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Bad News Last Week Was Good News for Mortgage Rates This Week
The Easy Way to Shop For a Mortgage Loan
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You're Now Reading:
Bad News Last Week Was Good News for Mortgage Rates This Week
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:
Bad News Last Week Was Good News for Mortgage Rates This Week
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About Mortgages
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Mortgage Rates

September 8, 2011 (Shirley Allen)

Last week’s stock market turmoil and bad employment numbers translated into record low mortgage rates this week according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS).

Fixed Rate Mortgages (FRM):

Thirty year and the 15 year FRMs hit new all-time lows this week with the 30 year FRM averaging 4.12 percent, with an average of 0.7 points, down from 4.22 percent the previous week. The 30 year FRM averaged 4.35 percent a year earlier.

The 15 year FRM averaged 3.33 percent this week with an average 0.6 points, down from 3.39 percent reported the previous week, and down from 3.83 percent a year ago.

Adjustable Rate Mortgages (ARM):

ARM interest rates also reached all-time lows this week with the 5-year Treasury-indexed hybrid ARM remaining unchanged from last weeks all-time low of 2.96 percent, with an average of 0.6 points. The 5 year ARM averaged 3.56 percent a year earlier.

The 1-year Treasury-indexed ARM averaged 2.84 percent this week with an average of 0.6 points, down from 2.89 percent the previous week. A year ago, the 1 year ARM averaged 3.46 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Market concerns over Eurozone sovereign debt default and a weak U.S. employment report for August placed downward pressure on Treasury bond yields and allowed fixed mortgage rates to hit new lows this week. On net, the economy added no new jobs last month and was the weakest reading since September 2010. Meanwhile, the unemployment rate remained at 9.1 percent, marking its 31st consecutive month of being above 8 percent, the longest such stretch in 70 years.”

“The Federal Reserve (Fed) painted a bleaker picture as well in its September 7th regional economic review. Seven of its 12 Districts reported more subdued views of business conditions. Many of the Fed’s manufacturing contacts downgraded or became more cautious about their near-term outlooks due to increased economic uncertainty,” he added.

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 4.12 4.15 4.20 4.12 4.17 4.05
Fees & Points 0.7 0.6 0.8 0.6 0.7 0.8

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.33 3.37 3.34 3.27 3.40 3.29
Fees & Points 0.6 0.6 0.8 0.5 0.7 0.6

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.96 2.97 2.94 3.04 2.98 2.90
Fees & Points 0.6 0.6 0.6 0.4 0.7 0.6
Margin 2.74 2.75 2.75 2.72 2.76 2.73

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.84 2.94 2.70 3.08 2.77 2.70
Fees & Points 0.6 0.7 0.6 0.5 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 4.35   3.83   3.56   3.46   4.22   3.39   2.96   2.89  
Fees & Points 0.7   0.6   0.6   0.7   0.7   0.6   0.6   0.6  
Margin N/A N/A 2.75   2.77   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 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.
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Tips
Home Selling
Tips
About
Mortgages
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Calculator
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Rates

September 8, 2011 (Shirley Allen)

Last week’s stock market turmoil and bad employment numbers translated into record low mortgage rates this week according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS).

Fixed Rate Mortgages (FRM):

Thirty year and the 15 year FRMs hit new all-time lows this week with the 30 year FRM averaging 4.12 percent, with an average of 0.7 points, down from 4.22 percent the previous week. The 30 year FRM averaged 4.35 percent a year earlier.

The 15 year FRM averaged 3.33 percent this week with an average 0.6 points, down from 3.39 percent reported the previous week, and down from 3.83 percent a year ago.

Adjustable Rate Mortgages (ARM):

ARM interest rates also reached all-time lows this week with the 5-year Treasury-indexed hybrid ARM remaining unchanged from last weeks all-time low of 2.96 percent, with an average of 0.6 points. The 5 year ARM averaged 3.56 percent a year earlier.

The 1-year Treasury-indexed ARM averaged 2.84 percent this week with an average of 0.6 points, down from 2.89 percent the previous week. A year ago, the 1 year ARM averaged 3.46 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Market concerns over Eurozone sovereign debt default and a weak U.S. employment report for August placed downward pressure on Treasury bond yields and allowed fixed mortgage rates to hit new lows this week. On net, the economy added no new jobs last month and was the weakest reading since September 2010. Meanwhile, the unemployment rate remained at 9.1 percent, marking its 31st consecutive month of being above 8 percent, the longest such stretch in 70 years.”

“The Federal Reserve (Fed) painted a bleaker picture as well in its September 7th regional economic review. Seven of its 12 Districts reported more subdued views of business conditions. Many of the Fed’s manufacturing contacts downgraded or became more cautious about their near-term outlooks due to increased economic uncertainty,” he added.

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 4.12 4.15 4.20 4.12 4.17 4.05
Fees & Points 0.7 0.6 0.8 0.6 0.7 0.8

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.33 3.37 3.34 3.27 3.40 3.29
Fees & Points 0.6 0.6 0.8 0.5 0.7 0.6

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.96 2.97 2.94 3.04 2.98 2.90
Fees & Points 0.6 0.6 0.6 0.4 0.7 0.6
Margin 2.74 2.75 2.75 2.72 2.76 2.73

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.84 2.94 2.70 3.08 2.77 2.70
Fees & Points 0.6 0.7 0.6 0.5 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 4.35   3.83   3.56   3.46   4.22   3.39   2.96   2.89  
Fees & Points 0.7   0.6   0.6   0.7   0.7   0.6   0.6   0.6  
Margin N/A N/A 2.75   2.77   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 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.

September 8, 2011 (Shirley Allen)

Last week’s stock market turmoil and bad employment numbers translated into record low mortgage rates this week according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS).

Fixed Rate Mortgages (FRM):

Thirty year and the 15 year FRMs hit new all-time lows this week with the 30 year FRM averaging 4.12 percent, with an average of 0.7 points, down from 4.22 percent the previous week. The 30 year FRM averaged 4.35 percent a year earlier.

The 15 year FRM averaged 3.33 percent this week with an average 0.6 points, down from 3.39 percent reported the previous week, and down from 3.83 percent a year ago.

Adjustable Rate Mortgages (ARM):

ARM interest rates also reached all-time lows this week with the 5-year Treasury-indexed hybrid ARM remaining unchanged from last weeks all-time low of 2.96 percent, with an average of 0.6 points. The 5 year ARM averaged 3.56 percent a year earlier.

The 1-year Treasury-indexed ARM averaged 2.84 percent this week with an average of 0.6 points, down from 2.89 percent the previous week. A year ago, the 1 year ARM averaged 3.46 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Market concerns over Eurozone sovereign debt default and a weak U.S. employment report for August placed downward pressure on Treasury bond yields and allowed fixed mortgage rates to hit new lows this week. On net, the economy added no new jobs last month and was the weakest reading since September 2010. Meanwhile, the unemployment rate remained at 9.1 percent, marking its 31st consecutive month of being above 8 percent, the longest such stretch in 70 years.”

“The Federal Reserve (Fed) painted a bleaker picture as well in its September 7th regional economic review. Seven of its 12 Districts reported more subdued views of business conditions. Many of the Fed’s manufacturing contacts downgraded or became more cautious about their near-term outlooks due to increased economic uncertainty,” he added.

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 4.12 4.15 4.20 4.12 4.17 4.05
Fees & Points 0.7 0.6 0.8 0.6 0.7 0.8

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.33 3.37 3.34 3.27 3.40 3.29
Fees & Points 0.6 0.6 0.8 0.5 0.7 0.6

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.96 2.97 2.94 3.04 2.98 2.90
Fees & Points 0.6 0.6 0.6 0.4 0.7 0.6
Margin 2.74 2.75 2.75 2.72 2.76 2.73

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.84 2.94 2.70 3.08 2.77 2.70
Fees & Points 0.6 0.7 0.6 0.5 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 4.35   3.83   3.56   3.46   4.22   3.39   2.96   2.89  
Fees & Points 0.7   0.6   0.6   0.7   0.7   0.6   0.6   0.6  
Margin N/A N/A 2.75   2.77   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

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.