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Mortgage Interest Rates Hold Steady on Mixed Economic News
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You're Now Reading:
Mortgage Interest Rates Hold Steady on Mixed Economic News
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 Hold Steady on Mixed Economic News
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October 20, 2011 (Shirley Allen)

A mixed bag of economic news kept average mortgage rates virtually unchanged from the previous week according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS).

Fixed Rate Mortgages (FRM):

FRM interest rates remained virtually unchanged from last week with the 30 year FRM averaging 4.11 percent with an average of 0.8 points, down from last week’s average of 4.12 percent. The 30 year FRM averaged 4.21 percent a year earlier.

The 15 year FRM averaged 3.38 percent this week with an average 0.8 points, up from 3.37 percent reported the previous week, and down from 3.64 percent a year ago.

Adjustable Rate Mortgages (ARM):

ARM interest rates were mixed again this week with the 5-year Treasury-indexed hybrid ARM averaging 3.01 percent, down from 3.06 percent last week, with an average of 0.6 points. The 5 year ARM averaged 3.45 percent a year earlier.

The 1-year Treasury-indexed ARM decreased this week, averaging 2.94 percent with an average of 0.6 points, up from 2.90 percent the previous week. A year ago, the 1 year ARM averaged 3.30 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Mortgage rates remained relatively unchanged this week amid mixed economic data reports. Retail sales were up 1.1 percent in September, almost four times the pace set in August, but consumer sentiment was down in October, according to the Thomson Reuters/University of Michigan index. Finally, in its October 9th regional economic review, the Federal Reserve reported that overall economic activity continued to expand in September, but contacts noted weaker or less certain outlooks for business conditions.”

“The home construction industry had some good news for a change. The National Association of Home Builders/Wells Fargo Housing Market Index jumped four points in October, the largest one-month gain since April 2010. Housing starts sprang up 15 percent in September, largely driven by a spike in multifamily starts to a level last seen in 2008. Building permits on 5-or-more unit buildings fell by 13 percent, however, suggesting that the multifamily building pickup may be temporary,” he added.

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 4.11 4.10 4.17 4.12 4.13 4.06
Fees & Points 0.8 0.8 0.8 0.7 0.8 0.9

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.38 3.38 3.40 3.38 3.42 3.35
Fees & Points 0.8 0.7 0.8 0.6 0.8 0.8

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.01 3.08 2.97 3.13 2.96 2.90
Fees & Points 0.6 0.6 0.6 0.5 0.7 0.7
Margin 2.74 2.75 2.75 2.73 2.76 2.73

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.94 3.00 2.84 3.50 2.71 2.70
Fees & Points 0.6 0.8 0.6 0.4 0.6 0.5
Margin 2.76 2.79 2.75 2.74 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 4.21   3.64   3.45   3.30   4.12   3.37   3.06   2.90  
Fees & Points 0.8   0.7   0.6   0.7   0.8   0.8   0.6   0.6  
Margin N/A N/A 2.76   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

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ADVANTAGES OF USING
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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
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October 20, 2011 (Shirley Allen)

A mixed bag of economic news kept average mortgage rates virtually unchanged from the previous week according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS).

Fixed Rate Mortgages (FRM):

FRM interest rates remained virtually unchanged from last week with the 30 year FRM averaging 4.11 percent with an average of 0.8 points, down from last week’s average of 4.12 percent. The 30 year FRM averaged 4.21 percent a year earlier.

The 15 year FRM averaged 3.38 percent this week with an average 0.8 points, up from 3.37 percent reported the previous week, and down from 3.64 percent a year ago.

Adjustable Rate Mortgages (ARM):

ARM interest rates were mixed again this week with the 5-year Treasury-indexed hybrid ARM averaging 3.01 percent, down from 3.06 percent last week, with an average of 0.6 points. The 5 year ARM averaged 3.45 percent a year earlier.

The 1-year Treasury-indexed ARM decreased this week, averaging 2.94 percent with an average of 0.6 points, up from 2.90 percent the previous week. A year ago, the 1 year ARM averaged 3.30 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Mortgage rates remained relatively unchanged this week amid mixed economic data reports. Retail sales were up 1.1 percent in September, almost four times the pace set in August, but consumer sentiment was down in October, according to the Thomson Reuters/University of Michigan index. Finally, in its October 9th regional economic review, the Federal Reserve reported that overall economic activity continued to expand in September, but contacts noted weaker or less certain outlooks for business conditions.”

“The home construction industry had some good news for a change. The National Association of Home Builders/Wells Fargo Housing Market Index jumped four points in October, the largest one-month gain since April 2010. Housing starts sprang up 15 percent in September, largely driven by a spike in multifamily starts to a level last seen in 2008. Building permits on 5-or-more unit buildings fell by 13 percent, however, suggesting that the multifamily building pickup may be temporary,” he added.

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 4.11 4.10 4.17 4.12 4.13 4.06
Fees & Points 0.8 0.8 0.8 0.7 0.8 0.9

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.38 3.38 3.40 3.38 3.42 3.35
Fees & Points 0.8 0.7 0.8 0.6 0.8 0.8

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.01 3.08 2.97 3.13 2.96 2.90
Fees & Points 0.6 0.6 0.6 0.5 0.7 0.7
Margin 2.74 2.75 2.75 2.73 2.76 2.73

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.94 3.00 2.84 3.50 2.71 2.70
Fees & Points 0.6 0.8 0.6 0.4 0.6 0.5
Margin 2.76 2.79 2.75 2.74 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 4.21   3.64   3.45   3.30   4.12   3.37   3.06   2.90  
Fees & Points 0.8   0.7   0.6   0.7   0.8   0.8   0.6   0.6  
Margin N/A N/A 2.76   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.

October 20, 2011 (Shirley Allen)

A mixed bag of economic news kept average mortgage rates virtually unchanged from the previous week according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS).

Fixed Rate Mortgages (FRM):

FRM interest rates remained virtually unchanged from last week with the 30 year FRM averaging 4.11 percent with an average of 0.8 points, down from last week’s average of 4.12 percent. The 30 year FRM averaged 4.21 percent a year earlier.

The 15 year FRM averaged 3.38 percent this week with an average 0.8 points, up from 3.37 percent reported the previous week, and down from 3.64 percent a year ago.

Adjustable Rate Mortgages (ARM):

ARM interest rates were mixed again this week with the 5-year Treasury-indexed hybrid ARM averaging 3.01 percent, down from 3.06 percent last week, with an average of 0.6 points. The 5 year ARM averaged 3.45 percent a year earlier.

The 1-year Treasury-indexed ARM decreased this week, averaging 2.94 percent with an average of 0.6 points, up from 2.90 percent the previous week. A year ago, the 1 year ARM averaged 3.30 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Mortgage rates remained relatively unchanged this week amid mixed economic data reports. Retail sales were up 1.1 percent in September, almost four times the pace set in August, but consumer sentiment was down in October, according to the Thomson Reuters/University of Michigan index. Finally, in its October 9th regional economic review, the Federal Reserve reported that overall economic activity continued to expand in September, but contacts noted weaker or less certain outlooks for business conditions.”

“The home construction industry had some good news for a change. The National Association of Home Builders/Wells Fargo Housing Market Index jumped four points in October, the largest one-month gain since April 2010. Housing starts sprang up 15 percent in September, largely driven by a spike in multifamily starts to a level last seen in 2008. Building permits on 5-or-more unit buildings fell by 13 percent, however, suggesting that the multifamily building pickup may be temporary,” he added.

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 4.11 4.10 4.17 4.12 4.13 4.06
Fees & Points 0.8 0.8 0.8 0.7 0.8 0.9

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.38 3.38 3.40 3.38 3.42 3.35
Fees & Points 0.8 0.7 0.8 0.6 0.8 0.8

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.01 3.08 2.97 3.13 2.96 2.90
Fees & Points 0.6 0.6 0.6 0.5 0.7 0.7
Margin 2.74 2.75 2.75 2.73 2.76 2.73

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.94 3.00 2.84 3.50 2.71 2.70
Fees & Points 0.6 0.8 0.6 0.4 0.6 0.5
Margin 2.76 2.79 2.75 2.74 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 4.21   3.64   3.45   3.30   4.12   3.37   3.06   2.90  
Fees & Points 0.8   0.7   0.6   0.7   0.8   0.8   0.6   0.6  
Margin N/A N/A 2.76   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.