Treasury Bonds Hit 66-Year Low Keeping Mortgage Rates at Record Lows
Treasury Bonds Hit 66-Year Low Keeping Mortgage Rates at Record Lows
Treasury Bonds Hit 66-Year Low Keeping Mortgage Rates at Record Lows
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May 31, 2012 (Shirley Allen)

(Revised) Turmoil in the Eurozone pushed Treasury bonds to 66-year lows this week resulting in another round of record low rates for fixed rate mortgages according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending May 31st.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages fell lower this week with the 30-year fixed rate averaging a new all-time record low of 3.75 percent with an average of 0.8 points, down from an average of 3.78 percent last week. A year ago, the 30-year fixed rate mortgage averaged 4.55 percent.

The 15-year fixed rate mortgage fell under three percent for the first time, averaging 2.97 percent with an average of 0.7 points, down from an average of 3.04 percent last week. At this time last year, the 15-year fixed rate mortgage averaged 3.74 percent.

Adjustable Rate Mortgages:

Interest rates for adjustable mortgages remained at about the same levels as last week with the 5-year Treasury-indexed hybrid ARM averaging 2.84 percent, with an average of 0.6 points, up from last week’s average of 2.83 percent. The 5-year adjustable rate mortgage averaged 3.41 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage averaged 2.75 percent with an average of 0.4 points, down from last week’s average of 2.78 percent. A year ago, the 1-year adjustable rate mortgage averaged 3.31 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Market concerns over tensions in the Eurozone led to a decline in long-term Treasury bond yields helping to bring fixed mortgage rates to new record lows this week. Compared to a year ago, rates on 30-year fixed mortgage rates are almost 0.9 percentage points lower which translates into nearly $1,200 less in annual payments on a $200,000 loan. Meanwhile, the S&P/Case-Shiller 20-city composite home price index (not seasonally adjusted) showed annual home-value gains in March in seven cities and a monthly gain in 12 cities.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.75 3.76 3.76 3.77 3.79 3.70
Fees & Points 0.8 0.8 0.8 0.7 0.7 0.9

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 2.97 2.98 2.97 2.97 3.04 2.94
Fees & Points 0.7 0.7 0.8 0.6 0.7 0.9

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.84 2.85 2.85 2.97 2.82 2.75
Fees & Points 0.6 0.7 0.6 0.5 0.7 0.6
Margin 2.74 2.74 2.75 2.73 2.77 2.74

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.75 2.88 2.67 2.75 2.73 2.70
Fees & Points 0.4 0.5 0.5 0.4 0.5 0.4
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 4.55   3.74   3.41   3.13   3.78   3.04   2.83   2.75  
Fees & Points 0.6   0.7   0.6   0.6   0.8   0.7   0.6   0.4  
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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May 31, 2012 (Shirley Allen)

(Revised) Turmoil in the Eurozone pushed Treasury bonds to 66-year lows this week resulting in another round of record low rates for fixed rate mortgages according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending May 31st.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages fell lower this week with the 30-year fixed rate averaging a new all-time record low of 3.75 percent with an average of 0.8 points, down from an average of 3.78 percent last week. A year ago, the 30-year fixed rate mortgage averaged 4.55 percent.

The 15-year fixed rate mortgage fell under three percent for the first time, averaging 2.97 percent with an average of 0.7 points, down from an average of 3.04 percent last week. At this time last year, the 15-year fixed rate mortgage averaged 3.74 percent.

Adjustable Rate Mortgages:

Interest rates for adjustable mortgages remained at about the same levels as last week with the 5-year Treasury-indexed hybrid ARM averaging 2.84 percent, with an average of 0.6 points, up from last week’s average of 2.83 percent. The 5-year adjustable rate mortgage averaged 3.41 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage averaged 2.75 percent with an average of 0.4 points, down from last week’s average of 2.78 percent. A year ago, the 1-year adjustable rate mortgage averaged 3.31 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Market concerns over tensions in the Eurozone led to a decline in long-term Treasury bond yields helping to bring fixed mortgage rates to new record lows this week. Compared to a year ago, rates on 30-year fixed mortgage rates are almost 0.9 percentage points lower which translates into nearly $1,200 less in annual payments on a $200,000 loan. Meanwhile, the S&P/Case-Shiller 20-city composite home price index (not seasonally adjusted) showed annual home-value gains in March in seven cities and a monthly gain in 12 cities.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.75 3.76 3.76 3.77 3.79 3.70
Fees & Points 0.8 0.8 0.8 0.7 0.7 0.9

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 2.97 2.98 2.97 2.97 3.04 2.94
Fees & Points 0.7 0.7 0.8 0.6 0.7 0.9

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.84 2.85 2.85 2.97 2.82 2.75
Fees & Points 0.6 0.7 0.6 0.5 0.7 0.6
Margin 2.74 2.74 2.75 2.73 2.77 2.74

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.75 2.88 2.67 2.75 2.73 2.70
Fees & Points 0.4 0.5 0.5 0.4 0.5 0.4
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 4.55   3.74   3.41   3.13   3.78   3.04   2.83   2.75  
Fees & Points 0.6   0.7   0.6   0.6   0.8   0.7   0.6   0.4  
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
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CHOOSE YOUR LENDER
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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.
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May 31, 2012 (Shirley Allen)

(Revised) Turmoil in the Eurozone pushed Treasury bonds to 66-year lows this week resulting in another round of record low rates for fixed rate mortgages according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending May 31st.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages fell lower this week with the 30-year fixed rate averaging a new all-time record low of 3.75 percent with an average of 0.8 points, down from an average of 3.78 percent last week. A year ago, the 30-year fixed rate mortgage averaged 4.55 percent.

The 15-year fixed rate mortgage fell under three percent for the first time, averaging 2.97 percent with an average of 0.7 points, down from an average of 3.04 percent last week. At this time last year, the 15-year fixed rate mortgage averaged 3.74 percent.

Adjustable Rate Mortgages:

Interest rates for adjustable mortgages remained at about the same levels as last week with the 5-year Treasury-indexed hybrid ARM averaging 2.84 percent, with an average of 0.6 points, up from last week’s average of 2.83 percent. The 5-year adjustable rate mortgage averaged 3.41 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage averaged 2.75 percent with an average of 0.4 points, down from last week’s average of 2.78 percent. A year ago, the 1-year adjustable rate mortgage averaged 3.31 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Market concerns over tensions in the Eurozone led to a decline in long-term Treasury bond yields helping to bring fixed mortgage rates to new record lows this week. Compared to a year ago, rates on 30-year fixed mortgage rates are almost 0.9 percentage points lower which translates into nearly $1,200 less in annual payments on a $200,000 loan. Meanwhile, the S&P/Case-Shiller 20-city composite home price index (not seasonally adjusted) showed annual home-value gains in March in seven cities and a monthly gain in 12 cities.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.75 3.76 3.76 3.77 3.79 3.70
Fees & Points 0.8 0.8 0.8 0.7 0.7 0.9

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 2.97 2.98 2.97 2.97 3.04 2.94
Fees & Points 0.7 0.7 0.8 0.6 0.7 0.9

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.84 2.85 2.85 2.97 2.82 2.75
Fees & Points 0.6 0.7 0.6 0.5 0.7 0.6
Margin 2.74 2.74 2.75 2.73 2.77 2.74

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.75 2.88 2.67 2.75 2.73 2.70
Fees & Points 0.4 0.5 0.5 0.4 0.5 0.4
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 4.55   3.74   3.41   3.13   3.78   3.04   2.83   2.75  
Fees & Points 0.6   0.7   0.6   0.6   0.8   0.7   0.6   0.4  
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.