Mortgage Interest Rates Fall to 2011 Lows
Mortgage Interest Rates Fall to 2011 Lows
Mortgage Interest Rates Fall to 2011 Lows
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September 7, 2011 (Shirley Allen)

Last weeks market turmoil and poor jobs report pushed Treasury yields back under two percent and mortgage rates followed right behind as average interest rates over the last week reached now lows for 2011 according to the data collected by LendingTree’s Weekly Mortgage Rate Pulse.

Fixed Rate Mortgages (FRM) as of September 6, 2011:

The average home loan rates offered for 30 year FRMs was 4.29 percent (4.54% APR), which was down from 4.39 percent the previous week.

The lowest mortgage rate offered for a 30 year FRM was 3.75 percent (3.88% APR), which was unchanged from the rate offered the week before.

The average home loan rates offered for 15 year FRMs was 3.53 percent (3.90% APR), down from 3.63 percent reported the previous week

The lowest mortgage rate offered for a 15 year FRM was 2.875 percent (3.11% APR), which also remained unchanged from the week before.

Adjustable Rate Mortgages (ARM) as of September 6, 2011:

The average home loan rate offered for 5/1 adjustable rate mortgages (ARM) was 3.38 percent (3.63% APR), which was down from 3.41 percent reported last week.

The lowest mortgage rate offered for a 5/1 ARM was 2.5 percent (3.04% APR), which was unchanged from the week before.

See how your state compares below by comparing mortgage data including a snapshot of the lowest 30-year fixed rates offered by lenders, average loan-to-value ratio and percentage of consumers with negative equity:

STATE-BY-STATE MORTGAGE DATA 9/7/11

*Updated Quarterly

STATE

LOWEST MORTGAGE RATE

LOAN-TO-VALUE RATIO*

NEGATIVE EQUITY*

US Average

3.75% (3.88% APR)

69.8%

33.5%

Alabama

3.75% (3.88% APR)

68.0%

29.5%

Alaska

3.88% (4.00% APR)

65.8%

19.5%

Arizona

3.75% (3.88% APR)

93.1%

38.9%

Arkansas

3.88% (3.99% APR)

72.3%

43.0%

California

3.88% (4.00% APR)

70.0%

34.4%

Colorado

3.88% (4.04% APR)

72.3%

22.9%

Connecticut

3.75% (3.87% APR)

60.2%

43.4%

Delaware

3.75% (3.84% APR)

67.3%

38.8%

District of Columbia

3.75% (3.88% APR)

58.6%

26.8%

Florida

3.75% (3.88% APR)

87.8%

38.9%

Georgia

3.75% (3.88% APR)

80.9%

26.5%

Hawaii

3.88% (4.00% APR)

53.9%

27.0%

Idaho

3.88% (4.00% APR)

71.7%

30.3%

Illinois

3.88% (4.00% APR)

72.4%

32.3%

Indiana

3.88% (3.97% APR)

69.4%

28.4%

Iowa

4.38% (4.51% APR)

67.3%

44.2%

Kansas

4.38% (4.51% APR)

70.3%

32.2%

Kentucky

3.75% (3.88% APR)

67.9%

52.7%

Louisiana

4.38% (4.51% APR)

75.2%

82.4%

Maine

3.88% (3.99% APR)

58.3%

30.7%

Maryland

3.75% (3.88% APR)

70.3%

25.9%

Massachusetts

3.88% (4.00% APR)

61.9%

47.0%

Michigan

3.88% (4.00% APR)

84.0%

33.4%

Minnesota

3.88% (4.00% APR)

66.8%

22.7%

Mississippi

4.38% (4.51% APR)

78.2%

29.2%

Missouri

3.88% (4.00% APR)

71.9%

32.4%

Montana

4.38% (4.51% APR)

60.3%

33.9%

Nebraska

4.38% (4.51% APR)

73.4%

44.7%

Nevada

3.88% (4.00% APR)

112.7%

53.7%

New Hampshire

3.88% (3.99% APR)

70.3%

26.2%

New Jersey

3.75% (3.84% APR)

62.8%

29.9%

New Mexico

3.88% (4.00% APR)

67.9%

45.9%

New York

3.88% (3.98% APR)

48.7%

36.0%

North Carolina

3.75% (3.88% APR)

71.6%

32.4%

North Dakota

4.38% (4.51% APR)

61.1%

36.3%

Ohio

3.88% (4.00% APR)

75.8%

27.5%

Oklahoma

3.88% (3.99% APR)

71.8%

50.6%

Oregon

3.88% (4.03% APR)

69.8%

19.9%

Pennsylvania

3.75% (3.84% APR)

61.1%

42.0%

Rhode Island

4.38% (4.51% APR)

63.7%

38.7%

South Carolina

3.88% (4.00% APR)

71.5%

28.9%

South Dakota

3.88% (3.99% APR)

N/A

N/A

Tennessee

3.88% (4.00% APR)

71.6%

29.9%

Texas

3.88% (4.01% APR)

68.1%

31.6%

Utah

3.88% (4.00% APR)

72.9%

22.8%

Vermont

4.38% (4.51% APR)

N/A

N/A

Virginia

3.75% (3.98% APR)

71.7%

25.1%

Washington

3.88% (4.00% APR)

68.3%

21.7%

West Virginia

4.38% (4.51% APR)

66.8%

50.6%

Wisconsin

4.38% (4.51% APR)

69.1%

36.0%

Wyoming

3.88% (4.01% APR)

63.1%

24.2%

Lowest mortgage interest rates shown reflect the payment of one discount point. Mortgage interest rates will vary based on the borrower’s loan details and credit profile.

Source:

Tags: lendingtree, mortgage rates, mortgage loans, average home rates, 30 year fixed, 15 year fixed, 5/1 arm, adjustable rate mortgage, fixed mortgage, lenders

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
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FAST & EASY. DATA ENCRYPTED
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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
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.

September 7, 2011 (Shirley Allen)

Last weeks market turmoil and poor jobs report pushed Treasury yields back under two percent and mortgage rates followed right behind as average interest rates over the last week reached now lows for 2011 according to the data collected by LendingTree’s Weekly Mortgage Rate Pulse.

Fixed Rate Mortgages (FRM) as of September 6, 2011:

The average home loan rates offered for 30 year FRMs was 4.29 percent (4.54% APR), which was down from 4.39 percent the previous week.

The lowest mortgage rate offered for a 30 year FRM was 3.75 percent (3.88% APR), which was unchanged from the rate offered the week before.

The average home loan rates offered for 15 year FRMs was 3.53 percent (3.90% APR), down from 3.63 percent reported the previous week

The lowest mortgage rate offered for a 15 year FRM was 2.875 percent (3.11% APR), which also remained unchanged from the week before.

Adjustable Rate Mortgages (ARM) as of September 6, 2011:

The average home loan rate offered for 5/1 adjustable rate mortgages (ARM) was 3.38 percent (3.63% APR), which was down from 3.41 percent reported last week.

The lowest mortgage rate offered for a 5/1 ARM was 2.5 percent (3.04% APR), which was unchanged from the week before.

See how your state compares below by comparing mortgage data including a snapshot of the lowest 30-year fixed rates offered by lenders, average loan-to-value ratio and percentage of consumers with negative equity:

STATE-BY-STATE MORTGAGE DATA 9/7/11

*Updated Quarterly

STATE

LOWEST MORTGAGE RATE

LOAN-TO-VALUE RATIO*

NEGATIVE EQUITY*

US Average

3.75% (3.88% APR)

69.8%

33.5%

Alabama

3.75% (3.88% APR)

68.0%

29.5%

Alaska

3.88% (4.00% APR)

65.8%

19.5%

Arizona

3.75% (3.88% APR)

93.1%

38.9%

Arkansas

3.88% (3.99% APR)

72.3%

43.0%

California

3.88% (4.00% APR)

70.0%

34.4%

Colorado

3.88% (4.04% APR)

72.3%

22.9%

Connecticut

3.75% (3.87% APR)

60.2%

43.4%

Delaware

3.75% (3.84% APR)

67.3%

38.8%

District of Columbia

3.75% (3.88% APR)

58.6%

26.8%

Florida

3.75% (3.88% APR)

87.8%

38.9%

Georgia

3.75% (3.88% APR)

80.9%

26.5%

Hawaii

3.88% (4.00% APR)

53.9%

27.0%

Idaho

3.88% (4.00% APR)

71.7%

30.3%

Illinois

3.88% (4.00% APR)

72.4%

32.3%

Indiana

3.88% (3.97% APR)

69.4%

28.4%

Iowa

4.38% (4.51% APR)

67.3%

44.2%

Kansas

4.38% (4.51% APR)

70.3%

32.2%

Kentucky

3.75% (3.88% APR)

67.9%

52.7%

Louisiana

4.38% (4.51% APR)

75.2%

82.4%

Maine

3.88% (3.99% APR)

58.3%

30.7%

Maryland

3.75% (3.88% APR)

70.3%

25.9%

Massachusetts

3.88% (4.00% APR)

61.9%

47.0%

Michigan

3.88% (4.00% APR)

84.0%

33.4%

Minnesota

3.88% (4.00% APR)

66.8%

22.7%

Mississippi

4.38% (4.51% APR)

78.2%

29.2%

Missouri

3.88% (4.00% APR)

71.9%

32.4%

Montana

4.38% (4.51% APR)

60.3%

33.9%

Nebraska

4.38% (4.51% APR)

73.4%

44.7%

Nevada

3.88% (4.00% APR)

112.7%

53.7%

New Hampshire

3.88% (3.99% APR)

70.3%

26.2%

New Jersey

3.75% (3.84% APR)

62.8%

29.9%

New Mexico

3.88% (4.00% APR)

67.9%

45.9%

New York

3.88% (3.98% APR)

48.7%

36.0%

North Carolina

3.75% (3.88% APR)

71.6%

32.4%

North Dakota

4.38% (4.51% APR)

61.1%

36.3%

Ohio

3.88% (4.00% APR)

75.8%

27.5%

Oklahoma

3.88% (3.99% APR)

71.8%

50.6%

Oregon

3.88% (4.03% APR)

69.8%

19.9%

Pennsylvania

3.75% (3.84% APR)

61.1%

42.0%

Rhode Island

4.38% (4.51% APR)

63.7%

38.7%

South Carolina

3.88% (4.00% APR)

71.5%

28.9%

South Dakota

3.88% (3.99% APR)

N/A

N/A

Tennessee

3.88% (4.00% APR)

71.6%

29.9%

Texas

3.88% (4.01% APR)

68.1%

31.6%

Utah

3.88% (4.00% APR)

72.9%

22.8%

Vermont

4.38% (4.51% APR)

N/A

N/A

Virginia

3.75% (3.98% APR)

71.7%

25.1%

Washington

3.88% (4.00% APR)

68.3%

21.7%

West Virginia

4.38% (4.51% APR)

66.8%

50.6%

Wisconsin

4.38% (4.51% APR)

69.1%

36.0%

Wyoming

3.88% (4.01% APR)

63.1%

24.2%

Lowest mortgage interest rates shown reflect the payment of one discount point. Mortgage interest rates will vary based on the borrower’s loan details and credit profile.

Source:

Tags: lendingtree, mortgage rates, mortgage loans, average home rates, 30 year fixed, 15 year fixed, 5/1 arm, adjustable rate mortgage, fixed mortgage, lenders

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

September 7, 2011 (Shirley Allen)

Last weeks market turmoil and poor jobs report pushed Treasury yields back under two percent and mortgage rates followed right behind as average interest rates over the last week reached now lows for 2011 according to the data collected by LendingTree’s Weekly Mortgage Rate Pulse.

Fixed Rate Mortgages (FRM) as of September 6, 2011:

The average home loan rates offered for 30 year FRMs was 4.29 percent (4.54% APR), which was down from 4.39 percent the previous week.

The lowest mortgage rate offered for a 30 year FRM was 3.75 percent (3.88% APR), which was unchanged from the rate offered the week before.

The average home loan rates offered for 15 year FRMs was 3.53 percent (3.90% APR), down from 3.63 percent reported the previous week

The lowest mortgage rate offered for a 15 year FRM was 2.875 percent (3.11% APR), which also remained unchanged from the week before.

Adjustable Rate Mortgages (ARM) as of September 6, 2011:

The average home loan rate offered for 5/1 adjustable rate mortgages (ARM) was 3.38 percent (3.63% APR), which was down from 3.41 percent reported last week.

The lowest mortgage rate offered for a 5/1 ARM was 2.5 percent (3.04% APR), which was unchanged from the week before.

See how your state compares below by comparing mortgage data including a snapshot of the lowest 30-year fixed rates offered by lenders, average loan-to-value ratio and percentage of consumers with negative equity:

STATE-BY-STATE MORTGAGE DATA 9/7/11

*Updated Quarterly

STATE

LOWEST MORTGAGE RATE

LOAN-TO-VALUE RATIO*

NEGATIVE EQUITY*

US Average

3.75% (3.88% APR)

69.8%

33.5%

Alabama

3.75% (3.88% APR)

68.0%

29.5%

Alaska

3.88% (4.00% APR)

65.8%

19.5%

Arizona

3.75% (3.88% APR)

93.1%

38.9%

Arkansas

3.88% (3.99% APR)

72.3%

43.0%

California

3.88% (4.00% APR)

70.0%

34.4%

Colorado

3.88% (4.04% APR)

72.3%

22.9%

Connecticut

3.75% (3.87% APR)

60.2%

43.4%

Delaware

3.75% (3.84% APR)

67.3%

38.8%

District of Columbia

3.75% (3.88% APR)

58.6%

26.8%

Florida

3.75% (3.88% APR)

87.8%

38.9%

Georgia

3.75% (3.88% APR)

80.9%

26.5%

Hawaii

3.88% (4.00% APR)

53.9%

27.0%

Idaho

3.88% (4.00% APR)

71.7%

30.3%

Illinois

3.88% (4.00% APR)

72.4%

32.3%

Indiana

3.88% (3.97% APR)

69.4%

28.4%

Iowa

4.38% (4.51% APR)

67.3%

44.2%

Kansas

4.38% (4.51% APR)

70.3%

32.2%

Kentucky

3.75% (3.88% APR)

67.9%

52.7%

Louisiana

4.38% (4.51% APR)

75.2%

82.4%

Maine

3.88% (3.99% APR)

58.3%

30.7%

Maryland

3.75% (3.88% APR)

70.3%

25.9%

Massachusetts

3.88% (4.00% APR)

61.9%

47.0%

Michigan

3.88% (4.00% APR)

84.0%

33.4%

Minnesota

3.88% (4.00% APR)

66.8%

22.7%

Mississippi

4.38% (4.51% APR)

78.2%

29.2%

Missouri

3.88% (4.00% APR)

71.9%

32.4%

Montana

4.38% (4.51% APR)

60.3%

33.9%

Nebraska

4.38% (4.51% APR)

73.4%

44.7%

Nevada

3.88% (4.00% APR)

112.7%

53.7%

New Hampshire

3.88% (3.99% APR)

70.3%

26.2%

New Jersey

3.75% (3.84% APR)

62.8%

29.9%

New Mexico

3.88% (4.00% APR)

67.9%

45.9%

New York

3.88% (3.98% APR)

48.7%

36.0%

North Carolina

3.75% (3.88% APR)

71.6%

32.4%

North Dakota

4.38% (4.51% APR)

61.1%

36.3%

Ohio

3.88% (4.00% APR)

75.8%

27.5%

Oklahoma

3.88% (3.99% APR)

71.8%

50.6%

Oregon

3.88% (4.03% APR)

69.8%

19.9%

Pennsylvania

3.75% (3.84% APR)

61.1%

42.0%

Rhode Island

4.38% (4.51% APR)

63.7%

38.7%

South Carolina

3.88% (4.00% APR)

71.5%

28.9%

South Dakota

3.88% (3.99% APR)

N/A

N/A

Tennessee

3.88% (4.00% APR)

71.6%

29.9%

Texas

3.88% (4.01% APR)

68.1%

31.6%

Utah

3.88% (4.00% APR)

72.9%

22.8%

Vermont

4.38% (4.51% APR)

N/A

N/A

Virginia

3.75% (3.98% APR)

71.7%

25.1%

Washington

3.88% (4.00% APR)

68.3%

21.7%

West Virginia

4.38% (4.51% APR)

66.8%

50.6%

Wisconsin

4.38% (4.51% APR)

69.1%

36.0%

Wyoming

3.88% (4.01% APR)

63.1%

24.2%

Lowest mortgage interest rates shown reflect the payment of one discount point. Mortgage interest rates will vary based on the borrower’s loan details and credit profile.

Source:

Tags: lendingtree, mortgage rates, mortgage loans, average home rates, 30 year fixed, 15 year fixed, 5/1 arm, adjustable rate mortgage, fixed mortgage, lenders

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.