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Fixed Rate Mortgages Hit Record Lows after Fed Announcement
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You're Now Reading:
Fixed Rate Mortgages Hit Record Lows after Fed Announcement
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.
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Fixed Rate Mortgages Hit Record Lows after Fed Announcement
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Mortgage Rates

September 29, 2011 (Shirley Allen)

Fifteen year and 30 year fixed rate mortgages hit record lows this week following the announcement of Federal Reserve’s new economic easing program according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS)

Fixed Rate Mortgages (FRM):

The 30 year FRM set an all-time low averaging 4.01 percent with an average of 0.7 points, down from last week’s average of 4.09 percent. The 30 year FRM averaged 4.32 percent a year earlier.

Of the five regions that Freddie Mac surveys, the West region recorded the lowest average rate of 3.95 percent for a 30 year fixed rate mortgage.

The 15 year FRM also set a new low averaging 3.28 percent this week with an average 0.7 points, down from 3.29 percent reported the previous week, and down from 3.75 percent a year ago.

Adjustable Rate Mortgages (ARM):

ARM interest rates increased slightly this week with the 5-year Treasury-indexed hybrid ARM averaging 3.02 percent, unchanged from last week, with an average of 0.6 points. The 5 year ARM averaged 3.52 percent a year earlier.

The 1-year Treasury-indexed ARM increased one basis point, averaging 2.83 percent this week with an average of 0.6 points, up from 2.82 percent the previous week. A year ago, the 1 year ARM averaged 3.48 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Fixed mortgage rates fell to all-time record lows this week following the Federal Reserve’s announcement of its Maturity Extension Program and additional purchases of mortgage-backed securities. Interest rates for ARMs, however, were nearly unchanged as the Federal Reserve plans to sell $400 billion in short-term Treasury securities, which serve as benchmarks for many ARMs.”

“Meanwhile, the spring and summer home-buying season gave a boost to a number of house price indexes. The Federal Housing Finance Agency reported that its National index (not seasonally adjusted) rose for the fourth consecutive month in July. Similarly, the S&P/Case-Shiller® 20-City composite index, which has a broader scope of properties, rose 0.9 percent between June and July with 17 of the cities experiencing positive monthly growth. Finally, CoreLogic® reported that its index, excluding distressed sales, increased at a 1.7 percent monthly rate for the same month,” he added.

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 4.01 4.01 4.09 4.02 4.08 3.95
Fees & Points 0.7 0.7 0.8 0.6 0.7 0.8

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.28 3.28 3.30 3.28 3.36 3.25
Fees & Points 0.7 0.7 0.8 0.4 0.7 0.7

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.02 3.10 3.00 3.15 3.05 2.88
Fees & Points 0.6 0.6 0.6 0.4 0.7 0.6
Margin 2.74 2.74 2.75 2.73 2.76 2.73

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.83 2.90 2.72 3.14 2.71 2.70
Fees & Points 0.6 0.7 0.6 0.4 0.6 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 4.32   3.75   3.52   3.48   4.09   3.29   3.02   2.82  
Fees & Points 0.8   0.7   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
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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.
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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.
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ADVANTAGES OF USING
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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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September 29, 2011 (Shirley Allen)

Fifteen year and 30 year fixed rate mortgages hit record lows this week following the announcement of Federal Reserve’s new economic easing program according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS)

Fixed Rate Mortgages (FRM):

The 30 year FRM set an all-time low averaging 4.01 percent with an average of 0.7 points, down from last week’s average of 4.09 percent. The 30 year FRM averaged 4.32 percent a year earlier.

Of the five regions that Freddie Mac surveys, the West region recorded the lowest average rate of 3.95 percent for a 30 year fixed rate mortgage.

The 15 year FRM also set a new low averaging 3.28 percent this week with an average 0.7 points, down from 3.29 percent reported the previous week, and down from 3.75 percent a year ago.

Adjustable Rate Mortgages (ARM):

ARM interest rates increased slightly this week with the 5-year Treasury-indexed hybrid ARM averaging 3.02 percent, unchanged from last week, with an average of 0.6 points. The 5 year ARM averaged 3.52 percent a year earlier.

The 1-year Treasury-indexed ARM increased one basis point, averaging 2.83 percent this week with an average of 0.6 points, up from 2.82 percent the previous week. A year ago, the 1 year ARM averaged 3.48 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Fixed mortgage rates fell to all-time record lows this week following the Federal Reserve’s announcement of its Maturity Extension Program and additional purchases of mortgage-backed securities. Interest rates for ARMs, however, were nearly unchanged as the Federal Reserve plans to sell $400 billion in short-term Treasury securities, which serve as benchmarks for many ARMs.”

“Meanwhile, the spring and summer home-buying season gave a boost to a number of house price indexes. The Federal Housing Finance Agency reported that its National index (not seasonally adjusted) rose for the fourth consecutive month in July. Similarly, the S&P/Case-Shiller® 20-City composite index, which has a broader scope of properties, rose 0.9 percent between June and July with 17 of the cities experiencing positive monthly growth. Finally, CoreLogic® reported that its index, excluding distressed sales, increased at a 1.7 percent monthly rate for the same month,” he added.

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 4.01 4.01 4.09 4.02 4.08 3.95
Fees & Points 0.7 0.7 0.8 0.6 0.7 0.8

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.28 3.28 3.30 3.28 3.36 3.25
Fees & Points 0.7 0.7 0.8 0.4 0.7 0.7

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.02 3.10 3.00 3.15 3.05 2.88
Fees & Points 0.6 0.6 0.6 0.4 0.7 0.6
Margin 2.74 2.74 2.75 2.73 2.76 2.73

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.83 2.90 2.72 3.14 2.71 2.70
Fees & Points 0.6 0.7 0.6 0.4 0.6 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 4.32   3.75   3.52   3.48   4.09   3.29   3.02   2.82  
Fees & Points 0.8   0.7   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 29, 2011 (Shirley Allen)

Fifteen year and 30 year fixed rate mortgages hit record lows this week following the announcement of Federal Reserve’s new economic easing program according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS)

Fixed Rate Mortgages (FRM):

The 30 year FRM set an all-time low averaging 4.01 percent with an average of 0.7 points, down from last week’s average of 4.09 percent. The 30 year FRM averaged 4.32 percent a year earlier.

Of the five regions that Freddie Mac surveys, the West region recorded the lowest average rate of 3.95 percent for a 30 year fixed rate mortgage.

The 15 year FRM also set a new low averaging 3.28 percent this week with an average 0.7 points, down from 3.29 percent reported the previous week, and down from 3.75 percent a year ago.

Adjustable Rate Mortgages (ARM):

ARM interest rates increased slightly this week with the 5-year Treasury-indexed hybrid ARM averaging 3.02 percent, unchanged from last week, with an average of 0.6 points. The 5 year ARM averaged 3.52 percent a year earlier.

The 1-year Treasury-indexed ARM increased one basis point, averaging 2.83 percent this week with an average of 0.6 points, up from 2.82 percent the previous week. A year ago, the 1 year ARM averaged 3.48 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Fixed mortgage rates fell to all-time record lows this week following the Federal Reserve’s announcement of its Maturity Extension Program and additional purchases of mortgage-backed securities. Interest rates for ARMs, however, were nearly unchanged as the Federal Reserve plans to sell $400 billion in short-term Treasury securities, which serve as benchmarks for many ARMs.”

“Meanwhile, the spring and summer home-buying season gave a boost to a number of house price indexes. The Federal Housing Finance Agency reported that its National index (not seasonally adjusted) rose for the fourth consecutive month in July. Similarly, the S&P/Case-Shiller® 20-City composite index, which has a broader scope of properties, rose 0.9 percent between June and July with 17 of the cities experiencing positive monthly growth. Finally, CoreLogic® reported that its index, excluding distressed sales, increased at a 1.7 percent monthly rate for the same month,” he added.

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 4.01 4.01 4.09 4.02 4.08 3.95
Fees & Points 0.7 0.7 0.8 0.6 0.7 0.8

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.28 3.28 3.30 3.28 3.36 3.25
Fees & Points 0.7 0.7 0.8 0.4 0.7 0.7

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.02 3.10 3.00 3.15 3.05 2.88
Fees & Points 0.6 0.6 0.6 0.4 0.7 0.6
Margin 2.74 2.74 2.75 2.73 2.76 2.73

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.83 2.90 2.72 3.14 2.71 2.70
Fees & Points 0.6 0.7 0.6 0.4 0.6 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 4.32   3.75   3.52   3.48   4.09   3.29   3.02   2.82  
Fees & Points 0.8   0.7   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.