Mortgage Rates Rise Slightly but Remain Near Record Lows
Mortgage Rates Rise Slightly but Remain Near Record Lows
Mortgage Rates Rise Slightly but Remain Near Record Lows
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December 30, 2011 (Shirley Allen)

Mortgage interest rates increased slightly across the board this week but remained near last weeks record lows according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending December 29th.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages remained near record lows with the 30-year fixed rate mortgage averaging 3.94 percent with an average of 0.7 points, up from last week’s record low average of 3.91 percent. A year ago the 30-year fixed rate
mortgage averaged 4.86 percent.

It was the also ninth consecutive week that 30-year fixed mortgage rates have been four percent or lower.

The 15-year fixed rate mortgage also increased slightly this week, averaging 3.24 percent with an average of 0.8 points. Last week, the 15-year mortgage rate matched its all-time low of 3.21 percent. At this time last year, the 15-year fixed rate mortgage averaged 4.15 percent.

Adjustable Rate Mortgages:

Interest rates for adjustable mortgages also increased this week with the 5-year Treasury-indexed hybrid ARM averaging 2.88 percent, up from last week’s record low of 2.85 percent, with an average of 0.6 points. The 5-year adjustable rate mortgage averaged 3.77 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage also increased slightly this week averaging 2.78 percent with an average of 0.6 points, up from a record low of 2.77 percent the previous week. A year ago, the 1-year adjustable rate mortgage averaged 3.26 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Mortgage rates ended the year hovering near historic lows in an already affordable housing market. For instance, the seasonally-adjusted S&P/Case-Shiller® 20-City Composite home price index in October was the lowest seen since March 2003. The largest hit areas were Las Vegas with the lowest reading since January 1997 and Atlanta which was since June 1998. It’s not surprising then that over 5 percent of households in December plan to purchase a home over the next six months, the highest share since May, according to The Conference Board.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.95 3.96 3.99 3.95 4.00 3.90
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 3.24 3.28 3.23 3.22 3.29 3.19
Fees & Points 0.8 0.7 0.8 0.7 0.8 0.8

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.88 2.95 2.79 3.03 2.90 2.72
Fees & Points 0.6 0.6 0.6 0.5 0.7 0.6
Margin 2.74 2.73 2.75 2.73 2.76 2.74

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.78 2.81 2.67 3.10 2.64 2.66
Fees & Points 0.6 0.8 0.6 0.4 0.6 0.5
Margin 2.76 2.78 2.75 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 4.86   4.20   3.77   3.26   3.91   3.21   2.85   2.77  
Fees & Points 0.8   0.8   0.7   0.6   0.7   0.8   0.6   0.6  
Margin N/A N/A 2.75   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

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Learn About
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15 Year vs 30 Year
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Todays Mortgage
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December 30, 2011 (Shirley Allen)

Mortgage interest rates increased slightly across the board this week but remained near last weeks record lows according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending December 29th.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages remained near record lows with the 30-year fixed rate mortgage averaging 3.94 percent with an average of 0.7 points, up from last week’s record low average of 3.91 percent. A year ago the 30-year fixed rate
mortgage averaged 4.86 percent.

It was the also ninth consecutive week that 30-year fixed mortgage rates have been four percent or lower.

The 15-year fixed rate mortgage also increased slightly this week, averaging 3.24 percent with an average of 0.8 points. Last week, the 15-year mortgage rate matched its all-time low of 3.21 percent. At this time last year, the 15-year fixed rate mortgage averaged 4.15 percent.

Adjustable Rate Mortgages:

Interest rates for adjustable mortgages also increased this week with the 5-year Treasury-indexed hybrid ARM averaging 2.88 percent, up from last week’s record low of 2.85 percent, with an average of 0.6 points. The 5-year adjustable rate mortgage averaged 3.77 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage also increased slightly this week averaging 2.78 percent with an average of 0.6 points, up from a record low of 2.77 percent the previous week. A year ago, the 1-year adjustable rate mortgage averaged 3.26 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Mortgage rates ended the year hovering near historic lows in an already affordable housing market. For instance, the seasonally-adjusted S&P/Case-Shiller® 20-City Composite home price index in October was the lowest seen since March 2003. The largest hit areas were Las Vegas with the lowest reading since January 1997 and Atlanta which was since June 1998. It’s not surprising then that over 5 percent of households in December plan to purchase a home over the next six months, the highest share since May, according to The Conference Board.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.95 3.96 3.99 3.95 4.00 3.90
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 3.24 3.28 3.23 3.22 3.29 3.19
Fees & Points 0.8 0.7 0.8 0.7 0.8 0.8

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.88 2.95 2.79 3.03 2.90 2.72
Fees & Points 0.6 0.6 0.6 0.5 0.7 0.6
Margin 2.74 2.73 2.75 2.73 2.76 2.74

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.78 2.81 2.67 3.10 2.64 2.66
Fees & Points 0.6 0.8 0.6 0.4 0.6 0.5
Margin 2.76 2.78 2.75 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 4.86   4.20   3.77   3.26   3.91   3.21   2.85   2.77  
Fees & Points 0.8   0.8   0.7   0.6   0.7   0.8   0.6   0.6  
Margin N/A N/A 2.75   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

December 30, 2011 (Shirley Allen)

Mortgage interest rates increased slightly across the board this week but remained near last weeks record lows according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending December 29th.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages remained near record lows with the 30-year fixed rate mortgage averaging 3.94 percent with an average of 0.7 points, up from last week’s record low average of 3.91 percent. A year ago the 30-year fixed rate
mortgage averaged 4.86 percent.

It was the also ninth consecutive week that 30-year fixed mortgage rates have been four percent or lower.

The 15-year fixed rate mortgage also increased slightly this week, averaging 3.24 percent with an average of 0.8 points. Last week, the 15-year mortgage rate matched its all-time low of 3.21 percent. At this time last year, the 15-year fixed rate mortgage averaged 4.15 percent.

Adjustable Rate Mortgages:

Interest rates for adjustable mortgages also increased this week with the 5-year Treasury-indexed hybrid ARM averaging 2.88 percent, up from last week’s record low of 2.85 percent, with an average of 0.6 points. The 5-year adjustable rate mortgage averaged 3.77 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage also increased slightly this week averaging 2.78 percent with an average of 0.6 points, up from a record low of 2.77 percent the previous week. A year ago, the 1-year adjustable rate mortgage averaged 3.26 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Mortgage rates ended the year hovering near historic lows in an already affordable housing market. For instance, the seasonally-adjusted S&P/Case-Shiller® 20-City Composite home price index in October was the lowest seen since March 2003. The largest hit areas were Las Vegas with the lowest reading since January 1997 and Atlanta which was since June 1998. It’s not surprising then that over 5 percent of households in December plan to purchase a home over the next six months, the highest share since May, according to The Conference Board.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.95 3.96 3.99 3.95 4.00 3.90
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 3.24 3.28 3.23 3.22 3.29 3.19
Fees & Points 0.8 0.7 0.8 0.7 0.8 0.8

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.88 2.95 2.79 3.03 2.90 2.72
Fees & Points 0.6 0.6 0.6 0.5 0.7 0.6
Margin 2.74 2.73 2.75 2.73 2.76 2.74

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.78 2.81 2.67 3.10 2.64 2.66
Fees & Points 0.6 0.8 0.6 0.4 0.6 0.5
Margin 2.76 2.78 2.75 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 4.86   4.20   3.77   3.26   3.91   3.21   2.85   2.77  
Fees & Points 0.8   0.8   0.7   0.6   0.7   0.8   0.6   0.6  
Margin N/A N/A 2.75   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.