Homeowners and home shoppers who worried the window of extremely low interest rates might be closing after seeing a few weeks of pricing increases will likely be pleased to see this latest drop in mortgage rates
Wilmington, NC (PRWEB) September 05, 2012
Fixed mortgage rates were down this week for both the 30 year and 15 year home loan products, reports mortgage rate research website, BurlingtonMortgage.biz. Rate and fee combinations posted in the rate tables on the website reflected the decrease in the cost of home financing, with 30 year fixed mortgage rates advertised as low as 3.13% (APR: 3.31%, Points: 1.162, Fees in APR: $1995, Lender: AmeriSave,) and 15 year fixed mortgage rates shown as low as 2.75% (APR: 2.75%, Points: 0.000, Fees in APR: $0, Lender: American Financial Resources) on Thursday, August 30th.
Though there continues to be positive news from the real estate market, with the National Association of Realtors(R) reporting an increase of 2.4% among pending home sales in July over June, the overall economic outlook is less rosy. In the most recent meeting of the monetary policy committee of the Federal Reserve it was noted that economic activity had further decelerated to a slower pace than was anticipated.
"Homeowners and home shoppers who worried the window of extremely low interest rates might be closing after seeing a few weeks of pricing increases will likely be pleased to see this latest drop in mortgage rates," commented Kelly Decker, a Texas mortgage banker based in McKinney, TX. "The cost of financing a home remains close to as low as we have ever seen it," he continued.
Current mortgage rates for a number of different residential mortgage programs can be viewed on BurlingtonMortgage.biz. Below is a snapshot of Texas mortgage rates for a variety of products listed on the site on 8/30/2012. Rates are subject to change. Please visit the site to view the criteria used in the survey.
30 Year Fixed Mortgage Rates
AimLoan.com - 3.13% Note Rate, 3.32% APR, 1.180 Points, $1995 Fees in APR
First Internet Bank - 3.13% Note Rate, 3.32% APR, 2.000 Points, $1428 Fees in APR
15 Year Fixed Mortgage Rates
AmeriSave - 2.38% Note Rate, 2.81% APR, 1.785 Points, $1995 Fees in APR
InterBank - 2.88% Note Rate, 2.88% APR, 0.000 Points, $0 Fees in APR
10 Year Fixed Mortgage Rates
American Financial Resources - 2.75% Note Rate, 2.75% APR, 0.000 Points, $0 Fees in APR
B2 Funding - 2.75% Note Rate, 2.75% APR, 0.000 Points, $547 Fees in APR
5 Year Adjustable Rate Mortgage Rates
Loan Depot - 2.38% Note Rate, 2.66% APR, 1.010 Points, $0 Fees in APR
WCS Lending - 2.63% Note Rate, 2.71% APR, 0.000 Points, $895 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.