Mortgage Rates Edge Slightly Higher

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Mortgage Rates Edge Slightly Higher

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The Easy Way to Shop For a Mortgage Loan

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Mortgage Rates Edge Slightly Higher

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March 17, 2011 (Chris Moore)
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Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), which shows rates edging slightly higher from the previous week influenced by inflationary and ongoing geopolitical concerns. Rates still at historically low levels.

30-year fixed-rate mortgage (FRM) averaged 4.81 percent with an average 0.7 point for the week ending March 24, 2011, up from last week when it averaged 4.76 percent. Last year at this time, the 30-year FRM averaged 4.99 percent.

15-year FRM this week averaged 4.04 percent with an average 0.7 point, up from last week when it averaged 3.97 percent. A year ago at this time, the 15-year FRM averaged 4.34 percent.

5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.62 percent this week, with an average 0.6 point, up from last week when it averaged 3.57 percent. A year ago, the 5-year ARM averaged 4.14 percent.

1-year Treasury-indexed ARM averaged 3.21 percent this week with an average 0.6 point, up from last week when it averaged 3.17 percent. At this time last year, the 1-year ARM averaged 4.2 percent.

Frank Nothaft, vice president and chief economist, Freddie Mac, stated, “Mortgage rates were up this week compared to last, but still remain at relatively low levels. The rate uptick was related to higher than anticipated inflation data for February and ongoing geopolitical concerns. The 12-month growth rate in the consumer price index rose 2.1 percent in February, compared to 1.6 percent in January; however, most of the increase was due to food and energy prices, which tend to be volatile. The core index rose 1.1 percent, slightly up from 1.0 percent in January.”

And…

“The housing market recovery experienced a setback during the start of this year. Existing home sales fell 9.6 percent from January to February and were down 2.8 percent from February 2010. Sales of new homes declined for the second consecutive month in February to record lows dating back to 1963. Even new construction on one-family homes fell 11.8 percent in February to the third slowest pace since 1959.”

	30-Yr FRM	15-Yr FRM	5/1-Yr ARM	1-Yr ARM
Average Rates	4.81 %	4.04 %	3.62 %	3.21 %
Fees & Points	0.7	0.7	0.6	0.6
Margin	N/A	N/A	2.74	2.76

30-Year Fixed Rate Mortgages	US	NE	SE	NC	SW	W
Average	4.81	4.82	4.81	4.86	4.86	4.77
Fees & Points	0.7	0.7	0.8	0.6	0.6	0.7

15-Year Fixed Rate Mortgages	US	NE	SE	NC	SW	W
Average	4.04	4.04	4.07	4.04	4.15	3.98
Fees & Points	0.7	0.7	0.8	0.5	0.6	0.7

5/1-Year Adjustable Rate Mortgages	US	NE	SE	NC	SW	W
Average	3.62	3.80	3.45	3.59	3.69	3.51
Fees & Points	0.6	0.6	0.7	0.4	0.6	0.8
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	3.21	3.28	3.02	3.58	3.23	3.02
Fees & Points	0.6	0.6	0.7	0.3	0.8	0.7
Margin	2.76	2.80	2.75	2.72	2.77	2.75

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

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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.

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Home Buying
Tips

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Tips

About
Mortgages

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Calculator

Mortgage
Rates

30-year fixed-rate mortgage (FRM) averaged 4.81 percent with an average 0.7 point for the week ending March 24, 2011, up from last week when it averaged 4.76 percent. Last year at this time, the 30-year FRM averaged 4.99 percent.

15-year FRM this week averaged 4.04 percent with an average 0.7 point, up from last week when it averaged 3.97 percent. A year ago at this time, the 15-year FRM averaged 4.34 percent.

5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.62 percent this week, with an average 0.6 point, up from last week when it averaged 3.57 percent. A year ago, the 5-year ARM averaged 4.14 percent.

1-year Treasury-indexed ARM averaged 3.21 percent this week with an average 0.6 point, up from last week when it averaged 3.17 percent. At this time last year, the 1-year ARM averaged 4.2 percent.

And…

	30-Yr FRM	15-Yr FRM	5/1-Yr ARM	1-Yr ARM
Average Rates	4.81 %	4.04 %	3.62 %	3.21 %
Fees & Points	0.7	0.7	0.6	0.6
Margin	N/A	N/A	2.74	2.76

30-Year Fixed Rate Mortgages	US	NE	SE	NC	SW	W
Average	4.81	4.82	4.81	4.86	4.86	4.77
Fees & Points	0.7	0.7	0.8	0.6	0.6	0.7

15-Year Fixed Rate Mortgages	US	NE	SE	NC	SW	W
Average	4.04	4.04	4.07	4.04	4.15	3.98
Fees & Points	0.7	0.7	0.8	0.5	0.6	0.7

5/1-Year Adjustable Rate Mortgages	US	NE	SE	NC	SW	W
Average	3.62	3.80	3.45	3.59	3.69	3.51
Fees & Points	0.6	0.6	0.7	0.4	0.6	0.8
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	3.21	3.28	3.02	3.58	3.23	3.02
Fees & Points	0.6	0.6	0.7	0.3	0.8	0.7
Margin	2.76	2.80	2.75	2.72	2.77	2.75

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

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

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.

30-year fixed-rate mortgage (FRM) averaged 4.81 percent with an average 0.7 point for the week ending March 24, 2011, up from last week when it averaged 4.76 percent. Last year at this time, the 30-year FRM averaged 4.99 percent.

15-year FRM this week averaged 4.04 percent with an average 0.7 point, up from last week when it averaged 3.97 percent. A year ago at this time, the 15-year FRM averaged 4.34 percent.

5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.62 percent this week, with an average 0.6 point, up from last week when it averaged 3.57 percent. A year ago, the 5-year ARM averaged 4.14 percent.

1-year Treasury-indexed ARM averaged 3.21 percent this week with an average 0.6 point, up from last week when it averaged 3.17 percent. At this time last year, the 1-year ARM averaged 4.2 percent.

And…

	30-Yr FRM	15-Yr FRM	5/1-Yr ARM	1-Yr ARM
Average Rates	4.81 %	4.04 %	3.62 %	3.21 %
Fees & Points	0.7	0.7	0.6	0.6
Margin	N/A	N/A	2.74	2.76

30-Year Fixed Rate Mortgages	US	NE	SE	NC	SW	W
Average	4.81	4.82	4.81	4.86	4.86	4.77
Fees & Points	0.7	0.7	0.8	0.6	0.6	0.7

15-Year Fixed Rate Mortgages	US	NE	SE	NC	SW	W
Average	4.04	4.04	4.07	4.04	4.15	3.98
Fees & Points	0.7	0.7	0.8	0.5	0.6	0.7

5/1-Year Adjustable Rate Mortgages	US	NE	SE	NC	SW	W
Average	3.62	3.80	3.45	3.59	3.69	3.51
Fees & Points	0.6	0.6	0.7	0.4	0.6	0.8
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	3.21	3.28	3.02	3.58	3.23	3.02
Fees & Points	0.6	0.6	0.7	0.3	0.8	0.7
Margin	2.76	2.80	2.75	2.72	2.77	2.75

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

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

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.