Last week the average rate on a 30-year fixed mortgage fell again to a record low of 3.88% — the eight such record in the past 12 months.
Rates on 15-year fixed mortgages increased slightly to 3.17%.
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Source: Associated Press/AP Online
Publication date: August 18, 2011
The rate on the most popular mortgage dipped to 4.15 percent from 4.32 percent a week ago, Freddie Mac said Thursday. Its previous low of 4.17 percent was reached in November.
The last time long-term rates were lower was in the 1950s, when 30-year loans weren’t widely available. Most long-term home loans lasted 20 or 25 years. (more…)
Source: Associated Press/AP Online
Publication date: August 4, 2011
The rate for the popular refinancing option dropped to 3.54 percent this week from 3.66 percent last week, Freddie Mac said Thursday. That’s lowest result since the mortgage buyer began tracking it in 1991.
The average rate on the 30-year fixed loan fell to a yearly low of 4.39 percent from 4.55 percent the previous week.
To calculate average mortgage rates, Freddie Mac collects rates from lenders across the country on Monday through Wednesday of each week.
The average rate on a five-year adjustable-rate mortgage fell to 3.18 percent, its lowest level on records that go back to January 2005. Last week’s reading of 3.25 percent also was a record low.
The average rate for one-year adjustable-rate loans rose to 3.02 percent from 2.95 percent last week. Last week’s average rate matched the record low set two weeks earlier on records dating back to 1984.
The rates do not include extra fees known as points. One point is equal to 1 percent of the total loan amount.
The average fees for the 30-year and 15-year fixed loans and the 5-year adjustable loan were unchanged at 0.8 point, 0.7 point and 0.6 point, respectively. The average fee for the one-year ARM fell to 0.5 point from 0.6 point last week.
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Source: Associated Press/AP Online
Publication date: July 7, 2011
The average rate on the 30-year loan increased to 4.60 percent, up from 4.51 percent a week ago, Freddie Mac said Thursday. It hit its lowest level of the year three weeks ago, at 4.49 percent.
The average rate on the 15-year fixed mortgage, a popular refinancing option, rose to 3.75 percent. It reached its low point of the year two weeks ago, at 3.67 percent. (more…)
– from interest.com
by Mike Sante
May 19, 2011
Mortgage rates have declined six straight weeks since peaking in early April according to Interest.com’s new survey of major lenders.
The average cost of all four major types of home loans we track fell to new 2011 lows, and are anywhere from a quarter- to half-point below where they began the year.
This is as low as mortgage rates have ever been during the month of May.
Our May 18 survey found the average interest rate for a:
30-year, fixed-rate mortgage fell to 4.77% from 4.82% the previous week. Interest rates remain lower than they were this time last year, when a 30-year loan averaged 4.96%.
15-year, fixed-rate mortgage fell to 3.95% from 4.00% the previous week. A year ago, it was 4.34%.
30-year, fixed-rate jumbo loan (for mortgages exceeding $417,000 to $729,750, depending on the city) fell to 5.22% from 5.26% the previous week. A year ago, it was 5.75%.
Five-year, adjustable-rate mortgage fell to 3.48% from 3.52% the previous week. A year ago, it was 4.14%.
