December 28, 2011 (Shirley Allen)
Average mortgage interest rates for fixed rate mortgages edged upwards this week, the first time since mid-November, while interest rates on adjustable mortgages fell slightly according to the data collected by LendingTree’s Weekly Mortgage Rate Pulse.
Fixed Rate Mortgages as of December 27, 2011:
The average home loan rates offered for 30 year fixed rate mortgages increased this week to 4.34 percent (4.65% APR). The average home loan rate offered last week was 4.22 percent.
The lowest mortgage rate offered for a 30 year fixed rate mortgage was 3.75 percent (3.88% APR), up from 3.50 percent last week.
The average home loan rates offered for 15 year fixed rate mortgages increased to 3.56 percent (4.03% APR), up from last week’s average of 3.46 percent week.
The lowest mortgage rate offered for a 15 year fixed rate mortgage was 3.00 percent (3.11% APR). The lowest rate offered last week was 2.88 percent.
Adjustable Rate Mortgages as of December 27, 2011:
The average home loan rate offered for 5/1 adjustable rate mortgages decreased slightly to 3.20 percent (3.48% APR) this week. The average home loan rate offered last week was 3.23 percent.
The lowest mortgage rate offered for a 5/1 adjustable rate mortgage was 2.50 percent (3.04% APR), which remained unchanged from the previous week.
See how your state compares below by comparing mortgage data including a snapshot of the lowest 30-year fixed rates offered by lenders, average loan-to-value ratio and percentage of consumers with negative equity:
|
STATE-BY-STATE MORTGAGE DATA 12/27/11 *Updated Quarterly |
|||
|
STATE |
LOWEST MORTGAGE RATE |
LOAN-TO-VALUE RATIO* |
NEGATIVE EQUITY* |
|
US Average |
3.75% (3.88% APR) |
69.8% |
33.5% |
|
Alabama |
3.75% (3.88% APR) |
68.0% |
29.5% |
|
Alaska |
3.75% (3.88% APR) |
65.8% |
19.5% |
|
Arizona |
3.75% (3.88% APR) |
93.1% |
38.9% |
|
Arkansas |
3.75% (3.86% APR) |
72.3% |
43.0% |
|
California |
3.75% (3.88% APR) |
70.0% |
34.4% |
|
Colorado |
3.75% (3.88% APR) |
72.3% |
22.9% |
|
Connecticut |
3.75% (3.85% APR) |
60.2% |
43.4% |
|
Delaware |
3.75% (3.85% APR) |
67.3% |
38.8% |
|
District of Columbia |
3.75% (3.88% APR) |
58.6% |
26.8% |
|
Florida |
3.63% (3.73% APR) |
87.8% |
38.9% |
|
Georgia |
3.75% (3.88% APR) |
80.9% |
26.5% |
|
Hawaii |
3.75% (3.88% APR) |
53.9% |
27.0% |
|
Idaho |
3.75% (3.88% APR) |
71.7% |
30.3% |
|
Illinois |
3.75% (3.86% APR) |
72.4% |
32.3% |
|
Indiana |
3.75% (3.93% APR) |
69.4% |
28.4% |
|
Iowa |
3.75% (3.88% APR) |
67.3% |
44.2% |
|
Kansas |
3.75% (3.88% APR) |
70.3% |
32.2% |
|
Kentucky |
3.75% (3.89% APR) |
67.9% |
52.7% |
|
Louisiana |
3.75% (3.88% APR) |
75.2% |
82.4% |
|
Maine |
3.75% (3.86% APR) |
58.3% |
30.7% |
|
Maryland |
3.75% (3.84% APR) |
70.3% |
25.9% |
|
Massachusetts |
3.75% (3.86% APR) |
61.9% |
47.0% |
|
Michigan |
3.75% (3.88% APR) |
84.0% |
33.4% |
|
Minnesota |
3.75% (3.85% APR) |
66.8% |
22.7% |
|
Mississippi |
3.75% (3.87% APR) |
78.2% |
29.2% |
|
Missouri |
3.75% (3.88% APR) |
71.9% |
32.4% |
|
Montana |
3.75% (3.88% APR) |
60.3% |
33.9% |
|
Nebraska |
3.75% (3.88% APR) |
73.4% |
44.7% |
|
Nevada |
3.63% (3.75% APR) |
112.7% |
53.7% |
|
New Hampshire |
3.88% (3.99% APR) |
70.3% |
26.2% |
|
New Jersey |
3.75% (3.87% APR) |
62.8% |
29.9% |
|
New Mexico |
3.75% (3.88% APR) |
67.9% |
45.9% |
|
New York |
3.75% (3.85% APR) |
48.7% |
36.0% |
|
North Carolina |
3.75% (4.88% APR) |
71.6% |
32.4% |
|
North Dakota |
3.75% (3.88% APR) |
61.1% |
36.3% |
|
Ohio |
3.75% (3.86% APR) |
75.8% |
27.5% |
|
Oklahoma |
3.75% (3.86% APR) |
71.8% |
50.6% |
|
Oregon |
3.75% (3.88% APR) |
69.8% |
19.9% |
|
Pennsylvania |
3.75% (3.84% APR) |
61.1% |
42.0% |
|
Rhode Island |
3.75% (3.87% APR) |
63.7% |
38.7% |
|
South Carolina |
3.75% (3.86% APR) |
71.5% |
28.9% |
|
South Dakota |
3.75% (3.86% APR) |
N/A |
N/A |
|
Tennessee |
3.75% (3.89% APR) |
71.6% |
29.9% |
|
Texas |
3.75% (3.88% APR) |
68.1% |
31.6% |
|
Utah |
3.75% (3.88% APR) |
72.9% |
22.8% |
|
Vermont |
3.75% (3.88% APR) |
N/A |
N/A |
|
Virginia |
3.75% (3.85% APR) |
71.7% |
25.1% |
|
Washington |
3.75% (3.88% APR) |
68.3% |
21.7% |
|
West Virginia |
3.75% (3.85% APR) |
66.8% |
50.6% |
|
Wisconsin |
3.75% (3.85% APR) |
69.1% |
36.0% |
|
Wyoming |
3.75% (3.88% APR) |
63.1% |
24.2% |
Lowest mortgage interest rates shown reflect the payment of one discount point. Mortgage interest rates will vary based on the borrower’s loan details and credit profile.
Source:
