Wilmington, NC (PRWEB) May 01, 2013
Mortgage rates for the most popular programs were down on average this week reports mortgage rate research website, ForTheBestRate.com, allowing many home buyers and home owners to finance the purchase of or refinance a home at an extremely low cost. On Friday, April 26th, 2013 30 year home loan rates as low as 3.000% (APR: 3.157%, Points: 1.500, Fees in APR: $795, Lender: US Wide Financial) were advertised in the rate tables on the website. 15 year fixed rates were posted as low as 2.375% (APR: 2.452%, Points: 0.000, Fees in APR: $896, Lender: Home Loan Enterprises,) and 5/1 ARM interest rates as low as 2.375% (APR: 2.572%, Points: 0.000, Fees in APR: $750, Lender: WCS Lending) were advertised.
The weekly survey of mortgage rates released by Freddie Mac, a government sponsored enterprise and purchaser of mortgage loans on the secondary market, on Thursday, April 25th, 2013 also revealed the fall in pricing. The data showed that 30 year fixed mortgage rates dropped to an average of 3.40% (0.8 points), down slightly from 3.41% (0.7 points) the week before. 15 year fixed rates were also down on average to a record setting 2.61% (0.7 points) from 2.64% (0.7 points) one week earlier. 5 year adjustable rate pricing moved lower to 2.58% (0.5 points) on average, down from 2.60% (0.5 points.)
Even 1 year adjustable rates moved lower this week, averaging 2.62% (0.4 points), just below the 2.63% (0.4 points) average one week before.
"As mortgage rates continue to move lower they are helping to keep home buying and owning more affordable," commented Shaun Hamman, VP of Residential Lending at American Financial Resources, a National mortgage lender with its headquarters in Parsippany, NJ. "In addition to aiding the housing recovery, this allows more people to purchase homes, and frees up funds for other uses throughout the economy."
Below is a snapshot of interest rates for a variety of programs listed on 4/26/13 on ForTheBestRate.com. Colorado Springs, CO mortgage rates represented in this survey. 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, 3.330% APR, 1.000 Points, $0 Fees in APR
AimLoan.com - 3.125% Note Rate, 3.203% APR, 0.500 Points, $795 Fees in APR
15 Year Fixed Mortgage Rates
Smarter Mortgages by Fearon Financial - 2.500% Note Rate, 2.500% APR, 0.000 Points, $0 Fees in APR
The Money Store - 2.500% Note Rate, 2.500% APR, 0.000 Points, $0 Fees in APR
10 Year Fixed Mortgage Rates
US Wide Financial - 2.250% Note Rate, 2.354% APR, 0.500 Points, $0 Fees in APR
Roundpoint Mortgage Company - 2.250% Note Rate, 2.458% APR, 1.000 Points, $0 Fees in APR
5 Year Adjustable Rate Mortgage Rates
Third Federal Savings & Loan - 2.390% Note Rate, 2.621% APR, 0.000 Points, $1703 Fees in APR
Loan Depot - 2.625% Note Rate, 2.660% APR, 0.500 Points, $0 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. For more information, visit http://www.forthebestrate.com/