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Mortgage Rates Continue Slide
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.
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May 19, 2011 (Chris Moore)

Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), which shows fixed-rate mortgages declining for the fifth consecutive week with the 30-year fixed averaging 4.61 percent and the 15-year averaging 3.80 percent amid mixed economic and housing data.

  • 30-year fixed-rate mortgage (FRM) averaged 4.61 percent with an average 0.7 point for the week ending May 19, 2011, down from last week when it averaged 4.63 percent. Last year at this time, the 30-year FRM averaged 4.84 percent.
  • 15-year FRM this week averaged 3.80 percent with an average 0.7 point, down from last week when it averaged 3.82 percent. A year ago at this time, the 15-year FRM averaged 4.24 percent.  
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.48 percent this week, with an average 0.6 point, up from last week when it averaged 3.41 percent. A year ago, the 5-year ARM averaged 3.91 percent.
  • 1-year Treasury-indexed ARM averaged 3.15 percent this week with an average 0.6 point, up from last week when it averaged 3.11 percent. At this time last year, the 1-year ARM averaged 4.00 percent.  

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Fixed mortgage rates inched down for the fifth consecutive week as financial markets try to ascertain the current strength of the economy. Industrial production was unchanged in April owing to disruptions in automobile parts supplies due to the earthquake and tsunami in Japan. Netting out automobiles and gasoline, retail sales rose 0.2 percent in April, which was less than a third of the increase in March and the weakest growth since December 2010. However, consumer confidence, as measured by the University of Michigan, rose above the market consensus in May to the highest reading since February.

And…

“Data on the housing market was also mixed. New construction on single-family homes fell 5.1 percent in April, with the largest declines occurring in the Midwest and South regions where tornados hit the hardest. Homebuilder confidence remained unchanged in May and near its January 2009 historical low, according to the NAHB/Wells Fargo Housing Market Index. However, conventional mortgages applications  rose for the past five straight weeks ending May 13th, buoyed by lower mortgage rates and stronger refinancing activity.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 4.61 4.62 4.63 4.63 4.66 4.55
Fees & Points 0.7 0.7 0.8 0.5 0.6 0.7

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.80 3.82 3.82 3.82 3.88 3.72
Fees & Points 0.7 0.7 0.8 0.5 0.6 0.8

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.48 3.57 3.42 3.62 3.49 3.33
Fees & Points 0.6 0.6 0.7 0.4 0.5 0.7
Margin 2.74 2.75 2.75 2.72 2.77 2.73

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.15 3.36 2.91 3.57 3.00 2.87
Fees & Points 0.6 0.7 0.5 0.4 0.8 0.5
Margin 2.76 2.80 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 4.84   4.24   3.91   4.00   4.63   3.82   3.41   3.11  
Fees & Points 0.7   0.7   0.6   0.6   0.7   0.7   0.6   0.5  
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
LOANRATEUPDATE
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 LoanRateUpdate. 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
LOANRATEUPDATE
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

May 19, 2011 (Chris Moore)

Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), which shows fixed-rate mortgages declining for the fifth consecutive week with the 30-year fixed averaging 4.61 percent and the 15-year averaging 3.80 percent amid mixed economic and housing data.

  • 30-year fixed-rate mortgage (FRM) averaged 4.61 percent with an average 0.7 point for the week ending May 19, 2011, down from last week when it averaged 4.63 percent. Last year at this time, the 30-year FRM averaged 4.84 percent.
  • 15-year FRM this week averaged 3.80 percent with an average 0.7 point, down from last week when it averaged 3.82 percent. A year ago at this time, the 15-year FRM averaged 4.24 percent.  
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.48 percent this week, with an average 0.6 point, up from last week when it averaged 3.41 percent. A year ago, the 5-year ARM averaged 3.91 percent.
  • 1-year Treasury-indexed ARM averaged 3.15 percent this week with an average 0.6 point, up from last week when it averaged 3.11 percent. At this time last year, the 1-year ARM averaged 4.00 percent.  

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Fixed mortgage rates inched down for the fifth consecutive week as financial markets try to ascertain the current strength of the economy. Industrial production was unchanged in April owing to disruptions in automobile parts supplies due to the earthquake and tsunami in Japan. Netting out automobiles and gasoline, retail sales rose 0.2 percent in April, which was less than a third of the increase in March and the weakest growth since December 2010. However, consumer confidence, as measured by the University of Michigan, rose above the market consensus in May to the highest reading since February.

And…

“Data on the housing market was also mixed. New construction on single-family homes fell 5.1 percent in April, with the largest declines occurring in the Midwest and South regions where tornados hit the hardest. Homebuilder confidence remained unchanged in May and near its January 2009 historical low, according to the NAHB/Wells Fargo Housing Market Index. However, conventional mortgages applications  rose for the past five straight weeks ending May 13th, buoyed by lower mortgage rates and stronger refinancing activity.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 4.61 4.62 4.63 4.63 4.66 4.55
Fees & Points 0.7 0.7 0.8 0.5 0.6 0.7

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.80 3.82 3.82 3.82 3.88 3.72
Fees & Points 0.7 0.7 0.8 0.5 0.6 0.8

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.48 3.57 3.42 3.62 3.49 3.33
Fees & Points 0.6 0.6 0.7 0.4 0.5 0.7
Margin 2.74 2.75 2.75 2.72 2.77 2.73

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.15 3.36 2.91 3.57 3.00 2.87
Fees & Points 0.6 0.7 0.5 0.4 0.8 0.5
Margin 2.76 2.80 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 4.84   4.24   3.91   4.00   4.63   3.82   3.41   3.11  
Fees & Points 0.7   0.7   0.6   0.6   0.7   0.7   0.6   0.5  
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
LOANRATEUPDATE
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 LoanRateUpdate. 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
LOANRATEUPDATE
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.

May 19, 2011 (Chris Moore)

Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), which shows fixed-rate mortgages declining for the fifth consecutive week with the 30-year fixed averaging 4.61 percent and the 15-year averaging 3.80 percent amid mixed economic and housing data.

  • 30-year fixed-rate mortgage (FRM) averaged 4.61 percent with an average 0.7 point for the week ending May 19, 2011, down from last week when it averaged 4.63 percent. Last year at this time, the 30-year FRM averaged 4.84 percent.
  • 15-year FRM this week averaged 3.80 percent with an average 0.7 point, down from last week when it averaged 3.82 percent. A year ago at this time, the 15-year FRM averaged 4.24 percent.  
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.48 percent this week, with an average 0.6 point, up from last week when it averaged 3.41 percent. A year ago, the 5-year ARM averaged 3.91 percent.
  • 1-year Treasury-indexed ARM averaged 3.15 percent this week with an average 0.6 point, up from last week when it averaged 3.11 percent. At this time last year, the 1-year ARM averaged 4.00 percent.  

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Fixed mortgage rates inched down for the fifth consecutive week as financial markets try to ascertain the current strength of the economy. Industrial production was unchanged in April owing to disruptions in automobile parts supplies due to the earthquake and tsunami in Japan. Netting out automobiles and gasoline, retail sales rose 0.2 percent in April, which was less than a third of the increase in March and the weakest growth since December 2010. However, consumer confidence, as measured by the University of Michigan, rose above the market consensus in May to the highest reading since February.

And…

“Data on the housing market was also mixed. New construction on single-family homes fell 5.1 percent in April, with the largest declines occurring in the Midwest and South regions where tornados hit the hardest. Homebuilder confidence remained unchanged in May and near its January 2009 historical low, according to the NAHB/Wells Fargo Housing Market Index. However, conventional mortgages applications  rose for the past five straight weeks ending May 13th, buoyed by lower mortgage rates and stronger refinancing activity.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 4.61 4.62 4.63 4.63 4.66 4.55
Fees & Points 0.7 0.7 0.8 0.5 0.6 0.7

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.80 3.82 3.82 3.82 3.88 3.72
Fees & Points 0.7 0.7 0.8 0.5 0.6 0.8

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.48 3.57 3.42 3.62 3.49 3.33
Fees & Points 0.6 0.6 0.7 0.4 0.5 0.7
Margin 2.74 2.75 2.75 2.72 2.77 2.73

1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 3.15 3.36 2.91 3.57 3.00 2.87
Fees & Points 0.6 0.7 0.5 0.4 0.8 0.5
Margin 2.76 2.80 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 4.84   4.24   3.91   4.00   4.63   3.82   3.41   3.11  
Fees & Points 0.7   0.7   0.6   0.6   0.7   0.7   0.6   0.5  
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
LOANRATEUPDATE
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 LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATEUPDATE
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.