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Thirty-Year Fixed Rate Mortgage Hits Record Low 3.89 Percent
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You're Now Reading:
Thirty-Year Fixed Rate Mortgage Hits Record Low 3.89 Percent
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:
Thirty-Year Fixed Rate Mortgage Hits Record Low 3.89 Percent
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January 12, 2012 (Shirley Allen)

Mortgage interest rates fell this week to new all-time record lows for both fixed rate mortgages and adjustable rate mortgages according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending January 12th.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages set record lows this week with the 30-year fixed rate mortgage averaging 3.89 percent with an average of 0.7 points, down from last week’s average of 3.91 percent. A year ago the 30-year fixed rate mortgage averaged 4.71 percent. The previous record low for the 30-year fixed rate mortgage was 3.91 percent.

It was the also 11th consecutive week that 30-year fixed mortgage rates have been four percent or lower.

The 15-year fixed rate mortgage averaged 3.16 percent with an average of 0.8 points, down from last week’s average of 3.23 percent. At this time last year, the 15-year fixed rate mortgage averaged 4.08 percent. The previous record low for the 15-year fixed rate mortgage was 3.21 percent.

Adjustable Rate Mortgages:

Interest rates for adjustable mortgages also set record lows this week with the 5-year Treasury-indexed hybrid ARM averaging 2.82 percent, down from last week’s average of 2.86 percent, with an average of 0.7 points. The previous record low for the 5-year ARM was 2.85 percent. The 5-year adjustable rate mortgage averaged 3.72 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage decreased this week to an average of 2.76 percent with an average of 0.6 points, up from an average of 2.80 percent the previous week. A year ago, the 1-year adjustable rate mortgage averaged 3.23 percent. The previous record low for the 1-year ARM was 2.77 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Mortgage rates eased slightly this week to all-time record lows following mixed indicators in the labor market. Although the economy added 1.6 million jobs in 2011, which was the most since 2006, the unemployment rate remained historically elevated. The 2009 to 2011 period had the highest three-year average unemployment rate since 1939 to 1941. Moreover, the Federal Reserve indicated in its January 11th regional economic review that most industries saw limited permanent hiring at the end of last year.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.89 3.89 3.91 3.87 3.95 3.84
Fees & Points 0.7 0.8 0.8 0.7 0.7 0.8

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.16 3.19 3.15 3.13 3.23 3.11
Fees & Points 0.8 0.8 0.8 0.7 0.8 0.9

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.82 2.88 2.72 2.93 2.89 2.69
Fees & Points 0.7 0.7 0.7 0.5 0.7 0.7
Margin 2.74 2.73 2.75 2.73 2.76 2.74

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.76 2.81 2.63 3.00 2.64 2.66
Fees & Points 0.6 0.8 0.6 0.4 0.6 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 4.71   4.08   3.72   3.23   3.91   3.23   2.86   2.80  
Fees & Points 0.8   0.7   0.7   0.6   0.8   0.8   0.7   0.6  
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 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.
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Tips
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Calculator
Mortgage
Rates

January 12, 2012 (Shirley Allen)

Mortgage interest rates fell this week to new all-time record lows for both fixed rate mortgages and adjustable rate mortgages according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending January 12th.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages set record lows this week with the 30-year fixed rate mortgage averaging 3.89 percent with an average of 0.7 points, down from last week’s average of 3.91 percent. A year ago the 30-year fixed rate mortgage averaged 4.71 percent. The previous record low for the 30-year fixed rate mortgage was 3.91 percent.

It was the also 11th consecutive week that 30-year fixed mortgage rates have been four percent or lower.

The 15-year fixed rate mortgage averaged 3.16 percent with an average of 0.8 points, down from last week’s average of 3.23 percent. At this time last year, the 15-year fixed rate mortgage averaged 4.08 percent. The previous record low for the 15-year fixed rate mortgage was 3.21 percent.

Adjustable Rate Mortgages:

Interest rates for adjustable mortgages also set record lows this week with the 5-year Treasury-indexed hybrid ARM averaging 2.82 percent, down from last week’s average of 2.86 percent, with an average of 0.7 points. The previous record low for the 5-year ARM was 2.85 percent. The 5-year adjustable rate mortgage averaged 3.72 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage decreased this week to an average of 2.76 percent with an average of 0.6 points, up from an average of 2.80 percent the previous week. A year ago, the 1-year adjustable rate mortgage averaged 3.23 percent. The previous record low for the 1-year ARM was 2.77 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Mortgage rates eased slightly this week to all-time record lows following mixed indicators in the labor market. Although the economy added 1.6 million jobs in 2011, which was the most since 2006, the unemployment rate remained historically elevated. The 2009 to 2011 period had the highest three-year average unemployment rate since 1939 to 1941. Moreover, the Federal Reserve indicated in its January 11th regional economic review that most industries saw limited permanent hiring at the end of last year.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.89 3.89 3.91 3.87 3.95 3.84
Fees & Points 0.7 0.8 0.8 0.7 0.7 0.8

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.16 3.19 3.15 3.13 3.23 3.11
Fees & Points 0.8 0.8 0.8 0.7 0.8 0.9

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.82 2.88 2.72 2.93 2.89 2.69
Fees & Points 0.7 0.7 0.7 0.5 0.7 0.7
Margin 2.74 2.73 2.75 2.73 2.76 2.74

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.76 2.81 2.63 3.00 2.64 2.66
Fees & Points 0.6 0.8 0.6 0.4 0.6 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 4.71   4.08   3.72   3.23   3.91   3.23   2.86   2.80  
Fees & Points 0.8   0.7   0.7   0.6   0.8   0.8   0.7   0.6  
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.

January 12, 2012 (Shirley Allen)

Mortgage interest rates fell this week to new all-time record lows for both fixed rate mortgages and adjustable rate mortgages according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending January 12th.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages set record lows this week with the 30-year fixed rate mortgage averaging 3.89 percent with an average of 0.7 points, down from last week’s average of 3.91 percent. A year ago the 30-year fixed rate mortgage averaged 4.71 percent. The previous record low for the 30-year fixed rate mortgage was 3.91 percent.

It was the also 11th consecutive week that 30-year fixed mortgage rates have been four percent or lower.

The 15-year fixed rate mortgage averaged 3.16 percent with an average of 0.8 points, down from last week’s average of 3.23 percent. At this time last year, the 15-year fixed rate mortgage averaged 4.08 percent. The previous record low for the 15-year fixed rate mortgage was 3.21 percent.

Adjustable Rate Mortgages:

Interest rates for adjustable mortgages also set record lows this week with the 5-year Treasury-indexed hybrid ARM averaging 2.82 percent, down from last week’s average of 2.86 percent, with an average of 0.7 points. The previous record low for the 5-year ARM was 2.85 percent. The 5-year adjustable rate mortgage averaged 3.72 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage decreased this week to an average of 2.76 percent with an average of 0.6 points, up from an average of 2.80 percent the previous week. A year ago, the 1-year adjustable rate mortgage averaged 3.23 percent. The previous record low for the 1-year ARM was 2.77 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Mortgage rates eased slightly this week to all-time record lows following mixed indicators in the labor market. Although the economy added 1.6 million jobs in 2011, which was the most since 2006, the unemployment rate remained historically elevated. The 2009 to 2011 period had the highest three-year average unemployment rate since 1939 to 1941. Moreover, the Federal Reserve indicated in its January 11th regional economic review that most industries saw limited permanent hiring at the end of last year.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.89 3.89 3.91 3.87 3.95 3.84
Fees & Points 0.7 0.8 0.8 0.7 0.7 0.8

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.16 3.19 3.15 3.13 3.23 3.11
Fees & Points 0.8 0.8 0.8 0.7 0.8 0.9

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.82 2.88 2.72 2.93 2.89 2.69
Fees & Points 0.7 0.7 0.7 0.5 0.7 0.7
Margin 2.74 2.73 2.75 2.73 2.76 2.74

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.76 2.81 2.63 3.00 2.64 2.66
Fees & Points 0.6 0.8 0.6 0.4 0.6 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 4.71   4.08   3.72   3.23   3.91   3.23   2.86   2.80  
Fees & Points 0.8   0.7   0.7   0.6   0.8   0.8   0.7   0.6  
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.