Mortgage Market Recap

Couple reviewing mortgage documentsIt was another stellar week for mortgage rates as interest rate averages remained at their all-time lows for the third straight week.  Frank Nothaft, VP and Chief Economist at Freddie Mac, attributed the flat rate environment to mixed confidence measures. He noted that while small business  and home builder confidence rose, consumer sentiment fell more than expected.

Here are the national averages according the Freddie Mac’s Survey:
30 Year Fixed Average – 3.87%  with  .8 Points
15 Year Fixed Average – 3.16%  with  .8 Points
5/1 ARM Average – 2.82%  with  .8 Points
1/1 ARM Average – 2.84%  with  .6 Points

Below is a snaphot of current mortgage rates posted today on ForTheBestRate.com. Please note that interest rates are subject to change without notice and can vary for multiple reasons such as borrowers’ credit scores, the type of property being financed (i.e. stick built construction, manufactured homes, condos, etc), and the type of occupany (i.e. primary residences, second homes, investment properties). You can visit ForTheBestRate.com to connect with the various mortgage companies and to review the criteria used in the survey.

State for Snapshot: NC Mortgage Rates (rate and term refinance rates with 0 points)

30 Year Mortgage Rates
Amerisave –  4.000% Note Rate – $1995 Fees in APR – 4.083% APR
FFSi – 3.750%  Note Rate – $0 Fees in APR – 3.750% APR
Everbank – 3.875%  Note Rate – $852 Fees in APR – 3.910% APR
Quicken Loans – 4.375% Note Rate – $1557 Fees in APR – 4.441% APR

20 Year Mortgage Rates
FFSi –  3.500% Note Rate – $0 Fees in APR – 3.500% APR
AimLoan.com – 3.500%  Note Rate – $1995 Fees in APR – 3.613.% APR
Everbank – 3.625%  Note Rate – $852 Fees in APR – 3.674% APR
Quicken Loans – 4.125% Note Rate – $1807 Fees in APR – 4.230% APR

 

Skip to toolbar