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Mortgage Interest Rates Increase Slightly for Second Week
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You're Now Reading:
Mortgage Interest Rates Increase Slightly for Second Week
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 Increase Slightly for Second Week
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March 31, 2011 (Shirley Allen)
mortage-backup-image
Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), which shows interest rates increasing slightly with the 30-year fixed sitting at 4.86 percent, up five basis points from the previous week. However, rates still continue to remain lower than at the same time last year and are still historically low.

  • 30-year fixed-rate mortgage (FRM) averaged 4.86 percent with an average 0.7 point for the week ending March 31, 2011, up from last week when it averaged 4.81 percent. Last year at this time, the 30-year FRM averaged 5.08 percent.  
  • 15-year FRM this week averaged 4.09 percent with an average 0.7 point, up from last week when it averaged 4.04 percent. A year ago at this time, the 15-year FRM averaged 4.39 percent.  
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.70 percent this week, with an average 0.7 point, up from last week when it averaged 3.62 percent. A year ago, the 5-year ARM averaged 4.10 percent.
  • 1-year Treasury-indexed ARM averaged 3.26 percent this week with an average 0.6 point, up from last week when it averaged 3.21 percent. At this time last year, the 1-year ARM averaged 4.05 percent.  

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Fixed mortgage rates rose slightly for a second week in a row, but continue to remain quite low.  Low rates have benefited from relatively benign inflation reports. Inflation as measured by the 12-month growth in the core price index for consumer spending, a metric preferred by the Federal Reserve, is hovering near the lowest pace since 1960 when this data series began.

And…

“Sales of distressed properties continue to place downward pressure on house prices. In January, these homes accounted for 37 percent of existing home sales and rose to 39 percent in February, based on figures from the National Association of Realtors®. House prices were down 3.1 percent in January from the same month last year according to the S&P/Case-Shiller® Home Price Indices.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 4.86 4.88 4.83 4.88 4.87 4.84
Fees & Points 0.7 0.7 0.9 0.6 0.6 0.8

 

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 4.09 4.12 4.11 4.07 4.17 4.05
Fees & Points 0.7 0.7 0.9 0.6 0.6 0.8

 

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.70 3.88 3.65 3.61 3.69 3.61
Fees & Points 0.7 0.5 0.8 0.5 0.6 0.9
Margin 2.74 2.74 2.75 2.71 2.77 2.73

 

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.26 3.36 3.09 3.59 3.23 3.07
Fees & Points 0.6 0.5 0.7 0.3 0.8 0.7
Margin 2.76 2.79 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 5.08   4.39   4.10   4.05   4.81   4.04   3.62   3.21  
Fees & Points 0.7   0.6   0.6   0.6   0.7   0.7   0.6   0.6  
Margin N/A N/A 2.75   2.75   N/A N/A 2.74   2.76  

Tags: 15 year fixed, 30 year fixed, fixed rate mortgage, freddie mac, interest rates, mortgage rates

Sources:
Freddie Mac
Apple (Image)

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.
Home Buying
Tips
Home Selling
Tips
About
Mortgages
Mortgage
Calculator
Mortgage
Rates

March 31, 2011 (Shirley Allen)
mortage-backup-image
Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), which shows interest rates increasing slightly with the 30-year fixed sitting at 4.86 percent, up five basis points from the previous week. However, rates still continue to remain lower than at the same time last year and are still historically low.

  • 30-year fixed-rate mortgage (FRM) averaged 4.86 percent with an average 0.7 point for the week ending March 31, 2011, up from last week when it averaged 4.81 percent. Last year at this time, the 30-year FRM averaged 5.08 percent.  
  • 15-year FRM this week averaged 4.09 percent with an average 0.7 point, up from last week when it averaged 4.04 percent. A year ago at this time, the 15-year FRM averaged 4.39 percent.  
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.70 percent this week, with an average 0.7 point, up from last week when it averaged 3.62 percent. A year ago, the 5-year ARM averaged 4.10 percent.
  • 1-year Treasury-indexed ARM averaged 3.26 percent this week with an average 0.6 point, up from last week when it averaged 3.21 percent. At this time last year, the 1-year ARM averaged 4.05 percent.  

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Fixed mortgage rates rose slightly for a second week in a row, but continue to remain quite low.  Low rates have benefited from relatively benign inflation reports. Inflation as measured by the 12-month growth in the core price index for consumer spending, a metric preferred by the Federal Reserve, is hovering near the lowest pace since 1960 when this data series began.

And…

“Sales of distressed properties continue to place downward pressure on house prices. In January, these homes accounted for 37 percent of existing home sales and rose to 39 percent in February, based on figures from the National Association of Realtors®. House prices were down 3.1 percent in January from the same month last year according to the S&P/Case-Shiller® Home Price Indices.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 4.86 4.88 4.83 4.88 4.87 4.84
Fees & Points 0.7 0.7 0.9 0.6 0.6 0.8

 

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 4.09 4.12 4.11 4.07 4.17 4.05
Fees & Points 0.7 0.7 0.9 0.6 0.6 0.8

 

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.70 3.88 3.65 3.61 3.69 3.61
Fees & Points 0.7 0.5 0.8 0.5 0.6 0.9
Margin 2.74 2.74 2.75 2.71 2.77 2.73

 

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.26 3.36 3.09 3.59 3.23 3.07
Fees & Points 0.6 0.5 0.7 0.3 0.8 0.7
Margin 2.76 2.79 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 5.08   4.39   4.10   4.05   4.81   4.04   3.62   3.21  
Fees & Points 0.7   0.6   0.6   0.6   0.7   0.7   0.6   0.6  
Margin N/A N/A 2.75   2.75   N/A N/A 2.74   2.76  

Tags: 15 year fixed, 30 year fixed, fixed rate mortgage, freddie mac, interest rates, mortgage rates

Sources:
Freddie Mac
Apple (Image)

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 31, 2011 (Shirley Allen)
mortage-backup-image
Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), which shows interest rates increasing slightly with the 30-year fixed sitting at 4.86 percent, up five basis points from the previous week. However, rates still continue to remain lower than at the same time last year and are still historically low.

  • 30-year fixed-rate mortgage (FRM) averaged 4.86 percent with an average 0.7 point for the week ending March 31, 2011, up from last week when it averaged 4.81 percent. Last year at this time, the 30-year FRM averaged 5.08 percent.  
  • 15-year FRM this week averaged 4.09 percent with an average 0.7 point, up from last week when it averaged 4.04 percent. A year ago at this time, the 15-year FRM averaged 4.39 percent.  
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.70 percent this week, with an average 0.7 point, up from last week when it averaged 3.62 percent. A year ago, the 5-year ARM averaged 4.10 percent.
  • 1-year Treasury-indexed ARM averaged 3.26 percent this week with an average 0.6 point, up from last week when it averaged 3.21 percent. At this time last year, the 1-year ARM averaged 4.05 percent.  

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Fixed mortgage rates rose slightly for a second week in a row, but continue to remain quite low.  Low rates have benefited from relatively benign inflation reports. Inflation as measured by the 12-month growth in the core price index for consumer spending, a metric preferred by the Federal Reserve, is hovering near the lowest pace since 1960 when this data series began.

And…

“Sales of distressed properties continue to place downward pressure on house prices. In January, these homes accounted for 37 percent of existing home sales and rose to 39 percent in February, based on figures from the National Association of Realtors®. House prices were down 3.1 percent in January from the same month last year according to the S&P/Case-Shiller® Home Price Indices.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 4.86 4.88 4.83 4.88 4.87 4.84
Fees & Points 0.7 0.7 0.9 0.6 0.6 0.8

 

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 4.09 4.12 4.11 4.07 4.17 4.05
Fees & Points 0.7 0.7 0.9 0.6 0.6 0.8

 

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.70 3.88 3.65 3.61 3.69 3.61
Fees & Points 0.7 0.5 0.8 0.5 0.6 0.9
Margin 2.74 2.74 2.75 2.71 2.77 2.73

 

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.26 3.36 3.09 3.59 3.23 3.07
Fees & Points 0.6 0.5 0.7 0.3 0.8 0.7
Margin 2.76 2.79 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 5.08   4.39   4.10   4.05   4.81   4.04   3.62   3.21  
Fees & Points 0.7   0.6   0.6   0.6   0.7   0.7   0.6   0.6  
Margin N/A N/A 2.75   2.75   N/A N/A 2.74   2.76  

Tags: 15 year fixed, 30 year fixed, fixed rate mortgage, freddie mac, interest rates, mortgage rates

Sources:
Freddie Mac
Apple (Image)

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.