It has allowed many many homeowners take advantage of refinancing or purchasing homes with an extremely low cost of financing, rather than just handful who are paying close attention to the market and are able to time it just right
Wilmington, NC (PRWEB) September 17, 2012
Fixed mortgage rates were largely unchanged this week, falling slightly as they stay near historic lows, reports ForTheBestRate.com, a consumer focused mortgage research website. As a result mortgage banks and lenders have continued to promote incredibly low mortgage rate and fee combinations in the ForTheBestRate.com rate tables. On Friday, September 14th, 2012 30 year fixed mortgage rates as low as 3.125% (APR: 3.289%, Points: 0.875, Fees in APR: $1950, Lender: LenderFi.com) were advertised, with 15 year fixed mortgage pricing posted as low as 2.750% (APR: 2.750%, Points: 0.000, Fees in APR: $0, Lender: American Financial Resources.)
Mortgage rates for 5 year adjustable rate loans, which saw a larger drop on average, were posted as low as 2.375% (APR: 2.648%, Points: 1.010, Fees in APR: $0, Lender: Loan Depot.)
Mortgage pricing data released Thursday, September 13th, 2012 in the weekly survey of mortgage rates from Freddie Mac, a government sponsored enterprise and purchaser of mortgage loans on the secondary market, also showed that on average fixed mortgage rates remained close to the pricing seen one week earlier. 30 year fixed rates averaged 3.55% (0.6 points) for the week ending September 13th, 2012, with only the fees and points changing from last week's average of 3.55% (0.7 points.) 15 year mortgage rates moved to 2.85% (0.6 points) on average from an only slightly higher 2.86% (0.6 points.) 5 year ARM rates fell by a larger margin to 2.72% (0.6 points) from 2.75% (0.7 points.)
"It's been extraordinary to see these sustained low mortgage rates week after week," commented Kelly Decker a Texas mortgage banker based in McKinney, TX. "It has allowed many many homeowners take advantage of refinancing or purchasing homes with an extremely low cost of financing, rather than just handful who are paying close attention to the market and are able to time it just right."
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 9/14/2012. Houston, TX 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
Great Western Financial Services, Inc. - 3.250% Note Rate, 3.297% APR, 0.000 Points, $975 Fees in APR
Home Loan Enterprise - 3.250% Note Rate, 3.298% APR, 0.000 Points, $996 Fees in APR
20 Year Mortgage Rates
National Mortgage Alliance - 3.250% Note Rate, 3.257% APR, 0.000 Points, $100 Fees in APR
Roundpoint Mortgage Company - 3.250% Note Rate, 3.363% APR, 1.000 Points, $0 Fees in APR
15 Year Mortgage Rates
B2Funding - 2.750% Note Rate, 2.841% APR, 0.000 Points, $1047 Fees in APR
Interbank Mortgage Company - 2.875% Note Rate, 2.875% APR, 0.000 Points, $0 Fees in APR
5 Year Adjustable Rate Mortgage Rates
Great Western Financial Services, Inc. - 2.625% Note Rate, 2.700% APR, 0.000 Points, $975 Fees in APR
EverBank - 2.375% Note Rate, 3.003% 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.