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Mortgage Rates Start the New Year At or Near Record Lows
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You're Now Reading:
Mortgage Rates Start the New Year At or Near Record Lows
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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Mortgage Rates Start the New Year At or Near Record Lows
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Mortgage Rates

January 5, 2012 (Shirley Allen)

Mortgage interest rates started the New Year the same way it ended the old year, at or near record lows, according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending January 5th.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages remained at or near record lows with the 30-year fixed rate mortgage matching its record low average of 3.91 percent with an average of 0.8 points, down from last week’s average of 3.94 percent. A year ago the 30-year fixed rate mortgage averaged 4.77 percent.

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

The 15-year fixed rate mortgage increased slightly this week, averaging 3.23 percent with an average of 0.8 points. This week’s average rate is only two basis points above its record low. Last week, the 15-year mortgage rate averaged 3.24 percent. At this time last year, the 15-year fixed rate mortgage averaged 4.13 percent.

Adjustable Rate Mortgages:

Interest rates for adjustable mortgages were mixed this week with the 5-year Treasury-indexed hybrid ARM averaging 2.86 percent, down from last week’s average of 2.88 percent, with an average of 0.7 points. The average rate this week is only one basis point above its record low. The 5-year adjustable rate mortgage averaged 3.75 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage increased slightly this week averaging 2.80 percent with an average of 0.6 points, up from an average of 2.78 percent the previous week. A year ago, the 1-year adjustable rate mortgage averaged 3.26 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Fixed mortgage rates started the year a little lower this week just as recent data reports indicate the housing market and manufacturing industry are showing signs of improvement. Pending existing home sales in November jumped 7.3 percent, nearly five times greater than the market consensus forecast, to its strongest pace since April 2010. In addition, construction spending rose 1.2 percent in November, supported by the residential sector which exhibited its fourth consecutive monthly increase. Similarly, manufacturing expanded in December at the fastest pace in six months.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.91 3.93 3.92 3.91 3.95 3.86
Fees & Points 0.8 0.7 0.8 0.6 0.8 0.9

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.23 3.27 3.21 3.21 3.28 3.19
Fees & Points 0.8 0.7 0.8 0.6 0.8 0.8

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.86 2.98 2.78 2.90 2.92 2.74
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 2.80 2.80 2.78 3.15 2.64 2.66
Fees & Points 0.6 0.8 0.6 0.4 0.6 0.5
Margin 2.76 2.78 2.78 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 4.77   4.13   3.75   3.24   3.95   3.24   2.88   2.78  
Fees & Points 0.8   0.8   0.7   0.6   0.7   0.8   0.6   0.6  
Margin N/A N/A 2.75   2.76   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

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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
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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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Mortgage
Rates

January 5, 2012 (Shirley Allen)

Mortgage interest rates started the New Year the same way it ended the old year, at or near record lows, according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending January 5th.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages remained at or near record lows with the 30-year fixed rate mortgage matching its record low average of 3.91 percent with an average of 0.8 points, down from last week’s average of 3.94 percent. A year ago the 30-year fixed rate mortgage averaged 4.77 percent.

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

The 15-year fixed rate mortgage increased slightly this week, averaging 3.23 percent with an average of 0.8 points. This week’s average rate is only two basis points above its record low. Last week, the 15-year mortgage rate averaged 3.24 percent. At this time last year, the 15-year fixed rate mortgage averaged 4.13 percent.

Adjustable Rate Mortgages:

Interest rates for adjustable mortgages were mixed this week with the 5-year Treasury-indexed hybrid ARM averaging 2.86 percent, down from last week’s average of 2.88 percent, with an average of 0.7 points. The average rate this week is only one basis point above its record low. The 5-year adjustable rate mortgage averaged 3.75 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage increased slightly this week averaging 2.80 percent with an average of 0.6 points, up from an average of 2.78 percent the previous week. A year ago, the 1-year adjustable rate mortgage averaged 3.26 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Fixed mortgage rates started the year a little lower this week just as recent data reports indicate the housing market and manufacturing industry are showing signs of improvement. Pending existing home sales in November jumped 7.3 percent, nearly five times greater than the market consensus forecast, to its strongest pace since April 2010. In addition, construction spending rose 1.2 percent in November, supported by the residential sector which exhibited its fourth consecutive monthly increase. Similarly, manufacturing expanded in December at the fastest pace in six months.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.91 3.93 3.92 3.91 3.95 3.86
Fees & Points 0.8 0.7 0.8 0.6 0.8 0.9

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.23 3.27 3.21 3.21 3.28 3.19
Fees & Points 0.8 0.7 0.8 0.6 0.8 0.8

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.86 2.98 2.78 2.90 2.92 2.74
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 2.80 2.80 2.78 3.15 2.64 2.66
Fees & Points 0.6 0.8 0.6 0.4 0.6 0.5
Margin 2.76 2.78 2.78 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 4.77   4.13   3.75   3.24   3.95   3.24   2.88   2.78  
Fees & Points 0.8   0.8   0.7   0.6   0.7   0.8   0.6   0.6  
Margin N/A N/A 2.75   2.76   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
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.

January 5, 2012 (Shirley Allen)

Mortgage interest rates started the New Year the same way it ended the old year, at or near record lows, according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending January 5th.

Fixed Rate Mortgages:

Interest rates on fixed rate mortgages remained at or near record lows with the 30-year fixed rate mortgage matching its record low average of 3.91 percent with an average of 0.8 points, down from last week’s average of 3.94 percent. A year ago the 30-year fixed rate mortgage averaged 4.77 percent.

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

The 15-year fixed rate mortgage increased slightly this week, averaging 3.23 percent with an average of 0.8 points. This week’s average rate is only two basis points above its record low. Last week, the 15-year mortgage rate averaged 3.24 percent. At this time last year, the 15-year fixed rate mortgage averaged 4.13 percent.

Adjustable Rate Mortgages:

Interest rates for adjustable mortgages were mixed this week with the 5-year Treasury-indexed hybrid ARM averaging 2.86 percent, down from last week’s average of 2.88 percent, with an average of 0.7 points. The average rate this week is only one basis point above its record low. The 5-year adjustable rate mortgage averaged 3.75 percent a year earlier.

The 1-year Treasury-indexed adjustable rate mortgage increased slightly this week averaging 2.80 percent with an average of 0.6 points, up from an average of 2.78 percent the previous week. A year ago, the 1-year adjustable rate mortgage averaged 3.26 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Fixed mortgage rates started the year a little lower this week just as recent data reports indicate the housing market and manufacturing industry are showing signs of improvement. Pending existing home sales in November jumped 7.3 percent, nearly five times greater than the market consensus forecast, to its strongest pace since April 2010. In addition, construction spending rose 1.2 percent in November, supported by the residential sector which exhibited its fourth consecutive monthly increase. Similarly, manufacturing expanded in December at the fastest pace in six months.”

30-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.91 3.93 3.92 3.91 3.95 3.86
Fees & Points 0.8 0.7 0.8 0.6 0.8 0.9

15-Year Fixed Rate Mortgages US NE SE NC SW W
Average 3.23 3.27 3.21 3.21 3.28 3.19
Fees & Points 0.8 0.7 0.8 0.6 0.8 0.8

5/1-Year Adjustable Rate Mortgages US NE SE NC SW W
Average 2.86 2.98 2.78 2.90 2.92 2.74
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 2.80 2.80 2.78 3.15 2.64 2.66
Fees & Points 0.6 0.8 0.6 0.4 0.6 0.5
Margin 2.76 2.78 2.78 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 4.77   4.13   3.75   3.24   3.95   3.24   2.88   2.78  
Fees & Points 0.8   0.8   0.7   0.6   0.7   0.8   0.6   0.6  
Margin N/A N/A 2.75   2.76   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
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.