Mortgage Rates Drop Again

Fixed Mortgage Rates Fall

30-Year Fixed Rate Mortgages

Average 30-year fixed rate mortgages eased this week amid worsening economic indicators including falling industrial production and falling consumer sentiment. According to Freddie Mac’s Primary Mortgage Market Survey (PMMS) the 30-year fixed-rate mortgage (FRM) averaged 3.66 percent for the week ending June 21, 2012 – down slightly last week when it averaged 3.71 percent. Last year at this time the 30-year FRM averaged 4.50 percent.

15-Year Fixed Rate Mortgages

The 15-year FRM also dropped slightly. The 15-year fixed rate mortgage averaged 2.95 percent for the week – down slightly from last week when it averaged 2.98 percent. Last year at this time, the 15-year FRM averaged 3.69 percent.

5-Year Adjustable Rate Mortgages

The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.77 percent – down from last week when they averaged 2.80 percent. A year ago, the 5-year ARM averaged 3.25 percent.

1-Year Adjustable Rate Mortgages

Also this week, the one-year Treasury-indexed ARM average dropped to 2.74 percent from last week when it averaged 2.78 percent. Last year at this time, the 1-year ARM averaged 2.99 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 eased somewhat this week on some worsening economic indicators bringing mortgage rates back into record low territory. Industrial production fell in two of the last three months ending in May, and below the expected market consensus forecast. In addition, consumer sentiment fell in June to its lowest level this year, according to the University of Michigan survey. In its June 20th monetary policy announcement, the Federal Reserve also noted growth in employment has slowed in recent months and household spending appears to be rising at a somewhat slower pace.

“However, there were also some positive indicators on the housing market. Construction on one-family homes rose for the third consecutive month in May to an annualized pace of 516,000. Furthermore, homebuilder confidence rose in June to its highest reading in over five years.”

Original Source: Freddie Mac

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.

Mortgage Rates Drop Again

Fixed Mortgage Rates Fall

30-Year Fixed Rate Mortgages

Average 30-year fixed rate mortgages eased this week amid worsening economic indicators including falling industrial production and falling consumer sentiment. According to Freddie Mac’s Primary Mortgage Market Survey (PMMS) the 30-year fixed-rate mortgage (FRM) averaged 3.66 percent for the week ending June 21, 2012 – down slightly last week when it averaged 3.71 percent. Last year at this time the 30-year FRM averaged 4.50 percent.

15-Year Fixed Rate Mortgages

The 15-year FRM also dropped slightly. The 15-year fixed rate mortgage averaged 2.95 percent for the week – down slightly from last week when it averaged 2.98 percent. Last year at this time, the 15-year FRM averaged 3.69 percent.

5-Year Adjustable Rate Mortgages

The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.77 percent – down from last week when they averaged 2.80 percent. A year ago, the 5-year ARM averaged 3.25 percent.

1-Year Adjustable Rate Mortgages

Also this week, the one-year Treasury-indexed ARM average dropped to 2.74 percent from last week when it averaged 2.78 percent. Last year at this time, the 1-year ARM averaged 2.99 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 eased somewhat this week on some worsening economic indicators bringing mortgage rates back into record low territory. Industrial production fell in two of the last three months ending in May, and below the expected market consensus forecast. In addition, consumer sentiment fell in June to its lowest level this year, according to the University of Michigan survey. In its June 20th monetary policy announcement, the Federal Reserve also noted growth in employment has slowed in recent months and household spending appears to be rising at a somewhat slower pace.

“However, there were also some positive indicators on the housing market. Construction on one-family homes rose for the third consecutive month in May to an annualized pace of 516,000. Furthermore, homebuilder confidence rose in June to its highest reading in over five years.”

Original Source: Freddie Mac

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.

Mortgage Rates Drop Again

Fixed Mortgage Rates Fall

30-Year Fixed Rate Mortgages

Average 30-year fixed rate mortgages eased this week amid worsening economic indicators including falling industrial production and falling consumer sentiment. According to Freddie Mac’s Primary Mortgage Market Survey (PMMS) the 30-year fixed-rate mortgage (FRM) averaged 3.66 percent for the week ending June 21, 2012 – down slightly last week when it averaged 3.71 percent. Last year at this time the 30-year FRM averaged 4.50 percent.

15-Year Fixed Rate Mortgages

The 15-year FRM also dropped slightly. The 15-year fixed rate mortgage averaged 2.95 percent for the week – down slightly from last week when it averaged 2.98 percent. Last year at this time, the 15-year FRM averaged 3.69 percent.

5-Year Adjustable Rate Mortgages

The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.77 percent – down from last week when they averaged 2.80 percent. A year ago, the 5-year ARM averaged 3.25 percent.

1-Year Adjustable Rate Mortgages

Also this week, the one-year Treasury-indexed ARM average dropped to 2.74 percent from last week when it averaged 2.78 percent. Last year at this time, the 1-year ARM averaged 2.99 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 eased somewhat this week on some worsening economic indicators bringing mortgage rates back into record low territory. Industrial production fell in two of the last three months ending in May, and below the expected market consensus forecast. In addition, consumer sentiment fell in June to its lowest level this year, according to the University of Michigan survey. In its June 20th monetary policy announcement, the Federal Reserve also noted growth in employment has slowed in recent months and household spending appears to be rising at a somewhat slower pace.

“However, there were also some positive indicators on the housing market. Construction on one-family homes rose for the third consecutive month in May to an annualized pace of 516,000. Furthermore, homebuilder confidence rose in June to its highest reading in over five years.”

Original Source: Freddie Mac

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.

Rates Keep Dropping…but for How Long?

According to Freddie Mac, rates on 30-year fixed-rate mortgages averaged 4.15 percent with an average 0.7 point for the week ending Aug. 18, down from 4.32 percent last week and a 2011 high of 5.05 percent in February.

These are new historical lows for 30-year fixed rate loans not seen since the week of November 11,  2010 when 30-year fixed-rate mortgages hit 4.17 percent. Rates on 15-year fixed rate loans haven’t been this low since 1991.

All these rate drops and the Mortgage Banker’s Association says that the demand for mortgages are down 13.5% from a year ago. Refinancing applications accounted for nearly 8 of 10 loan requests and up 8% from last week.  Some lenders are having a hard time keeping up with the refinancing boom – but not Inlanta Mortgage. Consult a licensed mortgage loan professional to discuss if refinancing is an the right option for you.

Mortgage Rates Fall – Refinancing on the Rise, Homes More Affordable

Many homeowners are taking advantage of record low mortgage rates. According to the Mortgage Bankers Association, refinance application volume has increased by 63% over the past month – up 21.7% from last week. If you own a home, have a good job, and can qualify for a mortgage – refinancing has the potential to reduce the amount you pay in interest over the life of your loan, reduce you monthly mortgage payments, and whittle down your principal mortgage balance faster. Obviously not every homeowner is in the same boat – so our licensed professional mortgage loan officers are ready to help you determine if you are in a good position to refinance.

S & P’s downgrade of the U.S.’s credit rating, the subsequent drop in stock market values, and European debt concerns have contributed to record low mortgage rates. Freddie Mac’s weekly survey of conforming interest rates lists 30-year fixed-rate mortgage rates at 4.32% for the week ending August 11th (today).  According to the National Association of Realtors affordability index – homes have never been more affordable than any other time since the group began keeping track.

Refinance? New Purchase? For more information, contact an Inlanta Mortgage Loan Officer here or locate a branch near you here.

Mortgage Rates are Historically Low!

Fifteen-year fixed rate mortgages and five-year adjustable rate mortgages hit record lows this week due to speculation that the U.S. economy is weaker than previously thought.

According to Freddie Mac, mortgage rates are averaging 3.54 percent compared to 3.66 percent last week and 3.95 percent one year ago. Five-year Treasury-indexed hybrid adjustable-rate mortgages averaged 3.18 percent, down from 3.25 percent last week and 3.63 percent a year ago. Rates on 30-year fixed-rate mortgages also fell, averaging 4.39 percent, their lowest level for 2011.

Many people aren’t taking advantage of low rates because they fear they will not qualify as a result of stricter financing requirements. Other people feel that prices have yet to bottom out. If you are considering a mortgage, it may be best to consult a professional mortgage loan officer to see what the scoop really is. Every person’s situation is unique and there are many mortgage loan products. A professional can help you discover what options are best suited to your needs.

Consult a qualified mortgage loan officer for more details on mortgage loans and rates. Rates are subject to change at any time.  To speak with an Inlanta Mortgage Loan Officer contact us here.