Freddie Says: Mortgage Rates Mixed This Week

Mortgage rates were mixed this week, according to Freddie Mac's weekly survey. The average rate on a 30-year fixed-rate mortgage was 4.86 percent with an average 0.6 point, up from last week when it averaged 4.84 percent. Still a lot lower than last year's average of 6.01 percent thanks to the recession and the government programs designed to lower mortgage rates.

15-year fixed rate mortgages averaged 4.52 percent with an average 0.6 point, up from last week's average of  4.51 percent. Five-year Treasury-indexed hybrid adjustable-rate mortgages averaged 4.82 percent this week, with an average 0.6 point, down from last week when it averaged 4.90 percent. One-year Treasury-indexed ARMs averaged 4.71 percent this week with an average 0.6 point, down from last week when it averaged 4.78 percent. At this time last year, the 1-year ARM averaged 5.18 percent

Freddie Mac's vice president and chief economist Frank Nothaft said the following "Interest rates for fixed-rate mortgages were little changed this week following the release of April’s employment figures. The economy lost 539,000 jobs, less than the monthly job loss of the past five months, and the unemployment rate rose to 8.9 percent. ARM rates, however, fell slightly over the period."

Loan Type

Purchase Refinance with Cash out Refinance

State

Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District Of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming

FICO Score

Superior (780-850) Exceptional (760-779) Excellent (740-759) Very Good (720-739) Good (700-719) Above Average (680-699) Average (660-679) Fair (640-659) Need Improvement (620-639) Poor (350-620)

Loan Amount

$

Points

Up to 0 points Up to 0.5 points Up to 1 points Up to 1.5 points Up to 2 points Up to 2.5 points Up to 3 points

LTV

%

Loan Term

 15-Year Fixed  20-Year Fixed  30-Year Fixed  5-Year ARM  7-Year ARM  10-Year ARM

Show Advertiser Disclosure

The lenders whose rates and other terms appear on this chart are ICB's advertising partners. They provide their rate information to our data partner RateUpdate.com. Unless adjusted by the consumer, advertisers are sorted by APR from lowest to highest. For any advertising partners that do not provide their rate they are listed in advertisement display units at the bottom of the chart. Advertising partners may not pay to improve the frequency priority or prominence of their display. The interest rates, annual percentage rates and other terms advertised here are estimates provided by those advertising partners based on the information you entered above and do not bind. Any lender Monthly payment amounts stated do not include amounts for taxes and insurance premiums. The actual payment obligation will be greater if taxes and insurance are included. Although our data partner RateUpdate.com collects the information from the financial institutions themselves, the accuracy of the data cannot be guaranteed. Rates may change without notice and can change intraday. Some of the information contained in the rate tables including but not limited to special marketing notes is provided directly by the lenders. Please verify the rates and offers before applying for a loan with the financial institution themselves. No rate is binding until locked by a lender.

Lender

APR / Rate

Fees / Points

Payment

NMLS #2326098

License: 60DBO-181478

5.077%

15-Year Fixed

4.875%

$5,533

Includes 0.895 points for $3,580

Lender Fees: $1,953

$3,138 /mo

Next >

NMLS #1835285

5.204%

15-Year Fixed

4.990%

$5,660

Includes 0.915 points for $3,660

Lender Fees: $2,000

$3,162 /mo

Next >

NMLS #1025894

5.545%

15-Year Fixed

5.375%

$4,448

Includes 0.937 points for $3,748

Lender Fees: $700

$3,242 /mo

Next >

NMLS #3030

5.886%

15-Year Fixed

5.750%

$3,500

Includes 0.875 points for $3,500

Lender Fees: $0

$3,322 /mo

Next >

NMLS #401822

5.962%

15-Year Fixed

5.750%

$5,500

Includes 0.375 points for $1,500

Lender Fees: $4,000

$3,322 /mo

Next >

NMLS #1835285

6.013%

30-Year Fixed

5.875%

$6,000

Includes 1.000 points for $4,000

Lender Fees: $2,000

$2,367 /mo

Next >

NMLS #401822

6.048%

30-Year Fixed

5.875%

$7,500

Includes 0.875 points for $3,500

Lender Fees: $4,000

$2,367 /mo

Next >

NMLS #2326098

License: 60DBO-181478

6.105%

30-Year Fixed

5.990%

$5,125

Includes 0.793 points for $3,172

Lender Fees: $1,953

$2,396 /mo

Next >

NMLS #1025894

6.231%

30-Year Fixed

6.125%

$4,544

Includes 0.961 points for $3,844

Lender Fees: $700

$2,431 /mo

Next >

NMLS #3030

6.722%

30-Year Fixed

6.625%

$4,000

Includes 1.000 points for $4,000

Lender Fees: $0

$2,562 /mo

Next >

NMLS #2326098

License: 60DBO-181478

6.761%

5-Year ARM

6.625%

$5,829

Includes 0.969 points for $3,876

Lender Fees: $1,953

$2,562 /mo

Next >

NMLS #1835285

7.011%

5-Year ARM

6.875%

$5,560

Includes 0.890 points for $3,560

Lender Fees: $2,000

$2,628 /mo

Next >

Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Rate and product details.

“Relatively low house prices and interest rates are clearly helping first-time home buyers. Housing affordability for the median first-time buyer reached an all-time record high in the first quarter since the NAR index began in 1981. Consequently, first-time home buyers accounted for half of existing home sales in the first three months of this year, the NAR reported.”