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Fifteen-Year Fixed Mortgage Rate Falls to New Record Low of 3.13 Percent
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You're Now Reading:
Fifteen-Year Fixed Mortgage Rate Falls to New Record Low of 3.13 Percent
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:
Fifteen-Year Fixed Mortgage Rate Falls to New Record Low of 3.13 Percent
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March 8, 2012 (Shirley Allen)

Interest rates on the 15-year fixed mortgage hit a new record low this week while rates on the 30-year fixed and the 1-year and 5-year ARMs hovered only one basis point above their record lows according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending March 8th.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages fell this week with the 30-year fixed rate averaging 3.88 percent with an average of 0.8 points, down from an average of 3.90 percent last week. That’s only one basis point above its record low. A year ago, the 30-year fixed rate mortgage averaged 4.88 percent.

It was the 18th consecutive week that 30-year fixed mortgage rates have been four percent or less.

The 15-year fixed rate mortgage averaged a new all-time record low of 3.13 percent with an average of 0.8 points, down from last week’s average of 3.17 percent. At this time last year, the 15-year fixed rate mortgage averaged 4.15 percent.

Adjustable Rate Mortgages:

Interest rates for adjustable mortgages were mixed this week with the 5-year Treasury-indexed hybrid ARM averaging 2.81 percent, down from last week’s average of 2.83 percent, with an average of 0.7 points. That’s also just one basis point above its record low of 2.80 percent. The 5-year adjustable rate mortgage averaged 3.73 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage averaged 2.73 percent with an average of 0.6 points, up from last week’s all-time record low average of 2.72 percent. A year ago, the 1-year adjustable rate mortgage averaged 3.21 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “With these historically low rates and declining house prices, the typical family had more than double the income needed to purchase a median-priced home in January, according to the National Association of Realtors® Housing Affordability Index which registered the highest reading since records began in 1970. In fact, the Corelogic® National Home Price Index fell for the sixth consecutive month in January to the lowest level since January 2003. This high level of affordability likely contributed to the recent two-week rise ending March 2nd in mortgage applications for home purchases.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.88 3.89 3.90 3.90 3.92 3.84
Fees & Points 0.8 0.8 0.9 0.8 0.8 0.8

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.13 3.14 3.15 3.13 3.20 3.09
Fees & Points 0.8 0.8 0.9 0.7 0.8 0.8

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.81 2.83 2.76 2.97 2.70 2.76
Fees & Points 0.7 0.8 0.7 0.6 0.9 0.7
Margin 2.74 2.74 2.75 2.73 2.76 2.74

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.73 2.80 2.61 2.92 2.66 2.64
Fees & Points 0.6 0.8 0.6 0.6 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 4.88   4.15   3.73   3.21   3.90   3.17   2.83   2.72  
Fees & Points 0.7   0.7   0.6   0.5   0.8   0.8   0.7   0.6  
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
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
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Calculator
Mortgage
Rates

March 8, 2012 (Shirley Allen)

Interest rates on the 15-year fixed mortgage hit a new record low this week while rates on the 30-year fixed and the 1-year and 5-year ARMs hovered only one basis point above their record lows according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending March 8th.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages fell this week with the 30-year fixed rate averaging 3.88 percent with an average of 0.8 points, down from an average of 3.90 percent last week. That’s only one basis point above its record low. A year ago, the 30-year fixed rate mortgage averaged 4.88 percent.

It was the 18th consecutive week that 30-year fixed mortgage rates have been four percent or less.

The 15-year fixed rate mortgage averaged a new all-time record low of 3.13 percent with an average of 0.8 points, down from last week’s average of 3.17 percent. At this time last year, the 15-year fixed rate mortgage averaged 4.15 percent.

Adjustable Rate Mortgages:

Interest rates for adjustable mortgages were mixed this week with the 5-year Treasury-indexed hybrid ARM averaging 2.81 percent, down from last week’s average of 2.83 percent, with an average of 0.7 points. That’s also just one basis point above its record low of 2.80 percent. The 5-year adjustable rate mortgage averaged 3.73 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage averaged 2.73 percent with an average of 0.6 points, up from last week’s all-time record low average of 2.72 percent. A year ago, the 1-year adjustable rate mortgage averaged 3.21 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “With these historically low rates and declining house prices, the typical family had more than double the income needed to purchase a median-priced home in January, according to the National Association of Realtors® Housing Affordability Index which registered the highest reading since records began in 1970. In fact, the Corelogic® National Home Price Index fell for the sixth consecutive month in January to the lowest level since January 2003. This high level of affordability likely contributed to the recent two-week rise ending March 2nd in mortgage applications for home purchases.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.88 3.89 3.90 3.90 3.92 3.84
Fees & Points 0.8 0.8 0.9 0.8 0.8 0.8

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.13 3.14 3.15 3.13 3.20 3.09
Fees & Points 0.8 0.8 0.9 0.7 0.8 0.8

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.81 2.83 2.76 2.97 2.70 2.76
Fees & Points 0.7 0.8 0.7 0.6 0.9 0.7
Margin 2.74 2.74 2.75 2.73 2.76 2.74

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.73 2.80 2.61 2.92 2.66 2.64
Fees & Points 0.6 0.8 0.6 0.6 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 4.88   4.15   3.73   3.21   3.90   3.17   2.83   2.72  
Fees & Points 0.7   0.7   0.6   0.5   0.8   0.8   0.7   0.6  
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
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.

March 8, 2012 (Shirley Allen)

Interest rates on the 15-year fixed mortgage hit a new record low this week while rates on the 30-year fixed and the 1-year and 5-year ARMs hovered only one basis point above their record lows according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending March 8th.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages fell this week with the 30-year fixed rate averaging 3.88 percent with an average of 0.8 points, down from an average of 3.90 percent last week. That’s only one basis point above its record low. A year ago, the 30-year fixed rate mortgage averaged 4.88 percent.

It was the 18th consecutive week that 30-year fixed mortgage rates have been four percent or less.

The 15-year fixed rate mortgage averaged a new all-time record low of 3.13 percent with an average of 0.8 points, down from last week’s average of 3.17 percent. At this time last year, the 15-year fixed rate mortgage averaged 4.15 percent.

Adjustable Rate Mortgages:

Interest rates for adjustable mortgages were mixed this week with the 5-year Treasury-indexed hybrid ARM averaging 2.81 percent, down from last week’s average of 2.83 percent, with an average of 0.7 points. That’s also just one basis point above its record low of 2.80 percent. The 5-year adjustable rate mortgage averaged 3.73 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage averaged 2.73 percent with an average of 0.6 points, up from last week’s all-time record low average of 2.72 percent. A year ago, the 1-year adjustable rate mortgage averaged 3.21 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “With these historically low rates and declining house prices, the typical family had more than double the income needed to purchase a median-priced home in January, according to the National Association of Realtors® Housing Affordability Index which registered the highest reading since records began in 1970. In fact, the Corelogic® National Home Price Index fell for the sixth consecutive month in January to the lowest level since January 2003. This high level of affordability likely contributed to the recent two-week rise ending March 2nd in mortgage applications for home purchases.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.88 3.89 3.90 3.90 3.92 3.84
Fees & Points 0.8 0.8 0.9 0.8 0.8 0.8

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.13 3.14 3.15 3.13 3.20 3.09
Fees & Points 0.8 0.8 0.9 0.7 0.8 0.8

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.81 2.83 2.76 2.97 2.70 2.76
Fees & Points 0.7 0.8 0.7 0.6 0.9 0.7
Margin 2.74 2.74 2.75 2.73 2.76 2.74

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.73 2.80 2.61 2.92 2.66 2.64
Fees & Points 0.6 0.8 0.6 0.6 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 4.88   4.15   3.73   3.21   3.90   3.17   2.83   2.72  
Fees & Points 0.7   0.7   0.6   0.5   0.8   0.8   0.7   0.6  
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

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.