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Mortgage Interest Rates Rise Sharply After Jobs Report
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You're Now Reading:
Mortgage Interest Rates Rise Sharply After Jobs Report
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 Rise Sharply After Jobs Report
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Mortgage Rates

October 13, 2011 (Shirley Allen)

The effects of the Federal Reserve’s latest economic maneuver were overshadowed by a stronger than expected jobs report last week pushing Treasury yields and mortgage rates higher according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS).

Fixed Rate Mortgages (FRM):

FRM interest rates jumped sharply last week with the 30 year FRM averaging 4.12 percent with an average of 0.8 points, up from last week’s average of 3.94 percent. The 30 year FRM averaged 4.19 percent a year earlier.

The 15 year FRM averaged 3.37 percent this week with an average of 0.8 points, up from 3.26 percent reported the previous week, and down from 3.62 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 3.02 percent, up from 2.96 percent last week, with an average of 0.6 points. The 5 year ARM averaged 3.47 percent a year earlier.

The 1-year Treasury-indexed ARM decreased this week, averaging 2.90 percent with an average of 0.6 points, down from 2.95 percent the previous week. A year ago, the 1 year ARM averaged 3.43 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “An employment report that was better than market expectations helped to lift long-term Treasury bond yields and mortgage rates as well. The economy added 103,000 workers in September, aided by the return of striking Verizon workers. In addition, revisions to July and August figures added a total of 99,000 jobs to payrolls. However, these job gains are still not large enough to bring down the current unemployment rate of 9.1 percent.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 4.12 4.12 4.17 4.08 4.15 4.09
Fees & Points 0.8 0.9 0.9 0.6 0.8 0.9

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.37 3.37 3.37 3.33 3.43 3.36
Fees & Points 0.8 0.9 1.0 0.6 0.9 0.9

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.06 3.12 3.03 3.19 3.06 2.94
Fees & Points 0.6 0.7 0.6 0.4 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 2.90 2.90 2.84 3.45 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 2.73 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 4.19   3.62   3.47   3.43   3.94   3.26   2.96   2.95  
Fees & Points 0.8   0.7   0.6   0.8   0.8   0.8   0.6   0.5  
Margin N/A N/A 2.74   2.76   N/A N/A 2.75   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
Mortgage
Calculator
Mortgage
Rates

October 13, 2011 (Shirley Allen)

The effects of the Federal Reserve’s latest economic maneuver were overshadowed by a stronger than expected jobs report last week pushing Treasury yields and mortgage rates higher according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS).

Fixed Rate Mortgages (FRM):

FRM interest rates jumped sharply last week with the 30 year FRM averaging 4.12 percent with an average of 0.8 points, up from last week’s average of 3.94 percent. The 30 year FRM averaged 4.19 percent a year earlier.

The 15 year FRM averaged 3.37 percent this week with an average of 0.8 points, up from 3.26 percent reported the previous week, and down from 3.62 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 3.02 percent, up from 2.96 percent last week, with an average of 0.6 points. The 5 year ARM averaged 3.47 percent a year earlier.

The 1-year Treasury-indexed ARM decreased this week, averaging 2.90 percent with an average of 0.6 points, down from 2.95 percent the previous week. A year ago, the 1 year ARM averaged 3.43 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “An employment report that was better than market expectations helped to lift long-term Treasury bond yields and mortgage rates as well. The economy added 103,000 workers in September, aided by the return of striking Verizon workers. In addition, revisions to July and August figures added a total of 99,000 jobs to payrolls. However, these job gains are still not large enough to bring down the current unemployment rate of 9.1 percent.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 4.12 4.12 4.17 4.08 4.15 4.09
Fees & Points 0.8 0.9 0.9 0.6 0.8 0.9

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.37 3.37 3.37 3.33 3.43 3.36
Fees & Points 0.8 0.9 1.0 0.6 0.9 0.9

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.06 3.12 3.03 3.19 3.06 2.94
Fees & Points 0.6 0.7 0.6 0.4 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 2.90 2.90 2.84 3.45 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 2.73 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 4.19   3.62   3.47   3.43   3.94   3.26   2.96   2.95  
Fees & Points 0.8   0.7   0.6   0.8   0.8   0.8   0.6   0.5  
Margin N/A N/A 2.74   2.76   N/A N/A 2.75   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 13, 2011 (Shirley Allen)

The effects of the Federal Reserve’s latest economic maneuver were overshadowed by a stronger than expected jobs report last week pushing Treasury yields and mortgage rates higher according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS).

Fixed Rate Mortgages (FRM):

FRM interest rates jumped sharply last week with the 30 year FRM averaging 4.12 percent with an average of 0.8 points, up from last week’s average of 3.94 percent. The 30 year FRM averaged 4.19 percent a year earlier.

The 15 year FRM averaged 3.37 percent this week with an average of 0.8 points, up from 3.26 percent reported the previous week, and down from 3.62 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 3.02 percent, up from 2.96 percent last week, with an average of 0.6 points. The 5 year ARM averaged 3.47 percent a year earlier.

The 1-year Treasury-indexed ARM decreased this week, averaging 2.90 percent with an average of 0.6 points, down from 2.95 percent the previous week. A year ago, the 1 year ARM averaged 3.43 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “An employment report that was better than market expectations helped to lift long-term Treasury bond yields and mortgage rates as well. The economy added 103,000 workers in September, aided by the return of striking Verizon workers. In addition, revisions to July and August figures added a total of 99,000 jobs to payrolls. However, these job gains are still not large enough to bring down the current unemployment rate of 9.1 percent.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 4.12 4.12 4.17 4.08 4.15 4.09
Fees & Points 0.8 0.9 0.9 0.6 0.8 0.9

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.37 3.37 3.37 3.33 3.43 3.36
Fees & Points 0.8 0.9 1.0 0.6 0.9 0.9

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.06 3.12 3.03 3.19 3.06 2.94
Fees & Points 0.6 0.7 0.6 0.4 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 2.90 2.90 2.84 3.45 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 2.73 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 4.19   3.62   3.47   3.43   3.94   3.26   2.96   2.95  
Fees & Points 0.8   0.7   0.6   0.8   0.8   0.8   0.6   0.5  
Margin N/A N/A 2.74   2.76   N/A N/A 2.75   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.