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Mortgage Interest Rates Remain Just Above Record Lows
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You're Now Reading:
Mortgage Interest Rates Remain Just Above Record Lows
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 Remain Just Above Record Lows
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About Mortgages
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Mortgage Rates

September 1, 2011 (Shirley Allen)

Weaker economic data kept mortgage rates near their 50 year lows while the 5/1 Treasury-indexed hybrid ARM reached a new low of 2.96 percent according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS).

Fixed Rate Mortgages (FRM):

Thirty year and the 15 year FRMs remained near their historic lows last week with the 30 year FRM averaging 4.22 percent, with an average of 0.7 points, unchanged from the previous week. The 30 year FRM averaged 4.32 percent a year earlier.

The 15 year FRM averaged 3.39 percent this week with an average 0.6 points, down from 3.44 percent reported the previous week, and down from 3.83 percent a year ago. The 15-year FRM reached its all-time low two weeks ago at 3.36 percent.

Adjustable Rate Mortgages (ARM):

ARM interest rates inched downward last week with the 5-year Treasury-indexed hybrid ARM falling for the fifth consecutive week to a new all-time low of 2.96 percent, with an average of 0.6 points, which was down from 3.07 percent the previous week. The 5 year ARM averaged 3.54 percent a year earlier.

The 1-year Treasury-indexed ARM averaged 2.89 percent this week with an average of 0.6 points, down from 2.93 percent the previous week. A year ago, the 1 year ARM averaged 3.50 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Weaker economic data reports eased upward pressure on mortgage rates this week and kept them at or near all-time record lows. The economy grew at a slower rate of 1 percent in the second quarter than was originally reported due to a smaller increase in inventories and fewer exports. In addition, consumer confidence in August fell to the lowest reading since April 2009, according to The Conference Board.”

“Recently released data on the housing market also showed less strength as well. The S&P/Case-Shiller® National Index fell 5.9 percent between the second quarters of 2010 and 2011, representing the largest yearly decrease since the third quarter of 2009. Moreover, July’s pending sales of existing homes fell at a monthly rate of 1.3 percent, the first decline since April 2011,” he added.

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 4.22 4.25 4.26 4.22 4.28 4.15
Fees & Points 0.7 0.7 0.8 0.5 0.7 0.8

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.39 3.42 3.41 3.32 3.47 3.34
Fees & Points 0.6 0.7 0.8 0.4 0.7 0.6

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.96 2.98 2.92 3.09 3.03 2.87
Fees & Points 0.6 0.6 0.7 0.3 0.7 0.6
Margin 2.74 2.75 2.75 2.72 2.76 2.73

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.89 3.25 2.66 2.95 2.79 2.68
Fees & Points 0.6 0.6 0.6 0.4 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 4.32   3.83   3.54   3.50   4.22   3.44   3.07   2.93  
Fees & Points 0.7   0.6   0.6   0.7   0.7   0.6   0.5   0.5  
Margin N/A N/A 2.75   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 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
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Calculator
Mortgage
Rates

September 1, 2011 (Shirley Allen)

Weaker economic data kept mortgage rates near their 50 year lows while the 5/1 Treasury-indexed hybrid ARM reached a new low of 2.96 percent according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS).

Fixed Rate Mortgages (FRM):

Thirty year and the 15 year FRMs remained near their historic lows last week with the 30 year FRM averaging 4.22 percent, with an average of 0.7 points, unchanged from the previous week. The 30 year FRM averaged 4.32 percent a year earlier.

The 15 year FRM averaged 3.39 percent this week with an average 0.6 points, down from 3.44 percent reported the previous week, and down from 3.83 percent a year ago. The 15-year FRM reached its all-time low two weeks ago at 3.36 percent.

Adjustable Rate Mortgages (ARM):

ARM interest rates inched downward last week with the 5-year Treasury-indexed hybrid ARM falling for the fifth consecutive week to a new all-time low of 2.96 percent, with an average of 0.6 points, which was down from 3.07 percent the previous week. The 5 year ARM averaged 3.54 percent a year earlier.

The 1-year Treasury-indexed ARM averaged 2.89 percent this week with an average of 0.6 points, down from 2.93 percent the previous week. A year ago, the 1 year ARM averaged 3.50 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Weaker economic data reports eased upward pressure on mortgage rates this week and kept them at or near all-time record lows. The economy grew at a slower rate of 1 percent in the second quarter than was originally reported due to a smaller increase in inventories and fewer exports. In addition, consumer confidence in August fell to the lowest reading since April 2009, according to The Conference Board.”

“Recently released data on the housing market also showed less strength as well. The S&P/Case-Shiller® National Index fell 5.9 percent between the second quarters of 2010 and 2011, representing the largest yearly decrease since the third quarter of 2009. Moreover, July’s pending sales of existing homes fell at a monthly rate of 1.3 percent, the first decline since April 2011,” he added.

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 4.22 4.25 4.26 4.22 4.28 4.15
Fees & Points 0.7 0.7 0.8 0.5 0.7 0.8

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.39 3.42 3.41 3.32 3.47 3.34
Fees & Points 0.6 0.7 0.8 0.4 0.7 0.6

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.96 2.98 2.92 3.09 3.03 2.87
Fees & Points 0.6 0.6 0.7 0.3 0.7 0.6
Margin 2.74 2.75 2.75 2.72 2.76 2.73

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.89 3.25 2.66 2.95 2.79 2.68
Fees & Points 0.6 0.6 0.6 0.4 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 4.32   3.83   3.54   3.50   4.22   3.44   3.07   2.93  
Fees & Points 0.7   0.6   0.6   0.7   0.7   0.6   0.5   0.5  
Margin N/A N/A 2.75   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.

September 1, 2011 (Shirley Allen)

Weaker economic data kept mortgage rates near their 50 year lows while the 5/1 Treasury-indexed hybrid ARM reached a new low of 2.96 percent according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS).

Fixed Rate Mortgages (FRM):

Thirty year and the 15 year FRMs remained near their historic lows last week with the 30 year FRM averaging 4.22 percent, with an average of 0.7 points, unchanged from the previous week. The 30 year FRM averaged 4.32 percent a year earlier.

The 15 year FRM averaged 3.39 percent this week with an average 0.6 points, down from 3.44 percent reported the previous week, and down from 3.83 percent a year ago. The 15-year FRM reached its all-time low two weeks ago at 3.36 percent.

Adjustable Rate Mortgages (ARM):

ARM interest rates inched downward last week with the 5-year Treasury-indexed hybrid ARM falling for the fifth consecutive week to a new all-time low of 2.96 percent, with an average of 0.6 points, which was down from 3.07 percent the previous week. The 5 year ARM averaged 3.54 percent a year earlier.

The 1-year Treasury-indexed ARM averaged 2.89 percent this week with an average of 0.6 points, down from 2.93 percent the previous week. A year ago, the 1 year ARM averaged 3.50 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Weaker economic data reports eased upward pressure on mortgage rates this week and kept them at or near all-time record lows. The economy grew at a slower rate of 1 percent in the second quarter than was originally reported due to a smaller increase in inventories and fewer exports. In addition, consumer confidence in August fell to the lowest reading since April 2009, according to The Conference Board.”

“Recently released data on the housing market also showed less strength as well. The S&P/Case-Shiller® National Index fell 5.9 percent between the second quarters of 2010 and 2011, representing the largest yearly decrease since the third quarter of 2009. Moreover, July’s pending sales of existing homes fell at a monthly rate of 1.3 percent, the first decline since April 2011,” he added.

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 4.22 4.25 4.26 4.22 4.28 4.15
Fees & Points 0.7 0.7 0.8 0.5 0.7 0.8

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.39 3.42 3.41 3.32 3.47 3.34
Fees & Points 0.6 0.7 0.8 0.4 0.7 0.6

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.96 2.98 2.92 3.09 3.03 2.87
Fees & Points 0.6 0.6 0.7 0.3 0.7 0.6
Margin 2.74 2.75 2.75 2.72 2.76 2.73

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.89 3.25 2.66 2.95 2.79 2.68
Fees & Points 0.6 0.6 0.6 0.4 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 4.32   3.83   3.54   3.50   4.22   3.44   3.07   2.93  
Fees & Points 0.7   0.6   0.6   0.7   0.7   0.6   0.5   0.5  
Margin N/A N/A 2.75   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.