LendingTree Weekly Mortgage Rate Pulse: Rates Fall Slightly

December 30 2010 (Shirley Allen)
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According to the data collected on December 28th for LendingTree’s Weekly Mortgage Rate Pulse,  average home loan rates offered by network lenders were 5.16 percent (5.40% APR) for 30-year fixed mortgages, 4.46 percent (4.83% APR) for 15-year fixed mortgages and 4.07 percent (4.13% APR) for 5/1 adjustable rate mortgages (ARM). Rates for 30- and 15-year fixed mortgages fell slightly week-over-week, while 5/1 ARM rates rose.

The lowest mortgage rates offered on the same day by lenders on the LendingTree network were 4.625 percent (4.82% APR) for a 30-year fixed mortgage 3.875 percent (4.12% APR) for a 15-year fixed mortgage and 3.125 percent (3.25% APR) for a 5/1 ARM.  

The LendingTree Weekly Mortgage Rate Pulse is a snapshot of the lowest and average home loan rates available within the LendingTree network of lenders. Unlike the Primary Mortgage Market Survey® released every Thursday by mortgage giant Freddie Mac that reports mortgage loan interest rates only through the previous week, the Weekly Mortgage Rate Pulse reports mortgage loan interest rates every Wednesday from data gathered the previous day so it is more reflective of current interest rates.

Nicole Hall, LendingTree home loan shopping expert stated, “With the New Year approaching, it’s a great time for consumers to tidy up their home finances. Homeowners can find a great deal of savings by dusting off their mortgage documents and insurance policies and evaluating whether they’re still getting the best deal. Refinancing and lowering your insurance premiums can leave consumers with more money to tackle other New Year’s resolutions, like increasing their 401k contribution.”

See how your state compares below by comparing mortgage data including a snapshot of the lowest 30-year fixed rates offered by lenders on the LendingTree network, average loan-to-value ratio and percentage of consumers with negative equity:

STATE-BY-STATE MORTGAGE DATA 12/28/10

*Updated Quarterly

STATE

LOWEST MORTGAGE RATE LOAN-TO-VALUE RATIO* % WITH NEGATIVE EQUITY*

Alabama

4.63% (4.82% APR)

67%

9.8%

Alaska

4.63% (4.82% APR)

67%

10.6%

Arizona

4.63% (4.82% APR)

94% 50%

Arkansas

4.63% (4.82% APR)

74% 12%

California

4.63% (4.82% APR)

70% 32.8%

Colorado

4.63% (4.82% APR)

72% 19.7%

Connecticut

4.63% (4.82% APR)

58% 12%

Delaware

4.63% (4.82% APR)

68% 13.5%

District of Columbia

4.63% (4.82% APR)

59% 15.5%

Florida

4.63% (4.77% APR)

90% 46.4%

Georgia

4.63% (4.77% APR)

80% 28.1%

Hawaii

4.75% (4.88% APR)

55% 10.7%

Idaho

4.63% (4.82% APR)

73% 23.7%

Illinois

4.75% (4.88% APR)

71% 19.7%

Indiana

4.63% (4.81% APR)

70% 11%

Iowa

4.63% (4.82% APR)

67% 8.8%

Kansas

4.63% (4.82% APR)

70% 10.8%

Kentucky

4.63% (4.82% APR)

67% 8.5%

Louisiana

4.63% (4.82% APR)

N/A 23%

Maine

4.63% (4.82% APR)

N/A 23%

Maryland

4.63% (4.82% APR)

69% 22.2%

Massachusetts

4.75% (4.87% APR)

60% 15%

Michigan

4.63% (4.82% APR)

86% 38%

Minnesota

4.62% (4.82% APR)

65% 16.3%

Mississippi

4.63% (4.82% APR)

N/A 23%

Missouri

4.63% (4.82% APR)

71% 15.5%

Montana

4.63% (4.82% APR)

60% 7.7%

Nebraska

4.63% (4.82% APR)

73% 9.3%

Nevada

4.63% (4.82% APR)

120% 68.1%

New Hampshire

4.63% (4.82% APR)

69% 18.4%

New Jersey

4.63% (4.82% APR)

61% 15.4%

New Mexico

4.63% (4.82% APR)

66% 12.2%

New York

4.63% (4.82% APR) 50% 7.1%

North Carolina

4.63% (4.82% APR) 70% 10.4%

North Dakota

4.63% (4.82% APR) 60% 7.4%

Ohio

4.75% (4.88% APR) 74% 19.7%

Oklahoma

4.63% (4.82% APR) 70% 5.8%

Oregon

4.63% (4.82% APR) 69% 15.7%

Pennsylvania

4.50% (4.59% APR) 62% 7.3%

Rhode Island

4.63% (4.82% APR) 62% 20.3%

South Carolina

4.63% (4.82% APR) 71% 14.3%

South Dakota

4.63% (4.82% APR) N/A 23%

Tennessee

4.63% (4.82% APR) 71% 13.8%

Texas

4.63% (4.82% APR) 70% 11.3%

Utah

4.63% (4.82% APR) 73% 20.4%

Vermont

4.63% (4.82% APR) N/A 23%

Virginia

4.63% (4.82% APR) 71% 22.7%

Washington

4.75% (4.89% APR) 66% 15.2%

West Virginia

4.63% (4.82% APR) N/A 23%

Wisconsin

4.63% (4.82% APR) 67% 13.7%

Wyoming

4.63% (4.82% APR) N/A 23%

Home loan rates above are reflective of actual rates offered to borrowers by lenders on the LendingTree network. Lowest rates shown reflect the payment of one discount point. Rates will vary based on the borrower’s loan details and credit profile.

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