Fixed Mortgage Rates Decline

Mortgage Rates Near Record Lows
 

Fixed Mortgage Rates Decline on Weaker Economic Data

Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®) showing average fixed mortgage rates declining amid weaker manufacturing growth and declines in overall inflation rates.

30-Year Fixed Rate Mortgages

According to Freddie Mac’s Primary Mortgage Market Survey® (PMMS®) average 30-year fixed rate mortgages fell to 4.22 percent from 4.35 percent last week. A year ago at this time, the 30-year FRM averaged 3.31 percent.

15-Year Fixed Rate Mortgages

The average 15-year fixed rate mortgage fell to 3.27 percent from 3.35 percent last week. A year ago at this time, the 15-year FRM averaged 2.63 percent.

5-Year Adjustable Rate Mortgages

The average five-year Treasury-indexed hybrid adjustable rate mortgage (ARM) is down to 2.95 percent from 3.01 percent last week. A year ago, the 5-year ARM averaged 2.74 percent.

1-Year Adjustable Rate Mortgages

The average one-year Treasury-indexed ARM was unchanged from last week at 2.61 At this time last year, the 1-year ARM averaged 2.56 percent.

These low mortgage rates continue to assist with the housing market recovery. Contact a licensed mortgage loan professional to take advantage of low mortgage rates. Find a loan officer near you or apply online for a mortgage loan and we will redirect your application to a qualified loan professional near you.

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

“Fixed mortgage rates fell this week on reports of weaker manufacturing growth and declines in overall inflation rates. Industrial production slipped by 0.1 percent in October, below the market consensus forecast of a 0.2 percent gain. The consumer price index also unexpectedly fell during the month. On an annual basis, consumer prices are up 1 percent, the smallest increase since October 2009.”

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.

Want to Lock & Shop?

Inlanta is pleased to announce Inlanta Lock & Shop for home buyers who haven’t found a property but want to lock in while interest rates are historically low. This program is especially appealing to home buyers interested in locking in at mortgage rates now before they rise any further and reduce their buying power.

Our Mission Statement

Our mission is to be the home financing partner that you trust to serve your family, friends and community. Through our family of dedicated mortgage professionals our commitment is to deliver an exceptional experience. Our unwavering dedication to integrity, honesty and ethics is the foundation of all of our relationships.

About Inlanta Mortgage – Celebrating 20 Years

Celebrating its 20th Anniversary, Inlanta Mortgage is a growing mortgage banking firm committed to quality mortgage lending, ethical operations and strong customer service.

Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is an agency approved lender for Fannie Mae, FHA/VA, FHA 203K and USDA. 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 was named a Top Mortgage Lender in 2012 by Scotsman Guide and has been listed on Mortgage Technology’s Top 25 Tech Savvy Lenders List for the last four years.

Record Low Mortgage Rates Again!

Mortgage Rates Break Records

30-Year Fixed Rate Mortgages

According to Freddie Mac’s Primary Mortgage Market Survey (PMMS) average 30-year fixed rate mortgages hit new all-time record low for the second consecutive week on mortgage securities purchases by the Federal Reserve and indicators of a weakening economy. For the week ending October 4, 2012 the average 30-year fixed rate mortgage dropped to 3.36 percent – another substantial drop form last week’s average of 3.40 percent. Last year at this time the 30-year FRM averaged 3.94 percent.

 

15-Year Fixed Rate Mortgages

Average 15-year fixed rate mortgages also dropped significantly to 2.69 percent from last week when the average was 2.73 percent. Last year at this time, the 15-year FRM averaged 3.26 percent.

 

5-Year Adjustable Rate Mortgages

The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) rose slightly to 2.72 percent – up from last week when it averaged 2.71 percent. A year ago, the 5-year ARM averaged 3.96 percent.

 

1-Year Adjustable Rate Mortgages

The average one-year Treasury-indexed ARM fell slightly to 2.57 percent from 2.60 last week. Last year at this time, the 1-year ARM averaged 2.95 percent.

 

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

 

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

 

“Fixed mortgage rates fell again this week to all-time record lows due to the mortgage securities purchases by the Federal Reserve and indicators of a weakening economy. The final estimate of growth in Gross Domestic Product was revised down to 1.3 percent in the second quarter, representing the slowest growth in a year. In addition, personal incomes rose only 0.1 percent in August, while July’s increase was revised downward. And finally, pending home sales in August fell 2.6 percent, well below the market consensus forecast of a slight increase.”

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 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.

Fixed Mortgage Rates Drop

v

Mortgage Rates Drop

 

30-Year Fixed Rate Mortgages

Average 30-year fixed rate mortgages dropped this week after several weeks of consecutive increases. According to Freddie Mac’s Primary Mortgage Market Survey (PMMS) for the week ending August 30, 2012, the 30-year fixed-rate mortgage (FRM) averaged 3.59 percent – down from last week when it averaged 3.66 percent. Last year at this time the 30-year FRM averaged 4.22 percent.

15-Year Fixed Rate Mortgages

The 15-year fixed rate mortgage also decreased. The 15-year fixed rate mortgage averaged 2.86 percent for the week – down slightly from 2.89 percent. Last year at this time, the 15-year FRM averaged 3.39 percent.

5-Year Adjustable Rate Mortgages

The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) decreased to 2.78 percent – down from last week when it averaged 2.80 percent. A year ago, the 5-year ARM averaged 2.96 percent.

1-Year Adjustable Rate Mortgages

The one-year Treasury-indexed ARM averaged 2.63 percent, down from last week when it averaged 2.66 percent. Last year at this time, the 1-year ARM averaged 2.89 percent.

Contact a licensed mortgage loan professional to take advantage of these historically low mortgage rates. Find an Inlanta Mortgage professional near you.

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

  • “Treasury bond yields fell, allowing mortgage rates to follow, after the release of the July 31st and August 1st minutes of the Federal Reserve’s monetary policy committee. Committee members agreed that economic activity had decelerated more in recent months than they had anticipated at their last meeting in June. Some members even saw room for additional stimulus fairly soon if needed.
  • “Nonetheless, the housing market continued to show improvement over the past few months. New home sales rose 3.6 percent in July matching May’s pace as the strongest month since April 2010. Similarly, pending existing home sales also rose in July to its highest rate since April 2010. And, the S&P/Case-Shiller® National Home Price Index rose 1.2 percent between the second quarter of 2011 and 2012, reflecting the first annual increase since the second quarter of 2010.”

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 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.