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Thirty-Year Mortgage Rate Drops Back Under Four Percent
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You're Now Reading:
Thirty-Year Mortgage Rate Drops Back Under Four 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 Mortgage Rate Drops Back Under Four Percent
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November 23, 2011 (Shirley Allen)

Thirty-year fixed rate mortgages dipped back under four percent again this week while interest rates for adjustable rate mortgages averaged new record lows according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending November 23rd.

Fixed Rate Mortgages:

Fixed rate mortgage interest rates eased a bit this week with the 30-year fixed rate mortgage averaging 3.98 percent with an average of 0.7 points, down from last week’s average of 4.00 percent. A year ago the 30-year fixed rate mortgage averaged 4.40 percent.

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

The 15-year fixed rate mortgage averaged 3.30 percent this week with an average 0.7 points, down from 3.31 percent the previous week, and down from 3.77 percent a year ago.

Adjustable Rate Mortgages:

Adjustable rate mortgage (ARM) interest rates averaged new record lows this week with the 5-year Treasury-indexed hybrid ARM averaging 2.91 percent, down from 2.97 percent last week, with an average of 0.6 points. The 5-year adjustable rate mortgage averaged 3.45 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage decreased this week, averaging 2.79 percent with an average of 0.6 points, down from 2.98 percent the previous week. A year ago, the 1 year adjustable rate mortgage averaged 3.23 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Mortgage rates eased slightly this week with fixed-rate loans hovering above all-time lows and ARMs reaching a new nadir. The high-degree of home-buyer affordability in recent months translated into a 1.4 percent pickup in existing home sales during October, according to the National Association of Realtors (NAR). The NAR also reported that contract cancellations were up in October as well, which restrained sales from achieving a stronger rebound.”

“The Bureau of Economic Analysis revised third quarter GDP growth downward from an initial estimate of 2.5 percent to 2.0 percent. In addition, the Federal Reserve announced weaker business activity for November in its Philadelphia and Chicago districts,” he added.

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.98 3.98 4.07 3.98 4.02 3.91
Fees & Points 0.7 0.7 0.8 0.7 0.7 0.7

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.30 3.30 3.34 3.29 3.36 3.24
Fees & Points 0.7 0.7 0.9 0.6 0.8 0.8

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.91 3.00 2.89 3.00 2.95 2.77
Fees & Points 0.6 0.6 0.7 0.5 0.7 0.6
Margin 2.75 2.75 2.75 2.73 2.76 2.74

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.79 2.83 2.78 3.04 2.66 2.66
Fees & Points 0.6 0.8 0.6 0.5 0.6 0.5
Margin 2.76 2.78 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 4.40   3.77   3.45   3.23   4.00   3.31   2.97   2.98  
Fees & Points 0.8   0.7   0.6   0.6   0.7   0.7   0.6   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.
Home Buying
Tips
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Tips
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Calculator
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Rates

November 23, 2011 (Shirley Allen)

Thirty-year fixed rate mortgages dipped back under four percent again this week while interest rates for adjustable rate mortgages averaged new record lows according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending November 23rd.

Fixed Rate Mortgages:

Fixed rate mortgage interest rates eased a bit this week with the 30-year fixed rate mortgage averaging 3.98 percent with an average of 0.7 points, down from last week’s average of 4.00 percent. A year ago the 30-year fixed rate mortgage averaged 4.40 percent.

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

The 15-year fixed rate mortgage averaged 3.30 percent this week with an average 0.7 points, down from 3.31 percent the previous week, and down from 3.77 percent a year ago.

Adjustable Rate Mortgages:

Adjustable rate mortgage (ARM) interest rates averaged new record lows this week with the 5-year Treasury-indexed hybrid ARM averaging 2.91 percent, down from 2.97 percent last week, with an average of 0.6 points. The 5-year adjustable rate mortgage averaged 3.45 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage decreased this week, averaging 2.79 percent with an average of 0.6 points, down from 2.98 percent the previous week. A year ago, the 1 year adjustable rate mortgage averaged 3.23 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Mortgage rates eased slightly this week with fixed-rate loans hovering above all-time lows and ARMs reaching a new nadir. The high-degree of home-buyer affordability in recent months translated into a 1.4 percent pickup in existing home sales during October, according to the National Association of Realtors (NAR). The NAR also reported that contract cancellations were up in October as well, which restrained sales from achieving a stronger rebound.”

“The Bureau of Economic Analysis revised third quarter GDP growth downward from an initial estimate of 2.5 percent to 2.0 percent. In addition, the Federal Reserve announced weaker business activity for November in its Philadelphia and Chicago districts,” he added.

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.98 3.98 4.07 3.98 4.02 3.91
Fees & Points 0.7 0.7 0.8 0.7 0.7 0.7

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.30 3.30 3.34 3.29 3.36 3.24
Fees & Points 0.7 0.7 0.9 0.6 0.8 0.8

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.91 3.00 2.89 3.00 2.95 2.77
Fees & Points 0.6 0.6 0.7 0.5 0.7 0.6
Margin 2.75 2.75 2.75 2.73 2.76 2.74

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.79 2.83 2.78 3.04 2.66 2.66
Fees & Points 0.6 0.8 0.6 0.5 0.6 0.5
Margin 2.76 2.78 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 4.40   3.77   3.45   3.23   4.00   3.31   2.97   2.98  
Fees & Points 0.8   0.7   0.6   0.6   0.7   0.7   0.6   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.

November 23, 2011 (Shirley Allen)

Thirty-year fixed rate mortgages dipped back under four percent again this week while interest rates for adjustable rate mortgages averaged new record lows according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending November 23rd.

Fixed Rate Mortgages:

Fixed rate mortgage interest rates eased a bit this week with the 30-year fixed rate mortgage averaging 3.98 percent with an average of 0.7 points, down from last week’s average of 4.00 percent. A year ago the 30-year fixed rate mortgage averaged 4.40 percent.

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

The 15-year fixed rate mortgage averaged 3.30 percent this week with an average 0.7 points, down from 3.31 percent the previous week, and down from 3.77 percent a year ago.

Adjustable Rate Mortgages:

Adjustable rate mortgage (ARM) interest rates averaged new record lows this week with the 5-year Treasury-indexed hybrid ARM averaging 2.91 percent, down from 2.97 percent last week, with an average of 0.6 points. The 5-year adjustable rate mortgage averaged 3.45 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage decreased this week, averaging 2.79 percent with an average of 0.6 points, down from 2.98 percent the previous week. A year ago, the 1 year adjustable rate mortgage averaged 3.23 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Mortgage rates eased slightly this week with fixed-rate loans hovering above all-time lows and ARMs reaching a new nadir. The high-degree of home-buyer affordability in recent months translated into a 1.4 percent pickup in existing home sales during October, according to the National Association of Realtors (NAR). The NAR also reported that contract cancellations were up in October as well, which restrained sales from achieving a stronger rebound.”

“The Bureau of Economic Analysis revised third quarter GDP growth downward from an initial estimate of 2.5 percent to 2.0 percent. In addition, the Federal Reserve announced weaker business activity for November in its Philadelphia and Chicago districts,” he added.

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.98 3.98 4.07 3.98 4.02 3.91
Fees & Points 0.7 0.7 0.8 0.7 0.7 0.7

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.30 3.30 3.34 3.29 3.36 3.24
Fees & Points 0.7 0.7 0.9 0.6 0.8 0.8

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.91 3.00 2.89 3.00 2.95 2.77
Fees & Points 0.6 0.6 0.7 0.5 0.7 0.6
Margin 2.75 2.75 2.75 2.73 2.76 2.74

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.79 2.83 2.78 3.04 2.66 2.66
Fees & Points 0.6 0.8 0.6 0.5 0.6 0.5
Margin 2.76 2.78 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 4.40   3.77   3.45   3.23   4.00   3.31   2.97   2.98  
Fees & Points 0.8   0.7   0.6   0.6   0.7   0.7   0.6   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.