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Mortgage Interest Rates Little Changed From Last Week
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Mortgage Interest Rates Little Changed From Last 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
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Receive Multiple Offers. Save Money.
You're Now Reading:
Mortgage Interest Rates Little Changed From Last Week
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June 23, 2011 (Shirley Allen)

Mortgage interest rates again remained virtually unchanged from last week with the 30 year fixed rate at 4.50 percent and the 15 year fixed rate nudging up to 3.69 percent according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS).

Fixed Rate Mortgages (FRM):

Thirty year and the 15 year FRMs again barely budged from the previous week with the 30 year FRM remaining unchanged at an average of 4.50 percent with an average 0.8 points, however, the effective rate was higher as last weeks rate was based on 0.7 points. Rates were down from 4.69 percent a year earlier.

The 15 year FRM averaged 3.69 this week with an average 0.7 points, up from an average of 3.67 last week and down from 4.13 percent a year ago.

Adjustable Rate Mortgages (ARM):

ARMs were also again mixed and barely moved in the last week as the 5-year Treasury-indexed hybrid ARM slid to 3.25 percent, which is down from 3.27 percent the previous week, with an average of 0.6 points. The 5 year ARM averaged 3.84 percent a year earlier.

The 1-year Treasury-indexed ARM increased this week to 2.99 percent, with an average of 0.5 points, from 2.97 percent the previous week. A year ago, the 1 year ARM averaged 3.77 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Mortgage rates were virtually unchanged this week amid further indications of a soft housing market. Although new construction on single-family homes ticked up in May from April, it was still below the overall pace set in 2010. Moreover, existing home sales fell 3.8 percent in May to the fewest since November 2010.”

“The Federal Reserve also reiterated that the housing sector continues to be depressed in its June 22nd policy committee statement. The S&P/Case-Shiller® National Home Price Index fell 2.1 percent between the fourth quarter of 2010 and first quarter 2011. Based on a recent survey by MarcoMarkets of 108 professional forecasters taken in early June, the index is predicted to decline another 1.5 percent by the fourth quarter of this year,” Nothaft added.

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 4.50 4.51 4.52 4.53 4.52 4.46
Fees & Points 0.8 0.7 0.9 0.7 0.7 0.8

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.69 3.69 3.72 3.71 3.79 3.64
Fees & Points 0.7 0.7 1.0 0.6 0.7 0.8

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.25 3.41 3.13 3.31 3.32 3.08
Fees & Points 0.6 0.5 0.8 0.4 0.5 0.6
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 2.99 3.20 2.83 3.16 2.94 2.80
Fees & Points 0.5 0.5 0.5 0.3 0.8 0.5
Margin 2.76 2.79 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 4.69   4.13   3.84   3.77   4.50   3.67   3.27   2.97  
Fees & Points 0.7   0.6   0.7   0.7   0.7   0.7   0.6   0.5  
Margin N/A N/A 2.74   2.74   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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June 23, 2011 (Shirley Allen)

Mortgage interest rates again remained virtually unchanged from last week with the 30 year fixed rate at 4.50 percent and the 15 year fixed rate nudging up to 3.69 percent according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS).

Fixed Rate Mortgages (FRM):

Thirty year and the 15 year FRMs again barely budged from the previous week with the 30 year FRM remaining unchanged at an average of 4.50 percent with an average 0.8 points, however, the effective rate was higher as last weeks rate was based on 0.7 points. Rates were down from 4.69 percent a year earlier.

The 15 year FRM averaged 3.69 this week with an average 0.7 points, up from an average of 3.67 last week and down from 4.13 percent a year ago.

Adjustable Rate Mortgages (ARM):

ARMs were also again mixed and barely moved in the last week as the 5-year Treasury-indexed hybrid ARM slid to 3.25 percent, which is down from 3.27 percent the previous week, with an average of 0.6 points. The 5 year ARM averaged 3.84 percent a year earlier.

The 1-year Treasury-indexed ARM increased this week to 2.99 percent, with an average of 0.5 points, from 2.97 percent the previous week. A year ago, the 1 year ARM averaged 3.77 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Mortgage rates were virtually unchanged this week amid further indications of a soft housing market. Although new construction on single-family homes ticked up in May from April, it was still below the overall pace set in 2010. Moreover, existing home sales fell 3.8 percent in May to the fewest since November 2010.”

“The Federal Reserve also reiterated that the housing sector continues to be depressed in its June 22nd policy committee statement. The S&P/Case-Shiller® National Home Price Index fell 2.1 percent between the fourth quarter of 2010 and first quarter 2011. Based on a recent survey by MarcoMarkets of 108 professional forecasters taken in early June, the index is predicted to decline another 1.5 percent by the fourth quarter of this year,” Nothaft added.

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 4.50 4.51 4.52 4.53 4.52 4.46
Fees & Points 0.8 0.7 0.9 0.7 0.7 0.8

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.69 3.69 3.72 3.71 3.79 3.64
Fees & Points 0.7 0.7 1.0 0.6 0.7 0.8

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.25 3.41 3.13 3.31 3.32 3.08
Fees & Points 0.6 0.5 0.8 0.4 0.5 0.6
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 2.99 3.20 2.83 3.16 2.94 2.80
Fees & Points 0.5 0.5 0.5 0.3 0.8 0.5
Margin 2.76 2.79 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 4.69   4.13   3.84   3.77   4.50   3.67   3.27   2.97  
Fees & Points 0.7   0.6   0.7   0.7   0.7   0.7   0.6   0.5  
Margin N/A N/A 2.74   2.74   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.

June 23, 2011 (Shirley Allen)

Mortgage interest rates again remained virtually unchanged from last week with the 30 year fixed rate at 4.50 percent and the 15 year fixed rate nudging up to 3.69 percent according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS).

Fixed Rate Mortgages (FRM):

Thirty year and the 15 year FRMs again barely budged from the previous week with the 30 year FRM remaining unchanged at an average of 4.50 percent with an average 0.8 points, however, the effective rate was higher as last weeks rate was based on 0.7 points. Rates were down from 4.69 percent a year earlier.

The 15 year FRM averaged 3.69 this week with an average 0.7 points, up from an average of 3.67 last week and down from 4.13 percent a year ago.

Adjustable Rate Mortgages (ARM):

ARMs were also again mixed and barely moved in the last week as the 5-year Treasury-indexed hybrid ARM slid to 3.25 percent, which is down from 3.27 percent the previous week, with an average of 0.6 points. The 5 year ARM averaged 3.84 percent a year earlier.

The 1-year Treasury-indexed ARM increased this week to 2.99 percent, with an average of 0.5 points, from 2.97 percent the previous week. A year ago, the 1 year ARM averaged 3.77 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Mortgage rates were virtually unchanged this week amid further indications of a soft housing market. Although new construction on single-family homes ticked up in May from April, it was still below the overall pace set in 2010. Moreover, existing home sales fell 3.8 percent in May to the fewest since November 2010.”

“The Federal Reserve also reiterated that the housing sector continues to be depressed in its June 22nd policy committee statement. The S&P/Case-Shiller® National Home Price Index fell 2.1 percent between the fourth quarter of 2010 and first quarter 2011. Based on a recent survey by MarcoMarkets of 108 professional forecasters taken in early June, the index is predicted to decline another 1.5 percent by the fourth quarter of this year,” Nothaft added.

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 4.50 4.51 4.52 4.53 4.52 4.46
Fees & Points 0.8 0.7 0.9 0.7 0.7 0.8

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.69 3.69 3.72 3.71 3.79 3.64
Fees & Points 0.7 0.7 1.0 0.6 0.7 0.8

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.25 3.41 3.13 3.31 3.32 3.08
Fees & Points 0.6 0.5 0.8 0.4 0.5 0.6
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 2.99 3.20 2.83 3.16 2.94 2.80
Fees & Points 0.5 0.5 0.5 0.3 0.8 0.5
Margin 2.76 2.79 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 4.69   4.13   3.84   3.77   4.50   3.67   3.27   2.97  
Fees & Points 0.7   0.6   0.7   0.7   0.7   0.7   0.6   0.5  
Margin N/A N/A 2.74   2.74   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.