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Mortgage Rates: Little Movement From Prior Week
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You're Now Reading:
Mortgage Rates: Little Movement From Prior 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
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Mortgage Rates: Little Movement From Prior Week
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July 28, 2011 (Shirley Allen)

Treasury yields bounced back this week, but remained under three percent, and weak housing and economic data left mortgage rates virtually unchanged from the previous week according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS).

Fixed Rate Mortgages (FRM):

Thirty year and the 15 year FRMs languished at the same general levels they did last week with the 30 year FRM averaging 4.55 percent with an average of 0.8 points, up from 4.52 percent reported the previous week. The 30 year FRM averaged 4.54 percent a year earlier.

The 15 year FRM averaged 3.66 percent this week with an average 0.7 points, the same rate reported the previous week, and down from 4.00 percent a year ago.

Adjustable Rate Mortgages (ARM):

ARM interest rates both dropped two basis points in the last week as the 5-year Treasury-indexed hybrid ARM averaged 3.25 percent, with an average of 0.6 points, which was down from 3.27 percent the previous week. The 5 year ARM averaged 3.76 percent a year earlier.

The 1-year Treasury-indexed ARM averaged 2.95 percent this week with an average of 0.5 points, down from 2.97 percent the previous week. A year ago, the 1 year ARM averaged 3.70 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Macroeconomic data released this week were a mixed bag. On the positive side, the index of leading indicators in June rose for the second consecutive month, beating the market consensus forecast. Partly offsetting this, orders for durable goods were weaker than market expectations for the same month. The net effect on mortgage interest rates was very little change from the prior week.”

“Seasonal home buying is beginning to prop up house price indexes across the nation. For instance, the S&P/Case-Shiller® 20-City Composite index (not seasonally-adjusted) rose for the second consecutive month in May to the highest reading since January. In addition, 17 of the 20 cities exhibited increases, led by a 2.7 percent monthly gain in Boston and a 2.6 percent rise in Minneapolis. Compared to a year ago, though, values were lower in 19 of the 20 markets as of May; bucking the trend elsewhere, the Washington, DC metro area posted a 1.3 percent gain in prices over the past year,” he added.

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 4.55 4.58 4.55 4.59 4.58 4.48
Fees & Points 0.8 0.7 0.8 0.6 0.7 0.8

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.66 3.67 3.69 3.67 3.76 3.59
Fees & Points 0.7 0.7 0.8 0.6 0.6 0.8

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.25 3.38 3.13 3.39 3.29 3.09
Fees & Points 0.6 0.5 0.8 0.3 0.6 0.7
Margin 2.74 2.75 2.75 2.71 2.76 2.74

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.95 3.06 2.80 3.20 2.92 2.78
Fees & Points 0.5 0.5 0.5 0.3 0.8 0.5
Margin 2.76 2.79 2.75 2.72 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 4.54   4.00   3.76   3.64   4.52   3.66   3.27   2.97  
Fees & Points 0.7   0.7   0.7   0.7   0.7   0.7   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

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ADVANTAGES OF USING
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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.
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.
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Rates

July 28, 2011 (Shirley Allen)

Treasury yields bounced back this week, but remained under three percent, and weak housing and economic data left mortgage rates virtually unchanged from the previous week according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS).

Fixed Rate Mortgages (FRM):

Thirty year and the 15 year FRMs languished at the same general levels they did last week with the 30 year FRM averaging 4.55 percent with an average of 0.8 points, up from 4.52 percent reported the previous week. The 30 year FRM averaged 4.54 percent a year earlier.

The 15 year FRM averaged 3.66 percent this week with an average 0.7 points, the same rate reported the previous week, and down from 4.00 percent a year ago.

Adjustable Rate Mortgages (ARM):

ARM interest rates both dropped two basis points in the last week as the 5-year Treasury-indexed hybrid ARM averaged 3.25 percent, with an average of 0.6 points, which was down from 3.27 percent the previous week. The 5 year ARM averaged 3.76 percent a year earlier.

The 1-year Treasury-indexed ARM averaged 2.95 percent this week with an average of 0.5 points, down from 2.97 percent the previous week. A year ago, the 1 year ARM averaged 3.70 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Macroeconomic data released this week were a mixed bag. On the positive side, the index of leading indicators in June rose for the second consecutive month, beating the market consensus forecast. Partly offsetting this, orders for durable goods were weaker than market expectations for the same month. The net effect on mortgage interest rates was very little change from the prior week.”

“Seasonal home buying is beginning to prop up house price indexes across the nation. For instance, the S&P/Case-Shiller® 20-City Composite index (not seasonally-adjusted) rose for the second consecutive month in May to the highest reading since January. In addition, 17 of the 20 cities exhibited increases, led by a 2.7 percent monthly gain in Boston and a 2.6 percent rise in Minneapolis. Compared to a year ago, though, values were lower in 19 of the 20 markets as of May; bucking the trend elsewhere, the Washington, DC metro area posted a 1.3 percent gain in prices over the past year,” he added.

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 4.55 4.58 4.55 4.59 4.58 4.48
Fees & Points 0.8 0.7 0.8 0.6 0.7 0.8

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.66 3.67 3.69 3.67 3.76 3.59
Fees & Points 0.7 0.7 0.8 0.6 0.6 0.8

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.25 3.38 3.13 3.39 3.29 3.09
Fees & Points 0.6 0.5 0.8 0.3 0.6 0.7
Margin 2.74 2.75 2.75 2.71 2.76 2.74

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.95 3.06 2.80 3.20 2.92 2.78
Fees & Points 0.5 0.5 0.5 0.3 0.8 0.5
Margin 2.76 2.79 2.75 2.72 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 4.54   4.00   3.76   3.64   4.52   3.66   3.27   2.97  
Fees & Points 0.7   0.7   0.7   0.7   0.7   0.7   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.

July 28, 2011 (Shirley Allen)

Treasury yields bounced back this week, but remained under three percent, and weak housing and economic data left mortgage rates virtually unchanged from the previous week according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS).

Fixed Rate Mortgages (FRM):

Thirty year and the 15 year FRMs languished at the same general levels they did last week with the 30 year FRM averaging 4.55 percent with an average of 0.8 points, up from 4.52 percent reported the previous week. The 30 year FRM averaged 4.54 percent a year earlier.

The 15 year FRM averaged 3.66 percent this week with an average 0.7 points, the same rate reported the previous week, and down from 4.00 percent a year ago.

Adjustable Rate Mortgages (ARM):

ARM interest rates both dropped two basis points in the last week as the 5-year Treasury-indexed hybrid ARM averaged 3.25 percent, with an average of 0.6 points, which was down from 3.27 percent the previous week. The 5 year ARM averaged 3.76 percent a year earlier.

The 1-year Treasury-indexed ARM averaged 2.95 percent this week with an average of 0.5 points, down from 2.97 percent the previous week. A year ago, the 1 year ARM averaged 3.70 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Macroeconomic data released this week were a mixed bag. On the positive side, the index of leading indicators in June rose for the second consecutive month, beating the market consensus forecast. Partly offsetting this, orders for durable goods were weaker than market expectations for the same month. The net effect on mortgage interest rates was very little change from the prior week.”

“Seasonal home buying is beginning to prop up house price indexes across the nation. For instance, the S&P/Case-Shiller® 20-City Composite index (not seasonally-adjusted) rose for the second consecutive month in May to the highest reading since January. In addition, 17 of the 20 cities exhibited increases, led by a 2.7 percent monthly gain in Boston and a 2.6 percent rise in Minneapolis. Compared to a year ago, though, values were lower in 19 of the 20 markets as of May; bucking the trend elsewhere, the Washington, DC metro area posted a 1.3 percent gain in prices over the past year,” he added.

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 4.55 4.58 4.55 4.59 4.58 4.48
Fees & Points 0.8 0.7 0.8 0.6 0.7 0.8

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.66 3.67 3.69 3.67 3.76 3.59
Fees & Points 0.7 0.7 0.8 0.6 0.6 0.8

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.25 3.38 3.13 3.39 3.29 3.09
Fees & Points 0.6 0.5 0.8 0.3 0.6 0.7
Margin 2.74 2.75 2.75 2.71 2.76 2.74

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.95 3.06 2.80 3.20 2.92 2.78
Fees & Points 0.5 0.5 0.5 0.3 0.8 0.5
Margin 2.76 2.79 2.75 2.72 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 4.54   4.00   3.76   3.64   4.52   3.66   3.27   2.97  
Fees & Points 0.7   0.7   0.7   0.7   0.7   0.7   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.