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Fixed Rate Mortgages Reach New Lows, ARMs Mixed
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You're Now Reading:
Fixed Rate Mortgages Reach New Lows, ARMs Mixed
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:
Fixed Rate Mortgages Reach New Lows, ARMs Mixed
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Mortgage Rates

July 13, 2012 (Shirley Allen)

Mortgage rates for fixed rate loans fell for yet another week as yields on Treasury Bonds also continued to decline due to global and national economic uncertainty according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending July 12th.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages declined to new record lows again this week, with the 30-year fixed rate averaging 3.56 percent with an average of 0.7 points, down from 3.62 the previous week. It was the 16th consecutive week that mortgage rates have been under 4.00 percent. A year ago, the 30-year fixed rate mortgage averaged 4.51 percent.

The 15-year fixed rate mortgage also set a new record low average of 2.86 percent with an average of 0.7 points, down from last week’s average of 2.89 percent. Mortgage rates for the 15-year fixed mortgage have been under 3.00 percent for seven consecutive weeks. At this time last year, the 15-year fixed rate mortgage averaged 3.65 percent.

Adjustable Rate Mortgages:

Interest rates for adjustable mortgages were mixed this week with the 5-year Treasury-indexed hybrid ARM averaging 2.74 percent, with an average of 0.6 points, down from 2.79 percent the previous week. The 5-year adjustable rate mortgage averaged 3.29 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage averaged 2.69 percent with an average of 0.5 points, up slightly from last week’s average of 2.68. A year ago, the 1-year adjustable rate mortgage averaged 2.95 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Following a lackluster employment report for June, long-term U.S. Treasury bond yields eased somewhat this week allowing fixed mortgage rates to reach yet another record low. Only 80,000 net new jobs were added to the economy last month, not enough to lower the unemployment rate from 8.2 percent. This was the concern of the Federal Reserve’s monetary policy meeting held June 19-20. Minutes released from that meeting on July 11, revealed that a few members felt further monetary stimulus was needed to promote satisfactory growth in employment to meet the Committee’s goal.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.56 3.61 3.55 3.54 3.57 3.53
Fees & Points 0.7 0.6 0.7 0.7 0.7 0.7

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 2.86 2.89 2.85 2.85 2.84 2.85
Fees & Points 0.7 0.7 0.7 0.6 0.7 0.7

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.74 2.73 2.76 2.81 2.73 2.70
Fees & Points 0.6 0.6 0.6 0.5 0.7 0.6
Margin 2.74 2.74 2.75 2.72 2.77 2.74

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.69 2.69 2.67 2.69 2.73 2.66
Fees & Points 0.4 0.6 0.5 0.3 0.5 0.4
Margin 2.75 2.78 2.75 2.72 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 4.51   3.65   3.29   2.95   3.62   2.89   2.79   2.68  
Fees & Points 0.7   0.6   0.6   0.5   0.8   0.7   0.6   0.5  
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
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Rates

July 13, 2012 (Shirley Allen)

Mortgage rates for fixed rate loans fell for yet another week as yields on Treasury Bonds also continued to decline due to global and national economic uncertainty according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending July 12th.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages declined to new record lows again this week, with the 30-year fixed rate averaging 3.56 percent with an average of 0.7 points, down from 3.62 the previous week. It was the 16th consecutive week that mortgage rates have been under 4.00 percent. A year ago, the 30-year fixed rate mortgage averaged 4.51 percent.

The 15-year fixed rate mortgage also set a new record low average of 2.86 percent with an average of 0.7 points, down from last week’s average of 2.89 percent. Mortgage rates for the 15-year fixed mortgage have been under 3.00 percent for seven consecutive weeks. At this time last year, the 15-year fixed rate mortgage averaged 3.65 percent.

Adjustable Rate Mortgages:

Interest rates for adjustable mortgages were mixed this week with the 5-year Treasury-indexed hybrid ARM averaging 2.74 percent, with an average of 0.6 points, down from 2.79 percent the previous week. The 5-year adjustable rate mortgage averaged 3.29 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage averaged 2.69 percent with an average of 0.5 points, up slightly from last week’s average of 2.68. A year ago, the 1-year adjustable rate mortgage averaged 2.95 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Following a lackluster employment report for June, long-term U.S. Treasury bond yields eased somewhat this week allowing fixed mortgage rates to reach yet another record low. Only 80,000 net new jobs were added to the economy last month, not enough to lower the unemployment rate from 8.2 percent. This was the concern of the Federal Reserve’s monetary policy meeting held June 19-20. Minutes released from that meeting on July 11, revealed that a few members felt further monetary stimulus was needed to promote satisfactory growth in employment to meet the Committee’s goal.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.56 3.61 3.55 3.54 3.57 3.53
Fees & Points 0.7 0.6 0.7 0.7 0.7 0.7

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 2.86 2.89 2.85 2.85 2.84 2.85
Fees & Points 0.7 0.7 0.7 0.6 0.7 0.7

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.74 2.73 2.76 2.81 2.73 2.70
Fees & Points 0.6 0.6 0.6 0.5 0.7 0.6
Margin 2.74 2.74 2.75 2.72 2.77 2.74

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.69 2.69 2.67 2.69 2.73 2.66
Fees & Points 0.4 0.6 0.5 0.3 0.5 0.4
Margin 2.75 2.78 2.75 2.72 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 4.51   3.65   3.29   2.95   3.62   2.89   2.79   2.68  
Fees & Points 0.7   0.6   0.6   0.5   0.8   0.7   0.6   0.5  
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.

July 13, 2012 (Shirley Allen)

Mortgage rates for fixed rate loans fell for yet another week as yields on Treasury Bonds also continued to decline due to global and national economic uncertainty according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending July 12th.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages declined to new record lows again this week, with the 30-year fixed rate averaging 3.56 percent with an average of 0.7 points, down from 3.62 the previous week. It was the 16th consecutive week that mortgage rates have been under 4.00 percent. A year ago, the 30-year fixed rate mortgage averaged 4.51 percent.

The 15-year fixed rate mortgage also set a new record low average of 2.86 percent with an average of 0.7 points, down from last week’s average of 2.89 percent. Mortgage rates for the 15-year fixed mortgage have been under 3.00 percent for seven consecutive weeks. At this time last year, the 15-year fixed rate mortgage averaged 3.65 percent.

Adjustable Rate Mortgages:

Interest rates for adjustable mortgages were mixed this week with the 5-year Treasury-indexed hybrid ARM averaging 2.74 percent, with an average of 0.6 points, down from 2.79 percent the previous week. The 5-year adjustable rate mortgage averaged 3.29 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage averaged 2.69 percent with an average of 0.5 points, up slightly from last week’s average of 2.68. A year ago, the 1-year adjustable rate mortgage averaged 2.95 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Following a lackluster employment report for June, long-term U.S. Treasury bond yields eased somewhat this week allowing fixed mortgage rates to reach yet another record low. Only 80,000 net new jobs were added to the economy last month, not enough to lower the unemployment rate from 8.2 percent. This was the concern of the Federal Reserve’s monetary policy meeting held June 19-20. Minutes released from that meeting on July 11, revealed that a few members felt further monetary stimulus was needed to promote satisfactory growth in employment to meet the Committee’s goal.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.56 3.61 3.55 3.54 3.57 3.53
Fees & Points 0.7 0.6 0.7 0.7 0.7 0.7

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 2.86 2.89 2.85 2.85 2.84 2.85
Fees & Points 0.7 0.7 0.7 0.6 0.7 0.7

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.74 2.73 2.76 2.81 2.73 2.70
Fees & Points 0.6 0.6 0.6 0.5 0.7 0.6
Margin 2.74 2.74 2.75 2.72 2.77 2.74

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.69 2.69 2.67 2.69 2.73 2.66
Fees & Points 0.4 0.6 0.5 0.3 0.5 0.4
Margin 2.75 2.78 2.75 2.72 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 4.51   3.65   3.29   2.95   3.62   2.89   2.79   2.68  
Fees & Points 0.7   0.6   0.6   0.5   0.8   0.7   0.6   0.5  
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.