This prolonged availability of great home loan pricing is allowing more and more households to refinance or purchase an extremely low rate
Wilmington, NC (PRWEB) September 11, 2012
30 year fixed home loan rates were down this week, dropping near the record low point, reports mortgage rate research website, BurlingtonMortgage.biz. Home loan pricing advertised in the rate tables on the website reflected the decrease, with 30 year fixed rates posted as low as 3.125% (APR: 3.315%, Points: 1.160, Fees in APR: $1995, Lender: AmeriSave) on Friday, September 7th, 2012 15 year fixed rates, which on average did not change in the past week, were posted as low as 2.750% (APR: 2.750%, Points: 0.000, Fees in APR: $0, Lender: American Financial Resources.)
Economic news affecting mortgage rates and other US markets continues to be mixed. Positive indicators such as increases in home prices and pending home sales are tempered by decreased construction spending and other negative news.
"It's great to see this period of historically low mortgage rates continuing," commented Shaun Hamman, VP of Residential Lending at American Financial Resources, a National mortgage lender. "Many homeowners or home buyers couldn't take advantage of low interest rates in earlier months due to lack of employment, lack of equity, or because they hadn't found a property to purchase. This prolonged availability of great home loan pricing is allowing more and more households to refinance or purchase an extremely low rate," he continued.
Current mortgage rates for a number of different residential mortgage programs can be viewed on BurlingtonMortgage.biz. Below is a snapshot of Michigan mortgage rates for a variety of products listed on the site on 9/7/2012. Rates are subject to change. Please visit the site to view the criteria used in the survey.
30 Year Fixed Mortgage Rates
American Financial Resources - 3.250% Note Rate, 3.374% APR, 1.000 Points, $895 Fees in APR
Roundpoint Mortgage Company - 3.250% Note Rate, 3.411% APR, 2.000 Points, $0 Fees in APR
15 Year Fixed Mortgage Rates
AmeriSave - 2.375% Note Rate, 2.794% APR, 1.700 Points, $1995 Fees in APR
EverBank - 2.750% Note Rate, 2.824% APR, 0.000 Points, $855 Fees in APR
10 Year Fixed Mortgage Rates
American Financial Resources - 2.750% Note Rate, 2.750% APR, 0.000 Points, $0 Fees in APR
EverBank - 2.750% Note Rate, 2.858% APR, 0.000 Points, $855 Fees in APR
5 Year Adjustable Rate Mortgage Rates
Loan Depot - 2.375% Note Rate, 2.648% APR, 1.010 Points, $641 Fees in APR
Gold Star Mortgage Financial Group - 2.375% Note Rate, 2.689% APR, 1.000 Points, $900 Fees in APR
BurlingtonMortgage.biz is a website that offers information regarding mortgages and personal finance. BurlingtonMortgage.biz is owned by CMG Equities, LLC based in Wilmington, North Carolina.
Update 2/19/2013: BurlingtonMortgage.biz is now PriceAMortgage.com which is also owned and operated by CMG Equities, LLC in Wilmington, North Carolina.