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30 Year Fixed Rate Mortgage Rise Slightly

30-Year Fixed Rate Mortgages

According to Freddie Mac’s Primary Mortgage Market Survey (PMMS) average 30-year fixed rate mortgages rose slightly for the week ending February 21, 2013. The average 30-year fixed rate mortgage rose to 3.56 from 3.53 percent last week. Last year at this time the 30-year FRM averaged 3.95 percent.

15-Year Fixed Rate Mortgages

Average 15-year fixed rate mortgages averaged 2.77 percent, the same as last week. Last year at this time, the 15-year FRM averaged 3.19 percent.

5-Year Adjustable Rate Mortgages

The average five-year Treasury-indexed hybrid adjustable rate mortgage (ARM) held steady at 2.64 percent. A year ago, the 5-year ARM averaged 2.80 percent.

1-Year Adjustable Rate Mortgages

The average one-year Treasury-indexed ARM jumped to 2.65 percent from 2.61 percent last week. Last year at this time, the 1-year ARM averaged 2.73 percent.

Contact a licensed mortgage loan professional to take advantage of these record low mortgage rates. Find a loan officer near you.

Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac:

“Mortgage rates have been relatively stable, hovering near record lows, for the past four weeks which is helping to spur new home construction. For instance, new construction on single-family houses rose to an annualized rate of 613,000 in January, the most since July 2008. In addition, single-family building permits were up to the highest issuance level since June 2008.”

Original Source: Freddie Mac Interest rates listed above are national averages as reported by Freddie Mac. Individual interest rates are dependent upon credit approval and may include points. Average mortgage points are also reported in Freddie Mac’s Primary Mortgage Market Survey. Other mortgage financing fees may apply. Contact your lender for detailed information.

Inlanta Mortgage is proudly celebrating twenty years in business. Learn more about Inlanta’s twenty year history here.

Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is fully delegated HUD-FHA including FHA 203K, VA, and USDA approved. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs here.

Inlanta Mortgage is a multi-state mortgage banker based out of Brookfield, Wisconsin. NMLS# 1016. Inlanta Mortgage is proud to be a recent recipient of a 2012 Top Workplace Award.

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