since April 2010 with builders restocking their lean inventories of new homes. In fact, homebuilder confidence for the next six months rose for the third month in a row in July to its highest reading since March 2007.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.53 3.56 3.58 3.52 3.56 3.49
Fees & Points 0.7 0.7 0.7 0.7 0.7 0.7

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 2.83 2.84 2.86 2.83 2.86 2.80
Fees & Points 0.6 0.6 0.7 0.5 0.7 0.7

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.69 2.68 2.72 2.81 2.68 2.62
Fees & Points 0.6 0.6 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 2.69 2.75 2.67 2.66 2.73 2.66
Fees & Points 0.4 0.6 0.5 0.4 0.5 0.4
Margin 2.76 2.79 2.75 2.72 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 4.52   3.66   3.27   2.97   3.56   2.86   2.74   2.69  
Fees & Points 0.7   0.7   0.5   0.5   0.7   0.7   0.6   0.4  
Margin N/A N/A 2.74   2.76   N/A N/A 2.74   2.75

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
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Calculator

Estimate your monthly mortgage payment
Auto Loan
Calculator

Determine how much car you can afford before buying
Learn About
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15 Year vs 30 Year
Loan Comparison

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Todays Mortgage
Rates

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

July 20, 2012 (Shirley Allen)

Weak economic news continued to fuel declining mortgage interest rates as rates on 30-year and 15-year fixed rate mortgages and the 5-year Treasury-indexed hybrid ARM all fell to new lows this week according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending July 19th.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages declined to new record lows again this week, with the 30-year fixed rate averaging 3.53 percent with an average of 0.7 points, down from 3.56 the previous week. It was the 17th consecutive week that mortgage rates have been under 4.00 percent. A year ago, the 30-year fixed rate mortgage averaged 4.52 percent.

The 15-year fixed rate mortgage also set a new record low average of 2.83 percent with an average of 0.6 points, down from last week’s average of 2.86 percent. Mortgage rates for the 15-year fixed mortgage have been under 3.00 percent for eight consecutive weeks. At this time last year, the 15-year fixed rate mortgage averaged 3.66 percent.

Adjustable Rate Mortgages:

Interest rates for the 5-year Treasury-indexed hybrid ARM set a new record low, averaging 2.69 percent, with an average of 0.6 points, down from 2.74 percent the previous week. The 5-year adjustable rate mortgage averaged 3.27 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage averaged 2.69 percent with an average of 0.4 points, unchanged from last week’s average. A year ago, the 1-year adjustable rate mortgage averaged 2.97 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “With little signs of inflation and the Federal Reserve’s “Operation Twist” keeping U.S. Treasury bond yields in check, fixed mortgage rates are remaining low and helping to stir the housing market. For instance, the 12-month growth rate in the core Consumer Price Index has been in a narrow 2.1 to 2.3 percent band over the past nine months ending in June. Meanwhile, new construction on one-family homes rose for the fourth consecutive month in June to its strongest pace since April 2010 with builders restocking their lean inventories of new homes. In fact, homebuilder confidence for the next six months rose for the third month in a row in July to its highest reading since March 2007.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.53 3.56 3.58 3.52 3.56 3.49
Fees & Points 0.7 0.7 0.7 0.7 0.7 0.7

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 2.83 2.84 2.86 2.83 2.86 2.80
Fees & Points 0.6 0.6 0.7 0.5 0.7 0.7

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.69 2.68 2.72 2.81 2.68 2.62
Fees & Points 0.6 0.6 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 2.69 2.75 2.67 2.66 2.73 2.66
Fees & Points 0.4 0.6 0.5 0.4 0.5 0.4
Margin 2.76 2.79 2.75 2.72 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 4.52   3.66   3.27   2.97   3.56   2.86   2.74   2.69  
Fees & Points 0.7   0.7   0.5   0.5   0.7   0.7   0.6   0.4  
Margin N/A N/A 2.74   2.76   N/A N/A 2.74   2.75

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

July 20, 2012 (Shirley Allen)

Weak economic news continued to fuel declining mortgage interest rates as rates on 30-year and 15-year fixed rate mortgages and the 5-year Treasury-indexed hybrid ARM all fell to new lows this week according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending July 19th.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages declined to new record lows again this week, with the 30-year fixed rate averaging 3.53 percent with an average of 0.7 points, down from 3.56 the previous week. It was the 17th consecutive week that mortgage rates have been under 4.00 percent. A year ago, the 30-year fixed rate mortgage averaged 4.52 percent.

The 15-year fixed rate mortgage also set a new record low average of 2.83 percent with an average of 0.6 points, down from last week’s average of 2.86 percent. Mortgage rates for the 15-year fixed mortgage have been under 3.00 percent for eight consecutive weeks. At this time last year, the 15-year fixed rate mortgage averaged 3.66 percent.

Adjustable Rate Mortgages:

Interest rates for the 5-year Treasury-indexed hybrid ARM set a new record low, averaging 2.69 percent, with an average of 0.6 points, down from 2.74 percent the previous week. The 5-year adjustable rate mortgage averaged 3.27 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage averaged 2.69 percent with an average of 0.4 points, unchanged from last week’s average. A year ago, the 1-year adjustable rate mortgage averaged 2.97 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “With little signs of inflation and the Federal Reserve’s “Operation Twist” keeping U.S. Treasury bond yields in check, fixed mortgage rates are remaining low and helping to stir the housing market. For instance, the 12-month growth rate in the core Consumer Price Index has been in a narrow 2.1 to 2.3 percent band over the past nine months ending in June. Meanwhile, new construction on one-family homes rose for the fourth consecutive month in June to its strongest pace since April 2010 with builders restocking their lean inventories of new homes. In fact, homebuilder confidence for the next six months rose for the third month in a row in July to its highest reading since March 2007.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.53 3.56 3.58 3.52 3.56 3.49
Fees & Points 0.7 0.7 0.7 0.7 0.7 0.7

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 2.83 2.84 2.86 2.83 2.86 2.80
Fees & Points 0.6 0.6 0.7 0.5 0.7 0.7

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.69 2.68 2.72 2.81 2.68 2.62
Fees & Points 0.6 0.6 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 2.69 2.75 2.67 2.66 2.73 2.66
Fees & Points 0.4 0.6 0.5 0.4 0.5 0.4
Margin 2.76 2.79 2.75 2.72 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 4.52   3.66   3.27   2.97   3.56   2.86   2.74   2.69  
Fees & Points 0.7   0.7   0.5   0.5   0.7   0.7   0.6   0.4  
Margin N/A N/A 2.74   2.76   N/A N/A 2.74   2.75

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.