Mortgage Rates Remain Below Five Percent

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Mortgage Rates Remain Below Five Percent

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Mortgage Rates Remain Below Five Percent

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March 10, 2011 (Chris Moore)
mortgage-steady-image
Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), which shows mortgage rates holding steady and below 5.0 percent. Rates across the board remained below year-over-year levels.

30-year fixed-rate mortgage (FRM) averaged 4.88 percent with an average 0.7 point for the week ending March 10, 2011, up from last week when it averaged 4.87 percent. Last year at this time, the 30-year FRM averaged 4.95 percent.
15-year FRM this week averaged 4.15 percent with an average 0.7 point, the same from last week when it averaged 4.15 percent. A year ago at this time, the 15-year FRM averaged 4.32 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.73 percent this week, with an average 0.6 point, up from last week when it averaged 3.72 percent. A year ago, the 5-year ARM averaged 4.05 percent.

1-year Treasury-indexed ARM averaged 3.21 percent this week with an average 0.5 point, down from last week when it averaged 3.23 percent. At this time last year, the 1-year ARM averaged 4.22 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac stated, “Mortgage rates held steady amid a strong employment report. The private sector added 222,000 jobs in February, the most since March 2006 while the unemployment rate fell to 8.9 percent, the lowest share since April 2009.

And…

“Interest rates for 30-year fixed-rate mortgages have averaged at or below 5 percent in every week but one this year, contributing to record home affordability. The National Association of Realtors® Housing Affordability Index rose to an all-time record high in January, based on figures dating back to 1971. More recently, mortgage applications jumped almost 16 percent over the week ended March 4, 2011 representing the largest percent increase since the week of June 11, 2009.”

30-Year Fixed Rate Mortgages
	US	NE	SE	NC	SW	W
Average	4.88	4.90	4.85	4.93	4.91	4.83
Fees & Points	0.7	0.8	0.9	0.6	0.6	0.7

15-Year Fixed Rate Mortgages
	US	NE	SE	NC	SW	W
Average	4.15	4.17	4.14	4.17	4.25	4.10
Fees & Points	0.7	0.7	0.9	0.5	0.6	0.7

5/1-Year Adjustable Rate Mortgages
	US	NE	SE	NC	SW	W
Average	3.73	3.92	3.59	3.68	3.76	3.63
Fees & Points	0.6	0.6	0.8	0.4	0.5	0.7
Margin	2.74	2.76	2.75	2.72	2.77	2.73

1-Year Adjustable Rate Mortgages
	US	NE	SE	NC	SW	W
Average	3.21	3.33	3.05	3.38	3.23	3.06
Fees & Points	0.5	0.5	0.7	0.3	0.8	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	4.95	4.32	4.05	4.22	4.87	4.15	3.72	3.23
Fees & Points	0.7	0.7	0.6	0.6	0.7	0.7	0.6	0.6
Margin	N/A	N/A	2.74	2.75	N/A	N/A	2.74	2.76

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

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Home Buying
Tips

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Tips

About
Mortgages

Mortgage
Calculator

Mortgage
Rates

30-year fixed-rate mortgage (FRM) averaged 4.88 percent with an average 0.7 point for the week ending March 10, 2011, up from last week when it averaged 4.87 percent. Last year at this time, the 30-year FRM averaged 4.95 percent.
15-year FRM this week averaged 4.15 percent with an average 0.7 point, the same from last week when it averaged 4.15 percent. A year ago at this time, the 15-year FRM averaged 4.32 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.73 percent this week, with an average 0.6 point, up from last week when it averaged 3.72 percent. A year ago, the 5-year ARM averaged 4.05 percent.

1-year Treasury-indexed ARM averaged 3.21 percent this week with an average 0.5 point, down from last week when it averaged 3.23 percent. At this time last year, the 1-year ARM averaged 4.22 percent.

And…

30-Year Fixed Rate Mortgages
	US	NE	SE	NC	SW	W
Average	4.88	4.90	4.85	4.93	4.91	4.83
Fees & Points	0.7	0.8	0.9	0.6	0.6	0.7

15-Year Fixed Rate Mortgages
	US	NE	SE	NC	SW	W
Average	4.15	4.17	4.14	4.17	4.25	4.10
Fees & Points	0.7	0.7	0.9	0.5	0.6	0.7

5/1-Year Adjustable Rate Mortgages
	US	NE	SE	NC	SW	W
Average	3.73	3.92	3.59	3.68	3.76	3.63
Fees & Points	0.6	0.6	0.8	0.4	0.5	0.7
Margin	2.74	2.76	2.75	2.72	2.77	2.73

1-Year Adjustable Rate Mortgages
	US	NE	SE	NC	SW	W
Average	3.21	3.33	3.05	3.38	3.23	3.06
Fees & Points	0.5	0.5	0.7	0.3	0.8	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	4.95	4.32	4.05	4.22	4.87	4.15	3.72	3.23
Fees & Points	0.7	0.7	0.6	0.6	0.7	0.7	0.6	0.6
Margin	N/A	N/A	2.74	2.75	N/A	N/A	2.74	2.76

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 4.88 percent with an average 0.7 point for the week ending March 10, 2011, up from last week when it averaged 4.87 percent. Last year at this time, the 30-year FRM averaged 4.95 percent.
15-year FRM this week averaged 4.15 percent with an average 0.7 point, the same from last week when it averaged 4.15 percent. A year ago at this time, the 15-year FRM averaged 4.32 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.73 percent this week, with an average 0.6 point, up from last week when it averaged 3.72 percent. A year ago, the 5-year ARM averaged 4.05 percent.

1-year Treasury-indexed ARM averaged 3.21 percent this week with an average 0.5 point, down from last week when it averaged 3.23 percent. At this time last year, the 1-year ARM averaged 4.22 percent.

And…

30-Year Fixed Rate Mortgages
	US	NE	SE	NC	SW	W
Average	4.88	4.90	4.85	4.93	4.91	4.83
Fees & Points	0.7	0.8	0.9	0.6	0.6	0.7

15-Year Fixed Rate Mortgages
	US	NE	SE	NC	SW	W
Average	4.15	4.17	4.14	4.17	4.25	4.10
Fees & Points	0.7	0.7	0.9	0.5	0.6	0.7

5/1-Year Adjustable Rate Mortgages
	US	NE	SE	NC	SW	W
Average	3.73	3.92	3.59	3.68	3.76	3.63
Fees & Points	0.6	0.6	0.8	0.4	0.5	0.7
Margin	2.74	2.76	2.75	2.72	2.77	2.73

1-Year Adjustable Rate Mortgages
	US	NE	SE	NC	SW	W
Average	3.21	3.33	3.05	3.38	3.23	3.06
Fees & Points	0.5	0.5	0.7	0.3	0.8	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	4.95	4.32	4.05	4.22	4.87	4.15	3.72	3.23
Fees & Points	0.7	0.7	0.6	0.6	0.7	0.7	0.6	0.6
Margin	N/A	N/A	2.74	2.75	N/A	N/A	2.74	2.76

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.