Mortgage Rates Resume Their Slide
Mortgage Rates Resume Their Slide
Mortgage Rates Resume Their Slide
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June 22, 2012 (Shirley Allen)

Worsening economic news from home and abroad kept Treasury bonds near their all-time lows which resulted in mortgage interest rates falling across the board in the last week according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending June 21st.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages declined last week with the 30-year fixed rate averaging 3.65 percent with an average of 0.7 points, down from last week’s average of 3.71 percent. A year ago, the 30-year fixed rate mortgage averaged 4.50 percent.

The 15-year fixed rate mortgage fell to 2.95 percent with an average of 0.6 points, down from last week’s average of 2.98 percent. At this time last year, the 15-year fixed rate mortgage averaged 3.69 percent.

Adjustable Rate Mortgages:

Interest rates for adjustable mortgages also fell last week with the 5-year Treasury-indexed hybrid ARM averaging 2.77 percent, with an average of 0.6 points, down from last week’s average of 2.80 percent. The 5-year adjustable rate mortgage averaged 3.25 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage averaged 2.74 percent with an average of 0.5 points, down from last week’s average of 2.78 percent. A year ago, the 1-year adjustable rate mortgage averaged 2.99 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Treasury bond yields eased somewhat this week on some worsening economic indicators bringing mortgage rates back into record low territory. Industrial production fell in two of the last three months ending in May, and below the expected market consensus forecast. In addition, consumer sentiment fell in June to its lowest level this year, according to the University of Michigan survey. In its June 20th monetary policy announcement, the Federal Reserve also noted growth in employment has slowed in recent months and household spending appears to be rising at a somewhat slower pace.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.66 3.70 3.68 3.65 3.68 3.62
Fees & Points 0.7 0.7 0.7 0.7 0.7 0.8

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 2.95 2.97 2.96 2.96 2.96 2.92
Fees & Points 0.6 0.7 0.7 0.6 0.6 0.7

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.77 2.71 2.83 2.90 2.71 2.75
Fees & Points 0.6 0.7 0.6 0.5 0.7 0.7
Margin 2.74 2.74 2.75 2.73 2.76 2.74

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.74 2.86 2.75 2.66 2.73 2.70
Fees & Points 0.5 0.6 0.5 0.4 0.5 0.4
Margin 2.76 2.78 2.78 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 4.50   3.69   3.25   2.99   3.71   2.98   2.80   2.78  
Fees & Points 0.8   0.7   0.6   0.5   0.7   0.7   0.6   0.5  
Margin N/A N/A 2.74   2.76   N/A N/A 2.74   2.76  

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

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Todays Mortgage
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June 22, 2012 (Shirley Allen)

Worsening economic news from home and abroad kept Treasury bonds near their all-time lows which resulted in mortgage interest rates falling across the board in the last week according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending June 21st.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages declined last week with the 30-year fixed rate averaging 3.65 percent with an average of 0.7 points, down from last week’s average of 3.71 percent. A year ago, the 30-year fixed rate mortgage averaged 4.50 percent.

The 15-year fixed rate mortgage fell to 2.95 percent with an average of 0.6 points, down from last week’s average of 2.98 percent. At this time last year, the 15-year fixed rate mortgage averaged 3.69 percent.

Adjustable Rate Mortgages:

Interest rates for adjustable mortgages also fell last week with the 5-year Treasury-indexed hybrid ARM averaging 2.77 percent, with an average of 0.6 points, down from last week’s average of 2.80 percent. The 5-year adjustable rate mortgage averaged 3.25 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage averaged 2.74 percent with an average of 0.5 points, down from last week’s average of 2.78 percent. A year ago, the 1-year adjustable rate mortgage averaged 2.99 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Treasury bond yields eased somewhat this week on some worsening economic indicators bringing mortgage rates back into record low territory. Industrial production fell in two of the last three months ending in May, and below the expected market consensus forecast. In addition, consumer sentiment fell in June to its lowest level this year, according to the University of Michigan survey. In its June 20th monetary policy announcement, the Federal Reserve also noted growth in employment has slowed in recent months and household spending appears to be rising at a somewhat slower pace.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.66 3.70 3.68 3.65 3.68 3.62
Fees & Points 0.7 0.7 0.7 0.7 0.7 0.8

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 2.95 2.97 2.96 2.96 2.96 2.92
Fees & Points 0.6 0.7 0.7 0.6 0.6 0.7

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.77 2.71 2.83 2.90 2.71 2.75
Fees & Points 0.6 0.7 0.6 0.5 0.7 0.7
Margin 2.74 2.74 2.75 2.73 2.76 2.74

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.74 2.86 2.75 2.66 2.73 2.70
Fees & Points 0.5 0.6 0.5 0.4 0.5 0.4
Margin 2.76 2.78 2.78 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 4.50   3.69   3.25   2.99   3.71   2.98   2.80   2.78  
Fees & Points 0.8   0.7   0.6   0.5   0.7   0.7   0.6   0.5  
Margin N/A N/A 2.74   2.76   N/A N/A 2.74   2.76  

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

June 22, 2012 (Shirley Allen)

Worsening economic news from home and abroad kept Treasury bonds near their all-time lows which resulted in mortgage interest rates falling across the board in the last week according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending June 21st.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages declined last week with the 30-year fixed rate averaging 3.65 percent with an average of 0.7 points, down from last week’s average of 3.71 percent. A year ago, the 30-year fixed rate mortgage averaged 4.50 percent.

The 15-year fixed rate mortgage fell to 2.95 percent with an average of 0.6 points, down from last week’s average of 2.98 percent. At this time last year, the 15-year fixed rate mortgage averaged 3.69 percent.

Adjustable Rate Mortgages:

Interest rates for adjustable mortgages also fell last week with the 5-year Treasury-indexed hybrid ARM averaging 2.77 percent, with an average of 0.6 points, down from last week’s average of 2.80 percent. The 5-year adjustable rate mortgage averaged 3.25 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage averaged 2.74 percent with an average of 0.5 points, down from last week’s average of 2.78 percent. A year ago, the 1-year adjustable rate mortgage averaged 2.99 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Treasury bond yields eased somewhat this week on some worsening economic indicators bringing mortgage rates back into record low territory. Industrial production fell in two of the last three months ending in May, and below the expected market consensus forecast. In addition, consumer sentiment fell in June to its lowest level this year, according to the University of Michigan survey. In its June 20th monetary policy announcement, the Federal Reserve also noted growth in employment has slowed in recent months and household spending appears to be rising at a somewhat slower pace.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.66 3.70 3.68 3.65 3.68 3.62
Fees & Points 0.7 0.7 0.7 0.7 0.7 0.8

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 2.95 2.97 2.96 2.96 2.96 2.92
Fees & Points 0.6 0.7 0.7 0.6 0.6 0.7

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.77 2.71 2.83 2.90 2.71 2.75
Fees & Points 0.6 0.7 0.6 0.5 0.7 0.7
Margin 2.74 2.74 2.75 2.73 2.76 2.74

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.74 2.86 2.75 2.66 2.73 2.70
Fees & Points 0.5 0.6 0.5 0.4 0.5 0.4
Margin 2.76 2.78 2.78 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 4.50   3.69   3.25   2.99   3.71   2.98   2.80   2.78  
Fees & Points 0.8   0.7   0.6   0.5   0.7   0.7   0.6   0.5  
Margin N/A N/A 2.74   2.76   N/A N/A 2.74   2.76  

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.