MortgageLoanRateUpdate
MortgageLoanRateUpdate
MortgageLoanRateUpdate
1-000-000-0000 BECOME A PARTNER
1-000-000-0000 BECOME A PARTNER
1-000-000-0000 BECOME A PARTNER
You're Now Reading:
Are Mortgage Rates Bottoming Out?
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Are Mortgage Rates Bottoming Out?
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Are Mortgage Rates Bottoming Out?
Mortgage Calculator
Mortgage Rates
Home Buying Tips
Home Selling Tips
About Mortgages
Mortgage Calculator
Mortgage Rates

May 27, 2011 (Chris Moore)

Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®), which shows fixed rate mortgages declining slightly from the previous week, while rates for adjustable rate mortgages (ARM) climbed higher . With the landmark 30 year fixed rate mortgage only dropping 2 basis points this week and two basis points last week, and with the Mortgage Bankers Association (MBA) and LendingTree reporting slight mortgage rate increases in their reports this week, if you’re sitting on the fence thinking of refinancing or purchasing, now might be a good time.

According to Freddie Mac, the 30-year fixed-rate mortgage (FRM) averaged 4.61 percent with an average 0.7 point for the week ending May 19, 2011, down from last week when it averaged 4.63 percent. Last year at this time, the 30-year FRM averaged 4.84 percent. The 15-year FRM this week averaged 3.80 percent with an average 0.7 point, down from last week when it averaged 3.82 percent. A year ago at this time, the 15-year FRM averaged 4.24 percent.

Adjustable rate mortgage rates, on the other hand, showed rate increases this week as the 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.48 percent this week, with an average 0.6 point, up from last week when it averaged 3.41 percent. A year ago, the 5-year ARM averaged 3.91 percent. The 1-year Treasury-indexed ARM averaged 3.15 percent this week with an average 0.6 point, up from last week when it averaged 3.11 percent. At this time last year, the 1-year ARM averaged 4.00 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac stated, “Fixed mortgage rates inched down for the fifth consecutive week as financial markets try to ascertain the current strength of the economy. Industrial production was unchanged in April owing to disruptions in automobile parts supplies due to the earthquake and tsunami in Japan. Netting out automobiles and gasoline, retail sales rose 0.2 percent in April, which was less than a third of the increase in March and the weakest growth since December 2010. However, consumer confidence, as measured by the University of Michigan, rose above the market consensus in May to the highest reading since February.”

Although a weakening economy is not good for Americans, historically it’s good for mortgage interest rates. But historically mortgage interest rate predicting has been a bad profession to be in.

In their weekly reports this week, the MBA reported a mixed bag on interest rates as the effective rate of the 30 year FRM was slightly higher while the 15 year FRM’s effective rate was slightly lower. LendingTree reported slightly higher interest rates across the board in their weekly Mortgage Pulse Rate report.

Nothaft added, “Data on the housing market was also mixed. New construction on single-family homes fell 5.1 percent in April, with the largest declines occurring in the Midwest and South regions where tornados hit the hardest. Homebuilder confidence remained unchanged in May and near its January 2009 historical low, according to the NAHB/Wells Fargo Housing Market Index. However, conventional mortgages applications rose for the past five straight weeks ending May 13th, buoyed by lower mortgage rates and stronger refinancing activity.”

Interest rates are at the lowest levels seen in 2011, and with mixed economic activity, are likely to be up and down slightly each week until financial markets can better ascertain the current strength of the economy.

Might be a good time to get off that fence though.

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

Sources:
Freddie Mac
LoanRateUpdate
LoanRateUpdate

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 4.60 4.60 4.62 4.63 4.65 4.54
Fees & Points 0.7 0.7 0.9 0.6 0.6 0.8

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.78 3.80 3.79 3.82 3.85 3.71
Fees & Points 0.7 0.7 0.9 0.5 0.6 0.8

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.41 3.57 3.40 3.45 3.46 3.24
Fees & Points 0.5 0.5 0.7 0.4 0.5 0.6
Margin 2.74 2.74 2.75 2.74 2.76 2.73

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.11 3.26 2.88 3.52 3.00 2.87
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 4.78   4.21   3.97   3.95   4.61   3.80   3.48   3.15  
Fees & Points 0.7   0.7   0.7   0.6   0.7   0.7   0.6   0.6  
Margin N/A N/A 2.75   2.75   N/A N/A 2.74   2.76  
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 MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at Mortgageloanrateupdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
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.
Home Buying
Tips
Home Selling
Tips
About
Mortgages
Mortgage
Calculator
Mortgage
Rates

May 27, 2011 (Chris Moore)

Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®), which shows fixed rate mortgages declining slightly from the previous week, while rates for adjustable rate mortgages (ARM) climbed higher . With the landmark 30 year fixed rate mortgage only dropping 2 basis points this week and two basis points last week, and with the Mortgage Bankers Association (MBA) and LendingTree reporting slight mortgage rate increases in their reports this week, if you’re sitting on the fence thinking of refinancing or purchasing, now might be a good time.

According to Freddie Mac, the 30-year fixed-rate mortgage (FRM) averaged 4.61 percent with an average 0.7 point for the week ending May 19, 2011, down from last week when it averaged 4.63 percent. Last year at this time, the 30-year FRM averaged 4.84 percent. The 15-year FRM this week averaged 3.80 percent with an average 0.7 point, down from last week when it averaged 3.82 percent. A year ago at this time, the 15-year FRM averaged 4.24 percent.

Adjustable rate mortgage rates, on the other hand, showed rate increases this week as the 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.48 percent this week, with an average 0.6 point, up from last week when it averaged 3.41 percent. A year ago, the 5-year ARM averaged 3.91 percent. The 1-year Treasury-indexed ARM averaged 3.15 percent this week with an average 0.6 point, up from last week when it averaged 3.11 percent. At this time last year, the 1-year ARM averaged 4.00 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac stated, “Fixed mortgage rates inched down for the fifth consecutive week as financial markets try to ascertain the current strength of the economy. Industrial production was unchanged in April owing to disruptions in automobile parts supplies due to the earthquake and tsunami in Japan. Netting out automobiles and gasoline, retail sales rose 0.2 percent in April, which was less than a third of the increase in March and the weakest growth since December 2010. However, consumer confidence, as measured by the University of Michigan, rose above the market consensus in May to the highest reading since February.”

Although a weakening economy is not good for Americans, historically it’s good for mortgage interest rates. But historically mortgage interest rate predicting has been a bad profession to be in.

In their weekly reports this week, the MBA reported a mixed bag on interest rates as the effective rate of the 30 year FRM was slightly higher while the 15 year FRM’s effective rate was slightly lower. LendingTree reported slightly higher interest rates across the board in their weekly Mortgage Pulse Rate report.

Nothaft added, “Data on the housing market was also mixed. New construction on single-family homes fell 5.1 percent in April, with the largest declines occurring in the Midwest and South regions where tornados hit the hardest. Homebuilder confidence remained unchanged in May and near its January 2009 historical low, according to the NAHB/Wells Fargo Housing Market Index. However, conventional mortgages applications rose for the past five straight weeks ending May 13th, buoyed by lower mortgage rates and stronger refinancing activity.”

Interest rates are at the lowest levels seen in 2011, and with mixed economic activity, are likely to be up and down slightly each week until financial markets can better ascertain the current strength of the economy.

Might be a good time to get off that fence though.

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

Sources:
Freddie Mac
LoanRateUpdate
LoanRateUpdate

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 4.60 4.60 4.62 4.63 4.65 4.54
Fees & Points 0.7 0.7 0.9 0.6 0.6 0.8

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.78 3.80 3.79 3.82 3.85 3.71
Fees & Points 0.7 0.7 0.9 0.5 0.6 0.8

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.41 3.57 3.40 3.45 3.46 3.24
Fees & Points 0.5 0.5 0.7 0.4 0.5 0.6
Margin 2.74 2.74 2.75 2.74 2.76 2.73

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.11 3.26 2.88 3.52 3.00 2.87
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 4.78   4.21   3.97   3.95   4.61   3.80   3.48   3.15  
Fees & Points 0.7   0.7   0.7   0.6   0.7   0.7   0.6   0.6  
Margin N/A N/A 2.75   2.75   N/A N/A 2.74   2.76  
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 LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
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.

May 27, 2011 (Chris Moore)

Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®), which shows fixed rate mortgages declining slightly from the previous week, while rates for adjustable rate mortgages (ARM) climbed higher . With the landmark 30 year fixed rate mortgage only dropping 2 basis points this week and two basis points last week, and with the Mortgage Bankers Association (MBA) and LendingTree reporting slight mortgage rate increases in their reports this week, if you’re sitting on the fence thinking of refinancing or purchasing, now might be a good time.

According to Freddie Mac, the 30-year fixed-rate mortgage (FRM) averaged 4.61 percent with an average 0.7 point for the week ending May 19, 2011, down from last week when it averaged 4.63 percent. Last year at this time, the 30-year FRM averaged 4.84 percent. The 15-year FRM this week averaged 3.80 percent with an average 0.7 point, down from last week when it averaged 3.82 percent. A year ago at this time, the 15-year FRM averaged 4.24 percent.

Adjustable rate mortgage rates, on the other hand, showed rate increases this week as the 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.48 percent this week, with an average 0.6 point, up from last week when it averaged 3.41 percent. A year ago, the 5-year ARM averaged 3.91 percent. The 1-year Treasury-indexed ARM averaged 3.15 percent this week with an average 0.6 point, up from last week when it averaged 3.11 percent. At this time last year, the 1-year ARM averaged 4.00 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac stated, “Fixed mortgage rates inched down for the fifth consecutive week as financial markets try to ascertain the current strength of the economy. Industrial production was unchanged in April owing to disruptions in automobile parts supplies due to the earthquake and tsunami in Japan. Netting out automobiles and gasoline, retail sales rose 0.2 percent in April, which was less than a third of the increase in March and the weakest growth since December 2010. However, consumer confidence, as measured by the University of Michigan, rose above the market consensus in May to the highest reading since February.”

Although a weakening economy is not good for Americans, historically it’s good for mortgage interest rates. But historically mortgage interest rate predicting has been a bad profession to be in.

In their weekly reports this week, the MBA reported a mixed bag on interest rates as the effective rate of the 30 year FRM was slightly higher while the 15 year FRM’s effective rate was slightly lower. LendingTree reported slightly higher interest rates across the board in their weekly Mortgage Pulse Rate report.

Nothaft added, “Data on the housing market was also mixed. New construction on single-family homes fell 5.1 percent in April, with the largest declines occurring in the Midwest and South regions where tornados hit the hardest. Homebuilder confidence remained unchanged in May and near its January 2009 historical low, according to the NAHB/Wells Fargo Housing Market Index. However, conventional mortgages applications rose for the past five straight weeks ending May 13th, buoyed by lower mortgage rates and stronger refinancing activity.”

Interest rates are at the lowest levels seen in 2011, and with mixed economic activity, are likely to be up and down slightly each week until financial markets can better ascertain the current strength of the economy.

Might be a good time to get off that fence though.

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

Sources:
Freddie Mac
LoanRateUpdate
LoanRateUpdate

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 4.60 4.60 4.62 4.63 4.65 4.54
Fees & Points 0.7 0.7 0.9 0.6 0.6 0.8

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.78 3.80 3.79 3.82 3.85 3.71
Fees & Points 0.7 0.7 0.9 0.5 0.6 0.8

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.41 3.57 3.40 3.45 3.46 3.24
Fees & Points 0.5 0.5 0.7 0.4 0.5 0.6
Margin 2.74 2.74 2.75 2.74 2.76 2.73

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.11 3.26 2.88 3.52 3.00 2.87
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 4.78   4.21   3.97   3.95   4.61   3.80   3.48   3.15  
Fees & Points 0.7   0.7   0.7   0.6   0.7   0.7   0.6   0.6  
Margin N/A N/A 2.75   2.75   N/A N/A 2.74   2.76  
Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
MORTGAGELOANRATEUPDATE
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 MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
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.