Many home buyers and homeowners have an opportunity to secure home financing at an incredibly low cost, even those with little to no equity thanks to the HARP refinancing program
Wilmington, NC (PRWEB) August 14, 2012
Update 2/19/2013: BurlingtonMortgage.biz is now PriceAMortgage.com which is also owned and operated by CMG Equities, LLC in Wilmington, North Carolina.
Average mortgage rates rose for the second consecutive week, reports mortgage rate research website, BurlingtonMortgage.biz. Rate and fee combinations posted by mortgage banks and lenders in the rate tables on the website reflected the increase, though the price of home financing remains close to historic lows.
On Thursday, August 9th, 2012 30 year fixed home loan pricing was advertised on the site as low as 3.13% (APR: 3.34%, Points: 1.468, Fees in APR: $1995, Lender: AimLoan.com,) and 15 year fixed mortgage rates were shown as low as 2.75% (APR: 2.75%, Points: 0.000, Fees in APR: $0, Lender: Pleasant Valley Home Mortgage.) Rates for the 5 year adjustable rate mortgage product were posted as low as 2.13% (APR: 3.09%, Points: 1.000, Fees in APR: $2460, Lender: Credence Mortgage.)
The increase came on the heels of a positive employment report, showing that US employment rose by 163,000 jobs in July. The news from a Friday, August 3rd Bureau of Labor Statistics report revealed that while the unemployment rate of 8.3 percent held constant, more jobs were added than expected, causing investors to continue to cautiously move funds away from the security of US Treasuries.
"Though mortgage rates have seen two weeks of increases we are still just above the historic low point," said Nat Criss, Managing Partner of CMG Equities, LLC, which runs BurlingtonMortgage.biz. "Many home buyers and homeowners have an opportunity to secure home financing at an incredibly low cost, even those with little to no equity thanks to the HARP refinancing program," he continued.
Current mortgage rates for a number of different residential mortgage programs can be viewed on BurlingtonMortgage.biz. Below is a snapshot of mortgage rates for a variety of products listed on the site on 8/9/2012. Baltimore, MD 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 Fixed Mortgage Rates
Atlantic Mortgage & Funding, Inc. - 3.25% Note Rate, 3.40% APR, 1.375 Points, $795 Fees in APR
AmeriSave - 3.25% Note Rate, 3.46% APR, 1.453 Points, $1995 Fees in APR
15 Year Fixed Mortgage Rates
Mortgage Capital Associates - 2.88% Note Rate, 2.88% APR, 0.000 Points, $0 Fees in APR
LenderFi.com - 2.75% Note Rate, 2.92% APR, 0.000 Points, $1950 Fees in APR
10 Year Fixed Mortgage Rates
Pleasant Valley Home Mortgage - 2.75% Note Rate, 2.75% APR, 0.000 Points, $0 Fees in APR
Hamilton National Mortgage Company - 2.75% Note Rate, 2.75% APR, 0.000 Points, $0 Fees in APR
5 Year Adjustable Rate Mortgage Rates
Absolute Mortgage - 2.25% Note Rate, 3.07% APR, 0.000 Points, $2697 Fees in APR
Roundpoint Mortgage Company - 2.13% Note Rate, 3.05% APR, 2.000 Points, $620 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.