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Mortgage Interest Rates Decline Slightly Last Week, New Lows Expected
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You're Now Reading:
Mortgage Interest Rates Decline Slightly Last Week, New Lows Expected
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:
Mortgage Interest Rates Decline Slightly Last Week, New Lows Expected
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Mortgage Rates

September 26, 2011 (Shirley Allen)

Mortgage interest rates declined slightly last week with the 5/1 ARM hitting yet another record low and the latest economic actions taken by the Fed could lead to even lower mortgage rates in the coming weeks and months according to the data collected by LendingTree’s Weekly Mortgage Rate Pulse.

With the announcement by the Federal Reserve of its latest economic plan to bolster the sagging economy, mortgage interest rates are expected to hit or remain at record lows in the coming weeks and months. The Fed’s plan is to essentially swap $400 billion in short term debt for the same amount in long term debt with the anticipated affect of lowering Treasury Bond yields, which mortgage interest rates generally follow.

The day after the Fed announced its new plan, 10-year Treasury yields fell to record lows which could lead to some pretty favorable reports concerning interest rates later in the week, especially if you’re looking to refinance.

Fixed Rate Mortgages as of September 20, 2011:

The average home loan rates offered for 30 year fixed rate mortgages was 4.34 percent (4.56% APR), which was down from 4.37 percent the previous week.

The lowest mortgage rate offered for a 30 year fixed rate mortgage was 3.75 percent (3.88% APR), which was unchanged from the rate offered the week before.

The average home loan rates offered for 15 year fixed rate mortgages was 3.59 percent (3.87% APR), down from 3.61 percent reported the previous week

The lowest mortgage rate offered for a 15 year fixed rate mortgage was 2.875 percent (3.11% APR), which also remained unchanged from the week before.

Adjustable Rate Mortgages as of September 20, 2011:

The average home loan rate offered for 5/1 adjustable rate mortgages was 3.24 percent (3.50% APR), which was down from 3.34 percent reported last week.

The lowest mortgage rate offered for a 5/1 adjustable rate mortgage was 2.375 percent (3.04% APR), which was down from 2.5 percent the week before.

See how your state compares below by comparing mortgage data including a snapshot of the lowest 30-year fixed rates offered by lenders, average loan-to-value ratio and percentage of consumers with negative equity:

STATE-BY-STATE MORTGAGE DATA 9/20/11

*Updated Quarterly

STATE

LOWEST MORTGAGE RATE

LOAN-TO-VALUE RATIO*

NEGATIVE EQUITY*

US Average

3.75% (3.88% APR)

69.8%

33.5%

Alabama

3.75% (3.88% APR)

68.0%

29.5%

Alaska

3.88% (4.00% APR)

65.8%

19.5%

Arizona

3.75% (3.88% APR)

93.1%

38.9%

Arkansas

3.88% (3.99% APR)

72.3%

43.0%

California

3.88% (4.00% APR)

70.0%

34.4%

Colorado

3.75% (3.88% APR)

72.3%

22.9%

Connecticut

3.75% (3.87% APR)

60.2%

43.4%

Delaware

3.75% (3.84% APR)

67.3%

38.8%

District of Columbia

3.75% (3.88% APR)

58.6%

26.8%

Florida

3.75% (3.88% APR)

87.8%

38.9%

Georgia

3.88% (4.00% APR)

80.9%

26.5%

Hawaii

4.00% (4.12% APR)

53.9%

27.0%

Idaho

3.75% (3.88% APR)

71.7%

30.3%

Illinois

3.88% (4.00% APR)

72.4%

32.3%

Indiana

3.75% (3.85% APR)

69.4%

28.4%

Iowa

4.38% (4.51% APR)

67.3%

44.2%

Kansas

4.38% (4.51% APR)

70.3%

32.2%

Kentucky

3.75% (3.88% APR)

67.9%

52.7%

Louisiana

4.38% (4.51% APR)

75.2%

82.4%

Maine

3.88% (3.99% APR)

58.3%

30.7%

Maryland

3.75% (3.84% APR)

70.3%

25.9%

Massachusetts

3.88% (4.00% APR)

61.9%

47.0%

Michigan

3.88% (4.00% APR)

84.0%

33.4%

Minnesota

3.75% (3.85% APR)

66.8%

22.7%

Mississippi

4.38% (4.51% APR)

78.2%

29.2%

Missouri

3.88% (4.00% APR)

71.9%

32.4%

Montana

4.38% (4.51% APR)

60.3%

33.9%

Nebraska

4.38% (4.51% APR)

73.4%

44.7%

Nevada

3.88% (4.00% APR)

112.7%

53.7%

New Hampshire

3.88% (3.99% APR)

70.3%

26.2%

New Jersey

3.75% (3.84% APR)

62.8%

29.9%

New Mexico

3.75% (3.88% APR)

67.9%

45.9%

New York

3.75% (3.85% APR)

48.7%

36.0%

North Carolina

3.75% (3.88% APR)

71.6%

32.4%

North Dakota

4.38% (4.51% APR)

61.1%

36.3%

Ohio

3.88% (4.00% APR)

75.8%

27.5%

Oklahoma

3.88% (3.99% APR)

71.8%

50.6%

Oregon

3.88% (4.03% APR)

69.8%

19.9%

Pennsylvania

3.75% (3.84% APR)

61.1%

42.0%

Rhode Island

4.38% (4.51% APR)

63.7%

38.7%

South Carolina

3.88% (4.00% APR)

71.5%

28.9%

South Dakota

3.88% (3.99% APR)

N/A

N/A

Tennessee

3.88% (4.00% APR)

71.6%

29.9%

Texas

3.88% (4.00% APR)

68.1%

31.6%

Utah

3.88% (4.00% APR)

72.9%

22.8%

Vermont

4.38% (4.51% APR)

N/A

N/A

Virginia

3.75% (3.85% APR)

71.7%

25.1%

Washington

3.88% (4.00% APR)

68.3%

21.7%

West Virginia

4.38% (4.51% APR)

66.8%

50.6%

Wisconsin

4.38% (4.51% APR)

69.1%

36.0%

Wyoming

3.88% (4.01% APR)

63.1%

24.2%

Lowest mortgage interest rates shown reflect the payment of one discount point. Mortgage interest rates will vary based on the borrower’s loan details and credit profile.

Source:

Tags: lendingtree, mortgage rates, mortgage loans, average home rates, 30 year fixed, 15 year fixed, 5/1 arm, adjustable rate mortgage, fixed mortgage, lenders

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
About
Mortgages
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Calculator
Mortgage
Rates

September 26, 2011 (Shirley Allen)

Mortgage interest rates declined slightly last week with the 5/1 ARM hitting yet another record low and the latest economic actions taken by the Fed could lead to even lower mortgage rates in the coming weeks and months according to the data collected by LendingTree’s Weekly Mortgage Rate Pulse.

With the announcement by the Federal Reserve of its latest economic plan to bolster the sagging economy, mortgage interest rates are expected to hit or remain at record lows in the coming weeks and months. The Fed’s plan is to essentially swap $400 billion in short term debt for the same amount in long term debt with the anticipated affect of lowering Treasury Bond yields, which mortgage interest rates generally follow.

The day after the Fed announced its new plan, 10-year Treasury yields fell to record lows which could lead to some pretty favorable reports concerning interest rates later in the week, especially if you’re looking to refinance.

Fixed Rate Mortgages as of September 20, 2011:

The average home loan rates offered for 30 year fixed rate mortgages was 4.34 percent (4.56% APR), which was down from 4.37 percent the previous week.

The lowest mortgage rate offered for a 30 year fixed rate mortgage was 3.75 percent (3.88% APR), which was unchanged from the rate offered the week before.

The average home loan rates offered for 15 year fixed rate mortgages was 3.59 percent (3.87% APR), down from 3.61 percent reported the previous week

The lowest mortgage rate offered for a 15 year fixed rate mortgage was 2.875 percent (3.11% APR), which also remained unchanged from the week before.

Adjustable Rate Mortgages as of September 20, 2011:

The average home loan rate offered for 5/1 adjustable rate mortgages was 3.24 percent (3.50% APR), which was down from 3.34 percent reported last week.

The lowest mortgage rate offered for a 5/1 adjustable rate mortgage was 2.375 percent (3.04% APR), which was down from 2.5 percent the week before.

See how your state compares below by comparing mortgage data including a snapshot of the lowest 30-year fixed rates offered by lenders, average loan-to-value ratio and percentage of consumers with negative equity:

STATE-BY-STATE MORTGAGE DATA 9/20/11

*Updated Quarterly

STATE

LOWEST MORTGAGE RATE

LOAN-TO-VALUE RATIO*

NEGATIVE EQUITY*

US Average

3.75% (3.88% APR)

69.8%

33.5%

Alabama

3.75% (3.88% APR)

68.0%

29.5%

Alaska

3.88% (4.00% APR)

65.8%

19.5%

Arizona

3.75% (3.88% APR)

93.1%

38.9%

Arkansas

3.88% (3.99% APR)

72.3%

43.0%

California

3.88% (4.00% APR)

70.0%

34.4%

Colorado

3.75% (3.88% APR)

72.3%

22.9%

Connecticut

3.75% (3.87% APR)

60.2%

43.4%

Delaware

3.75% (3.84% APR)

67.3%

38.8%

District of Columbia

3.75% (3.88% APR)

58.6%

26.8%

Florida

3.75% (3.88% APR)

87.8%

38.9%

Georgia

3.88% (4.00% APR)

80.9%

26.5%

Hawaii

4.00% (4.12% APR)

53.9%

27.0%

Idaho

3.75% (3.88% APR)

71.7%

30.3%

Illinois

3.88% (4.00% APR)

72.4%

32.3%

Indiana

3.75% (3.85% APR)

69.4%

28.4%

Iowa

4.38% (4.51% APR)

67.3%

44.2%

Kansas

4.38% (4.51% APR)

70.3%

32.2%

Kentucky

3.75% (3.88% APR)

67.9%

52.7%

Louisiana

4.38% (4.51% APR)

75.2%

82.4%

Maine

3.88% (3.99% APR)

58.3%

30.7%

Maryland

3.75% (3.84% APR)

70.3%

25.9%

Massachusetts

3.88% (4.00% APR)

61.9%

47.0%

Michigan

3.88% (4.00% APR)

84.0%

33.4%

Minnesota

3.75% (3.85% APR)

66.8%

22.7%

Mississippi

4.38% (4.51% APR)

78.2%

29.2%

Missouri

3.88% (4.00% APR)

71.9%

32.4%

Montana

4.38% (4.51% APR)

60.3%

33.9%

Nebraska

4.38% (4.51% APR)

73.4%

44.7%

Nevada

3.88% (4.00% APR)

112.7%

53.7%

New Hampshire

3.88% (3.99% APR)

70.3%

26.2%

New Jersey

3.75% (3.84% APR)

62.8%

29.9%

New Mexico

3.75% (3.88% APR)

67.9%

45.9%

New York

3.75% (3.85% APR)

48.7%

36.0%

North Carolina

3.75% (3.88% APR)

71.6%

32.4%

North Dakota

4.38% (4.51% APR)

61.1%

36.3%

Ohio

3.88% (4.00% APR)

75.8%

27.5%

Oklahoma

3.88% (3.99% APR)

71.8%

50.6%

Oregon

3.88% (4.03% APR)

69.8%

19.9%

Pennsylvania

3.75% (3.84% APR)

61.1%

42.0%

Rhode Island

4.38% (4.51% APR)

63.7%

38.7%

South Carolina

3.88% (4.00% APR)

71.5%

28.9%

South Dakota

3.88% (3.99% APR)

N/A

N/A

Tennessee

3.88% (4.00% APR)

71.6%

29.9%

Texas

3.88% (4.00% APR)

68.1%

31.6%

Utah

3.88% (4.00% APR)

72.9%

22.8%

Vermont

4.38% (4.51% APR)

N/A

N/A

Virginia

3.75% (3.85% APR)

71.7%

25.1%

Washington

3.88% (4.00% APR)

68.3%

21.7%

West Virginia

4.38% (4.51% APR)

66.8%

50.6%

Wisconsin

4.38% (4.51% APR)

69.1%

36.0%

Wyoming

3.88% (4.01% APR)

63.1%

24.2%

Lowest mortgage interest rates shown reflect the payment of one discount point. Mortgage interest rates will vary based on the borrower’s loan details and credit profile.

Source:

Tags: lendingtree, mortgage rates, mortgage loans, average home rates, 30 year fixed, 15 year fixed, 5/1 arm, adjustable rate mortgage, fixed mortgage, lenders

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 26, 2011 (Shirley Allen)

Mortgage interest rates declined slightly last week with the 5/1 ARM hitting yet another record low and the latest economic actions taken by the Fed could lead to even lower mortgage rates in the coming weeks and months according to the data collected by LendingTree’s Weekly Mortgage Rate Pulse.

With the announcement by the Federal Reserve of its latest economic plan to bolster the sagging economy, mortgage interest rates are expected to hit or remain at record lows in the coming weeks and months. The Fed’s plan is to essentially swap $400 billion in short term debt for the same amount in long term debt with the anticipated affect of lowering Treasury Bond yields, which mortgage interest rates generally follow.

The day after the Fed announced its new plan, 10-year Treasury yields fell to record lows which could lead to some pretty favorable reports concerning interest rates later in the week, especially if you’re looking to refinance.

Fixed Rate Mortgages as of September 20, 2011:

The average home loan rates offered for 30 year fixed rate mortgages was 4.34 percent (4.56% APR), which was down from 4.37 percent the previous week.

The lowest mortgage rate offered for a 30 year fixed rate mortgage was 3.75 percent (3.88% APR), which was unchanged from the rate offered the week before.

The average home loan rates offered for 15 year fixed rate mortgages was 3.59 percent (3.87% APR), down from 3.61 percent reported the previous week

The lowest mortgage rate offered for a 15 year fixed rate mortgage was 2.875 percent (3.11% APR), which also remained unchanged from the week before.

Adjustable Rate Mortgages as of September 20, 2011:

The average home loan rate offered for 5/1 adjustable rate mortgages was 3.24 percent (3.50% APR), which was down from 3.34 percent reported last week.

The lowest mortgage rate offered for a 5/1 adjustable rate mortgage was 2.375 percent (3.04% APR), which was down from 2.5 percent the week before.

See how your state compares below by comparing mortgage data including a snapshot of the lowest 30-year fixed rates offered by lenders, average loan-to-value ratio and percentage of consumers with negative equity:

STATE-BY-STATE MORTGAGE DATA 9/20/11

*Updated Quarterly

STATE

LOWEST MORTGAGE RATE

LOAN-TO-VALUE RATIO*

NEGATIVE EQUITY*

US Average

3.75% (3.88% APR)

69.8%

33.5%

Alabama

3.75% (3.88% APR)

68.0%

29.5%

Alaska

3.88% (4.00% APR)

65.8%

19.5%

Arizona

3.75% (3.88% APR)

93.1%

38.9%

Arkansas

3.88% (3.99% APR)

72.3%

43.0%

California

3.88% (4.00% APR)

70.0%

34.4%

Colorado

3.75% (3.88% APR)

72.3%

22.9%

Connecticut

3.75% (3.87% APR)

60.2%

43.4%

Delaware

3.75% (3.84% APR)

67.3%

38.8%

District of Columbia

3.75% (3.88% APR)

58.6%

26.8%

Florida

3.75% (3.88% APR)

87.8%

38.9%

Georgia

3.88% (4.00% APR)

80.9%

26.5%

Hawaii

4.00% (4.12% APR)

53.9%

27.0%

Idaho

3.75% (3.88% APR)

71.7%

30.3%

Illinois

3.88% (4.00% APR)

72.4%

32.3%

Indiana

3.75% (3.85% APR)

69.4%

28.4%

Iowa

4.38% (4.51% APR)

67.3%

44.2%

Kansas

4.38% (4.51% APR)

70.3%

32.2%

Kentucky

3.75% (3.88% APR)

67.9%

52.7%

Louisiana

4.38% (4.51% APR)

75.2%

82.4%

Maine

3.88% (3.99% APR)

58.3%

30.7%

Maryland

3.75% (3.84% APR)

70.3%

25.9%

Massachusetts

3.88% (4.00% APR)

61.9%

47.0%

Michigan

3.88% (4.00% APR)

84.0%

33.4%

Minnesota

3.75% (3.85% APR)

66.8%

22.7%

Mississippi

4.38% (4.51% APR)

78.2%

29.2%

Missouri

3.88% (4.00% APR)

71.9%

32.4%

Montana

4.38% (4.51% APR)

60.3%

33.9%

Nebraska

4.38% (4.51% APR)

73.4%

44.7%

Nevada

3.88% (4.00% APR)

112.7%

53.7%

New Hampshire

3.88% (3.99% APR)

70.3%

26.2%

New Jersey

3.75% (3.84% APR)

62.8%

29.9%

New Mexico

3.75% (3.88% APR)

67.9%

45.9%

New York

3.75% (3.85% APR)

48.7%

36.0%

North Carolina

3.75% (3.88% APR)

71.6%

32.4%

North Dakota

4.38% (4.51% APR)

61.1%

36.3%

Ohio

3.88% (4.00% APR)

75.8%

27.5%

Oklahoma

3.88% (3.99% APR)

71.8%

50.6%

Oregon

3.88% (4.03% APR)

69.8%

19.9%

Pennsylvania

3.75% (3.84% APR)

61.1%

42.0%

Rhode Island

4.38% (4.51% APR)

63.7%

38.7%

South Carolina

3.88% (4.00% APR)

71.5%

28.9%

South Dakota

3.88% (3.99% APR)

N/A

N/A

Tennessee

3.88% (4.00% APR)

71.6%

29.9%

Texas

3.88% (4.00% APR)

68.1%

31.6%

Utah

3.88% (4.00% APR)

72.9%

22.8%

Vermont

4.38% (4.51% APR)

N/A

N/A

Virginia

3.75% (3.85% APR)

71.7%

25.1%

Washington

3.88% (4.00% APR)

68.3%

21.7%

West Virginia

4.38% (4.51% APR)

66.8%

50.6%

Wisconsin

4.38% (4.51% APR)

69.1%

36.0%

Wyoming

3.88% (4.01% APR)

63.1%

24.2%

Lowest mortgage interest rates shown reflect the payment of one discount point. Mortgage interest rates will vary based on the borrower’s loan details and credit profile.

Source:

Tags: lendingtree, mortgage rates, mortgage loans, average home rates, 30 year fixed, 15 year fixed, 5/1 arm, adjustable rate mortgage, fixed mortgage, lenders

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.