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Mortgage Rates on FHFA Contracts Fall in May
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You're Now Reading:
Mortgage Rates on FHFA Contracts Fall in May
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 on FHFA Contracts Fall in May
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The average interest rates for conventional 30-year fixed rate mortgages fell from 3.77 percent in April to 3.58 percent in May according to the Federal Housing Finance Agency’s (FHFA) Monthly Interest Rate Survey.

The results of the survey reflect loans closed during the May 27-31 period from 29 lenders and data from 7,529 mortgage loans. Since mortgage loans typically take 30-45 to close, the reported rates reflect market conditions in mid to late April.

The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders, used to index some ARM contracts, declined to 3.40 percent from 3.55 percent in April.

The effective mortgage interest rate, which includes initial fees and charges over the first ten years of a mortgage loan also declined, falling to 3.57 percent from 3.69 percent in April.

The average loan amount for a 30-year fixed rate mortgage was $280,600 in May, up from $266,500 in April, an increase of 5.3 percent.

FHFA Interest rate Survey Jun 13

Tags: FHFA, mortgage interest rates, purchase money mortgages, initial fees and charges, points, mortgage loan, ARM, no-points mortgage

Source:
FHFA

Reported by Jeff Alan

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

The average interest rates for conventional 30-year fixed rate mortgages fell from 3.77 percent in April to 3.58 percent in May according to the Federal Housing Finance Agency’s (FHFA) Monthly Interest Rate Survey.

The results of the survey reflect loans closed during the May 27-31 period from 29 lenders and data from 7,529 mortgage loans. Since mortgage loans typically take 30-45 to close, the reported rates reflect market conditions in mid to late April.

The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders, used to index some ARM contracts, declined to 3.40 percent from 3.55 percent in April.

The effective mortgage interest rate, which includes initial fees and charges over the first ten years of a mortgage loan also declined, falling to 3.57 percent from 3.69 percent in April.

The average loan amount for a 30-year fixed rate mortgage was $280,600 in May, up from $266,500 in April, an increase of 5.3 percent.

FHFA Interest rate Survey Jun 13

Tags: FHFA, mortgage interest rates, purchase money mortgages, initial fees and charges, points, mortgage loan, ARM, no-points mortgage

Source:
FHFA

Reported by Jeff Alan

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.

The average interest rates for conventional 30-year fixed rate mortgages fell from 3.77 percent in April to 3.58 percent in May according to the Federal Housing Finance Agency’s (FHFA) Monthly Interest Rate Survey.

The results of the survey reflect loans closed during the May 27-31 period from 29 lenders and data from 7,529 mortgage loans. Since mortgage loans typically take 30-45 to close, the reported rates reflect market conditions in mid to late April.

The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders, used to index some ARM contracts, declined to 3.40 percent from 3.55 percent in April.

The effective mortgage interest rate, which includes initial fees and charges over the first ten years of a mortgage loan also declined, falling to 3.57 percent from 3.69 percent in April.

The average loan amount for a 30-year fixed rate mortgage was $280,600 in May, up from $266,500 in April, an increase of 5.3 percent.

FHFA Interest rate Survey Jun 13

Tags: FHFA, mortgage interest rates, purchase money mortgages, initial fees and charges, points, mortgage loan, ARM, no-points mortgage

Source:
FHFA

Reported by Jeff Alan

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.