Mortgage Rates Jump to Two Year High
Mortgage Rates Jump to Two Year High
Mortgage Rates Jump to Two Year High
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Mortgage interest rates jumped to their highest levels in nearly two years with fixed rate mortgages rising nearly half a percent last week according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending June 27th, 2013.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages increased by nearly half of a percent with the 30-year fixed rate mortgage increasing fifty-three basis points to 4.46 percent with an average of 0.8 points after declining by five basis points last week. It was the first time in 66 weeks that 30-year mortgage rates have rose above four percent. Mortgage rates have increased by 111 basis points over the last eight weeks and are at their highest level since July 2011. A year ago, the 30-year fixed rate mortgage averaged 3.66 percent.

Average 30-year fixed rates were generally the lowest in the Southeastern portion of the United States where mortgage rates averaged 4.43 percent while the highest rates were reported in the North Central and Southwestern areas of the country where interest rates averaged 4.49 percent.

The average rate for a 15-year fixed mortgage also increased this week, averaging 3.50 percent with an average of 0.8 points, up from an average of 3.04 percent last week. At this time last year, the 15-year fixed rate mortgage averaged 2.94 percent.

Adjustable Rate Mortgages:

Interest rates for adjustable-rate mortgages also trended higher this week with the 5-year Treasury-indexed hybrid ARM averaging 3.08 percent, with an average of 0.7 points, up from an average of 2.79 percent last week. The 5-year adjustable rate mortgage averaged 2.79 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage averaged 2.66 percent with an average of 0.5 points, up from an average of 2.57 last week. A year ago, the 1-year adjustable rate mortgage averaged 2.74 percent.

Freddie Mac PMMS 06-28-13

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

Reported by Shirley Allen

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Mortgage interest rates jumped to their highest levels in nearly two years with fixed rate mortgages rising nearly half a percent last week according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending June 27th, 2013.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages increased by nearly half of a percent with the 30-year fixed rate mortgage increasing fifty-three basis points to 4.46 percent with an average of 0.8 points after declining by five basis points last week. It was the first time in 66 weeks that 30-year mortgage rates have rose above four percent. Mortgage rates have increased by 111 basis points over the last eight weeks and are at their highest level since July 2011. A year ago, the 30-year fixed rate mortgage averaged 3.66 percent.

Average 30-year fixed rates were generally the lowest in the Southeastern portion of the United States where mortgage rates averaged 4.43 percent while the highest rates were reported in the North Central and Southwestern areas of the country where interest rates averaged 4.49 percent.

The average rate for a 15-year fixed mortgage also increased this week, averaging 3.50 percent with an average of 0.8 points, up from an average of 3.04 percent last week. At this time last year, the 15-year fixed rate mortgage averaged 2.94 percent.

Adjustable Rate Mortgages:

Interest rates for adjustable-rate mortgages also trended higher this week with the 5-year Treasury-indexed hybrid ARM averaging 3.08 percent, with an average of 0.7 points, up from an average of 2.79 percent last week. The 5-year adjustable rate mortgage averaged 2.79 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage averaged 2.66 percent with an average of 0.5 points, up from an average of 2.57 last week. A year ago, the 1-year adjustable rate mortgage averaged 2.74 percent.

Freddie Mac PMMS 06-28-13

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

Reported by Shirley Allen

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.
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Mortgage interest rates jumped to their highest levels in nearly two years with fixed rate mortgages rising nearly half a percent last week according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending June 27th, 2013.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages increased by nearly half of a percent with the 30-year fixed rate mortgage increasing fifty-three basis points to 4.46 percent with an average of 0.8 points after declining by five basis points last week. It was the first time in 66 weeks that 30-year mortgage rates have rose above four percent. Mortgage rates have increased by 111 basis points over the last eight weeks and are at their highest level since July 2011. A year ago, the 30-year fixed rate mortgage averaged 3.66 percent.

Average 30-year fixed rates were generally the lowest in the Southeastern portion of the United States where mortgage rates averaged 4.43 percent while the highest rates were reported in the North Central and Southwestern areas of the country where interest rates averaged 4.49 percent.

The average rate for a 15-year fixed mortgage also increased this week, averaging 3.50 percent with an average of 0.8 points, up from an average of 3.04 percent last week. At this time last year, the 15-year fixed rate mortgage averaged 2.94 percent.

Adjustable Rate Mortgages:

Interest rates for adjustable-rate mortgages also trended higher this week with the 5-year Treasury-indexed hybrid ARM averaging 3.08 percent, with an average of 0.7 points, up from an average of 2.79 percent last week. The 5-year adjustable rate mortgage averaged 2.79 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage averaged 2.66 percent with an average of 0.5 points, up from an average of 2.57 last week. A year ago, the 1-year adjustable rate mortgage averaged 2.74 percent.

Freddie Mac PMMS 06-28-13

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

Reported by Shirley Allen

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.