LendingTree Weekly Mortgage Rate Pulse: Rates Up Slightly

January 19, 2011 (Shirley Allen)
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According to the data collected on January 18th for LendingTree’s Weekly Mortgage Rate Pulse,  average home loan rates offered by network lenders were 5.03 percent (5.26% APR) for 30-year fixed mortgages, up slightly from 4.97 percent the week before, 4.33 percent (4.69% APR) for 15-year fixed mortgages, which was also up slightly from 4.31 the week before,  and 3.77 percent (4.02% APR) for 5/1 adjustable rate mortgages (ARM), which was down from 3.78 percent from the previous week.

The lowest mortgage rates offered on the same day by lenders on the LendingTree network were 4.5 percent (4.64% APR) for a 30-year fixed mortgage, up from 4.375 percent the previous week, 3.75 percent (3.99% APR) for a 15-year fixed mortgage, which the same as the week before, and 3.000 percent (3.21% APR) for a 5/1 ARM, which was also the same as the previous week.  

“Market conditions have continually been improving for borrowers over the past month with rates back down to early December levels,” said Cameron Findlay, LendingTree chief economist. “However, given the impending rise in agency loan level pricing adjustments scheduled to take effect in the next two weeks and increased tension in the market surrounding what is considered a ‘Qualified Residential Mortgage’ there is a lot of risk waiting to lock your mortgage rate in this environment.”

The LendingTree Weekly Mortgage Rate Pulse is a snapshot of the lowest and average home loan rates available within the LendingTree network of lenders and is compiled every Wednesday from data that is gathered from the previous day to reflect the most up to date information on current mortgage rates.

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 1/19/10*Updated Quarterly
STATE LOWEST MORTGAGE RATE LOAN-TO-VALUE RATIO* % WITH NEGATIVE EQUITY*
Alabama 4.50% (4.65% APR) 67.1% 10.5%
Alaska 4.75% (4.95% APR) 67% 8.9%
Arizona 4.63% (4.82% APR) 92.4% 48.6%
Arkansas 4.63% (4.74% APR) 73.6% 11.6%
California 4.50% (4.64% APR) 70.1% 31.6%
Colorado 4.50% (4.70% APR) 72.1% 19.6%
Connecticut 4.38% (4.48% APR) 58.2% 11.9%
Delaware 4.50% (4.59% APR) 67.9% 13.3%
District of Columbia 4.63% (4.76% APR) 58.6% 15.2%
Florida 4.50% (4.63% APR) 88.7% 45.5%
Georgia 4.50% (4.64% APR) 79.8% 28%
Hawaii 4.63% (4.71% APR) 55.5% 10.7%
Idaho 4.63% (4.82% APR) 74.1% 25.3%
Illinois 4.50% (4.59% APR) 70.6% 19.4%
Indiana 4.63% (4.76% APR) 70% 11.3%
Iowa 4.63% (4.82% APR) 66.9% 8.7%
Kansas 4.50% (4.70% APR) 70.6% 11.1%
Kentucky 4.50% (4.65% APR) 68% 8.9%
Louisiana 4.63% (4.82% APR) N/A 22.5%
Maine 4.63% (4.83% APR) N/A 22.5%
Maryland 4.50% (4.70% APR) 68.8% 22%
Massachusetts 4.63% (4.75% APR) 60.3% 14.9%
Michigan 4.63% (4.75% APR) 85.5% 37.6%
Minnesota 4.63% (4.75% APR) 65.5% 16.2%
Mississippi 4.63% (4.83% APR) N/A 22.5%
Missouri 4.50% (4.70% APR) 71.5% 15.7%
Montana 4.63% (4.71% APR) 60.1% 7.7%
Nebraska 4.63% (4.82% APR) 73.1% 9.6%
Nevada 4.63% (4.76% APR) 118.7% 66.5%
New Hampshire 4.63% (4.75% APR) 69% 17.7%
New Jersey 4.50% (4.64% APR) 61.3% 15.2%
New Mexico 4.63% (4.76% APR) 66.4% 12.6%
New York 4.50% (4.61% APR) 49.8% 7%
North Carolina 4.50% (4.64% APR) 70.3% 10.5%
North Dakota 4.63% (4.82% APR) 59.9% 7.4%
Ohio 4.63% (4.75% APR) 74.7% 20%
Oklahoma 4.63% (4.74% APR) 70.7% 6.0%
Oregon 4.50% (4.70% APR) 68.7% 15.6%
Pennsylvania 4.50% (4.63% APR) 62.1% 7.4%
Rhode Island 4.63% (4.82% APR) 61.6% 20%
South Carolina 4.63% (4.75% APR) 70.4% 14.2%
South Dakota 4.63% (4.74% APR) N/A 22.5%
Tennessee 4.50% (4.70% APR) 70.9% 13.9%
Texas 4.50% (4.63% APR) 69.5% 11.2%
Utah 4.63% (4.87% APR) 73.6% 20.7%
Vermont 4.63% (4.82% APR) N/A 22.5%
Virginia 4.50% (4.74% APR) 70.5% 22.1%
Washington 4.50% (4.70% APR) 66.2% 14.9%
West Virginia 4.75% (4.95% APR) N/A 22.5%
Wisconsin 4.75% (4.95% APR) 67.2% 13.1%
Wyoming 4.63% (4.74% APR) N/A 22.5%

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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