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Thirty Year Fixed Rate Mortgage Declines to 4.63 Percent
Thirty Year Fixed Rate Mortgage Declines to 4.63 Percent
Thirty Year Fixed Rate Mortgage Declines to 4.63 Percent
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May 12, 2011 (Shirley Allen)

Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), which shows mortgage rates declining for the fourth consecutive week. Mortgage rates for the 30-year fixed-rate averaged 4.63 percent, and the 15-year fixed averaged 3.82 percent, their lowest levels yet in 2011.

  • 30-year fixed-rate mortgage (FRM) averaged 4.63 percent with an average 0.7 point for the week ending May 12, 2011, down from last week when it averaged 4.71 percent. Last year at this time, the 30-year FRM averaged 4.93 percent.  
  • 15-year FRM this week averaged 3.82 percent with an average 0.7 point, down from last week when it averaged 3.89 percent. A year ago at this time, the 15-year FRM averaged 4.30 percent.  
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.41 percent this week, with an average 0.6 point, down from last week when it averaged 3.47 percent. A year ago, the 5-year ARM averaged 3.95 percent.
  • 1-year Treasury-indexed ARM averaged 3.11 percent this week with an average 0.5 point, down from last week when it averaged 3.14 percent. At this time last year, the 1-year ARM averaged 4.02 percent.  

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Mortgage rates continued to decline this week following a mixed employment report. The economy added a healthy number of 244,000 workers in April, the most in 11 months, and the figures for March and February were revised up by 56,000 more jobs. However, the unemployment rate rose to 9.0 percent from 8.8 percent in March and was the highest reading since January. In addition, wages grew by only 0.1 percent, which was below the market consensus forecast.

And

“Distressed homes are suppressing house prices in many local areas. The National Association of Realtors® reported these homes sold at a 20 percent discount in the first quarter of this year and accounted for 39 percent of all existing home sales, up from 36 percent in the first quarter of 2010. As a result, only 22 percent of metropolitan areas exhibited higher median sales prices from a year ago, compared to 51 percent in the fourth quarter of 2010.

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 4.63 4.63 4.65 4.67 4.70 4.56
Fees & Points 0.7 0.6 0.9 0.6 0.7 0.8

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.82 3.83 3.83 3.83 3.90 3.76
Fees & Points 0.7 0.6 0.8 0.5 0.7 0.9

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.41 3.63 3.36 3.38 3.50 3.21
Fees & Points 0.6 0.5 0.7 0.4 0.5 0.7
Margin 2.74 2.74 2.75 2.72 2.76 2.73

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.11 3.24 2.89 3.52 3.04 2.88
Fees & Points 0.5 0.6 0.5 0.3 0.8 0.5
Margin 2.76 2.80 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 4.93   4.30   3.95   4.02   4.71   3.89   3.47   3.14  
Fees & Points 0.7   0.6   0.6   0.6   0.7   0.7   0.6   0.5  
Margin N/A N/A 2.74   2.75   N/A N/A 2.74   2.76  

Tags: 15 year fixed, 30 year fixed, fixed rate mortgage, freddie mac, interest rates, mortgage rates

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
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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.
Information You Can Use
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
Learn about the different types of home loans
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.

May 12, 2011 (Shirley Allen)

Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), which shows mortgage rates declining for the fourth consecutive week. Mortgage rates for the 30-year fixed-rate averaged 4.63 percent, and the 15-year fixed averaged 3.82 percent, their lowest levels yet in 2011.

  • 30-year fixed-rate mortgage (FRM) averaged 4.63 percent with an average 0.7 point for the week ending May 12, 2011, down from last week when it averaged 4.71 percent. Last year at this time, the 30-year FRM averaged 4.93 percent.  
  • 15-year FRM this week averaged 3.82 percent with an average 0.7 point, down from last week when it averaged 3.89 percent. A year ago at this time, the 15-year FRM averaged 4.30 percent.  
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.41 percent this week, with an average 0.6 point, down from last week when it averaged 3.47 percent. A year ago, the 5-year ARM averaged 3.95 percent.
  • 1-year Treasury-indexed ARM averaged 3.11 percent this week with an average 0.5 point, down from last week when it averaged 3.14 percent. At this time last year, the 1-year ARM averaged 4.02 percent.  

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Mortgage rates continued to decline this week following a mixed employment report. The economy added a healthy number of 244,000 workers in April, the most in 11 months, and the figures for March and February were revised up by 56,000 more jobs. However, the unemployment rate rose to 9.0 percent from 8.8 percent in March and was the highest reading since January. In addition, wages grew by only 0.1 percent, which was below the market consensus forecast.

And

“Distressed homes are suppressing house prices in many local areas. The National Association of Realtors® reported these homes sold at a 20 percent discount in the first quarter of this year and accounted for 39 percent of all existing home sales, up from 36 percent in the first quarter of 2010. As a result, only 22 percent of metropolitan areas exhibited higher median sales prices from a year ago, compared to 51 percent in the fourth quarter of 2010.

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 4.63 4.63 4.65 4.67 4.70 4.56
Fees & Points 0.7 0.6 0.9 0.6 0.7 0.8

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.82 3.83 3.83 3.83 3.90 3.76
Fees & Points 0.7 0.6 0.8 0.5 0.7 0.9

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.41 3.63 3.36 3.38 3.50 3.21
Fees & Points 0.6 0.5 0.7 0.4 0.5 0.7
Margin 2.74 2.74 2.75 2.72 2.76 2.73

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.11 3.24 2.89 3.52 3.04 2.88
Fees & Points 0.5 0.6 0.5 0.3 0.8 0.5
Margin 2.76 2.80 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 4.93   4.30   3.95   4.02   4.71   3.89   3.47   3.14  
Fees & Points 0.7   0.6   0.6   0.6   0.7   0.7   0.6   0.5  
Margin N/A N/A 2.74   2.75   N/A N/A 2.74   2.76  

Tags: 15 year fixed, 30 year fixed, fixed rate mortgage, freddie mac, interest rates, mortgage rates

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.
Information You Can Use
Helpful Tools

May 12, 2011 (Shirley Allen)

Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), which shows mortgage rates declining for the fourth consecutive week. Mortgage rates for the 30-year fixed-rate averaged 4.63 percent, and the 15-year fixed averaged 3.82 percent, their lowest levels yet in 2011.

  • 30-year fixed-rate mortgage (FRM) averaged 4.63 percent with an average 0.7 point for the week ending May 12, 2011, down from last week when it averaged 4.71 percent. Last year at this time, the 30-year FRM averaged 4.93 percent.  
  • 15-year FRM this week averaged 3.82 percent with an average 0.7 point, down from last week when it averaged 3.89 percent. A year ago at this time, the 15-year FRM averaged 4.30 percent.  
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.41 percent this week, with an average 0.6 point, down from last week when it averaged 3.47 percent. A year ago, the 5-year ARM averaged 3.95 percent.
  • 1-year Treasury-indexed ARM averaged 3.11 percent this week with an average 0.5 point, down from last week when it averaged 3.14 percent. At this time last year, the 1-year ARM averaged 4.02 percent.  

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Mortgage rates continued to decline this week following a mixed employment report. The economy added a healthy number of 244,000 workers in April, the most in 11 months, and the figures for March and February were revised up by 56,000 more jobs. However, the unemployment rate rose to 9.0 percent from 8.8 percent in March and was the highest reading since January. In addition, wages grew by only 0.1 percent, which was below the market consensus forecast.

And

“Distressed homes are suppressing house prices in many local areas. The National Association of Realtors® reported these homes sold at a 20 percent discount in the first quarter of this year and accounted for 39 percent of all existing home sales, up from 36 percent in the first quarter of 2010. As a result, only 22 percent of metropolitan areas exhibited higher median sales prices from a year ago, compared to 51 percent in the fourth quarter of 2010.

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 4.63 4.63 4.65 4.67 4.70 4.56
Fees & Points 0.7 0.6 0.9 0.6 0.7 0.8

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.82 3.83 3.83 3.83 3.90 3.76
Fees & Points 0.7 0.6 0.8 0.5 0.7 0.9

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.41 3.63 3.36 3.38 3.50 3.21
Fees & Points 0.6 0.5 0.7 0.4 0.5 0.7
Margin 2.74 2.74 2.75 2.72 2.76 2.73

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.11 3.24 2.89 3.52 3.04 2.88
Fees & Points 0.5 0.6 0.5 0.3 0.8 0.5
Margin 2.76 2.80 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 4.93   4.30   3.95   4.02   4.71   3.89   3.47   3.14  
Fees & Points 0.7   0.6   0.6   0.6   0.7   0.7   0.6   0.5  
Margin N/A N/A 2.74   2.75   N/A N/A 2.74   2.76  

Tags: 15 year fixed, 30 year fixed, fixed rate mortgage, freddie mac, interest rates, mortgage rates

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.
Information You Can Use

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