We are continuing to see an excellent environment for home buying, building, and refinancing higher rate mortgages
Wilmington, NC (PRWEB) December 04, 2012
Fixed mortgage rates held steady this week as they stay near record lows on average reports ForTheBestRate.com, a consumer focused mortgage research website. Mortgage pricing advertised in the rate tables on the website reflect the historically low cost of mortgage financing. On Friday, November 30th, 2012 30 year fixed rate pricing was advertised as low as 2.875% (APR: 3.128%, Points: 2.000, Fees in APR: $1950, Lender: LenderFi,) and 15 year fixed mortgage rates as low as 2.625% (APR: 2.625%, Points: 0.000, Fees in APR: $0, Lender: American Financial Resources.) 5 year arm rates were posted as low as 2.625% (APR: 2.678%, Points: 0.000, Fees in APR: $499, Lender: Interbank Mortgage Company.)
Mortgage pricing data released Thursday, November 29th, 2012 in the weekly mortgage rate survey from Freddie Mac, a government sponsored enterprise and purchaser of mortgage loans on the secondary market, also showed that mortgage rates saw little change when compared to the week before. 30 year fixed rates averaged 3.32% (0.8 points), up only slightly from the record setting 3.31% (0.7 points) average the week before. 15 year mortgage rates moved to 2.64% (0.7 points) on average, up from 2.63% (0.6 points,) also a new historic low set the week of November 21, 2012.
5 year adjustable rate mortgage pricing was down somewhat, to 2.72% (0.6 points) on average from 2.74% (0.6) the week prior.
"We are continuing to see an excellent environment for home buying, building, and refinancing higher rate mortgages," commented Shaun Hamman, VP of Residential Lending at American Financial Resources. "These historically low mortgage rates are helping to drive the housing recovery and millions of homeowners and home buyers stand to benefit as well," he continued.
Current mortgage rates for a number of different residential mortgage programs can be viewed on ForTheBestRate.com. Below is a snapshot of mortgage rates for a variety of products listed on the site on 11/30/2012. Milwaukee, WI mortgage rates represented in this sample. Rates are subject to change. Please visit the site to view the criteria used in the survey.
30 Year Mortgage Rates
Residential Finance Corporation - 3.000% Note Rate, 3.159% APR, 2.000 Points, $0 Fees in APR
Mortgage Capital Associates - 3.000% Note Rate, 3.159% APR, 2.000 Points, $0 Fees in APR
15 Year Fixed Mortgage Rates
Residential Finance Corporation - 2.500% Note Rate, 2.643% APR, 1.000 Points, $0 Fees in APR
Roundpoint Mortgage Company - 2.500% Note Rate, 2.643% APR, 1.000 Points, $0 Fees in APR
10 Year Fixed Mortgage Rates
Interbank Mortgage Company - 2.625% Note Rate, 2.625% APR, 0.000 Points, $0 Fees in APR
Mortgage Capital Associates - 2.625% Note Rate, 2.745% APR, 0.000 Points, $950 Fees in APR
5 Year Adjustable Rate Mortgage Rates
Roundpoint Mortgage Company - 1.875% Note Rate, 2.844% APR, 2.000 Points, $0 Fees in APR
EverBank - 2.250% Note Rate, 2.857% APR, 0.000 Points, $855 Fees in APR
ForTheBestRate.com is a website that offers information regarding mortgages, insurance, and personal finance. ForTheBestRate.com is owned by CMG Equities, LLC based in Wilmington, North Carolina.