Mortgage Rates Change Little in This Week’s Mortgage Survey

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Mortgage rates barely changed in this week's Primary Mortgage Market Survey. In the survey released by Freddie Mac this morning the current average 30 year conforming mortgage  rate is at 3.55 percent with 0.7 mortgage points for the week ending September 6, 2012, a decline from last week's average 30 year mortgage rate of 3.59 percent. Today's mortgage rates on 30 year conforming loans are just above an all-time record low of 3.49 percent set on July, 26, 2012.

This coming week current mortgage rates could plunge even further if a week employment report comes out tomorrow and the FOMC decides to start a third round of quantitative easing. QE3 would involve the Fed buying long term bonds to force long term Treasury yields lower. This in-turn would drive mortgage rates even lower. We could see average 30 year mortgage rates decline to 3.25 percent in Freddie's survey if the Fed eases in the coming weeks.



Currently on our 30 year refinance rates list you can find lenders offering rates well below the average rate. Right now on our 30 year refinance rates list in Texas there are lenders offering 30 year Texas refinance rates at 3.13 percent with points. Fearon Financial is offering 30 year rates at 3.13 percent with 0.50 points and LenderFi.com is offering rates at 3.13 percent with 0.875 points. If you don't want to pay points LenderFi.com is also listed offering 30 year refi rates at 3.25 percent without points.

Mortgage rates today on 15 year conforming loans were unchanged at 2.86 percent for the week ending September 6, 2012. Average mortgage discount points on 15 year loans were at 0.6 points. As with 30 year mortgage rates you can find mortgage rates today on 15 year loans below the average.

Right now on our 15 year refinance rates list in the state of Florida there is one lender offering 15 year mortgage refinance rates at 2.38 percent. Aimloan.com is listed as offering 15 year Florida refinance rates at 2.38 percent with 1.512 mortgage points. The lowest refinance rates without points is at 2.75 percent. There are several lenders offering 15 year refi rates in Florida with no points on our rate list.

Today's mortgage rates on both 5 year and 1 year adjustable conforming loans are lower in Freddie's survey. Average 5 year adjustable mortgage rates were at 2.75 percent with 0.7 mortgage points for the week ending September 6, 2012, down from the prior week's average of 2.78 percent. Current 1 year adjustable mortgage rates are at 2.61 percent with 0.4 points, down from an average 1 year adjustable mortgage rate of 2.63 percent.

There are lenders offering refinance rates today on our 5 year adjustable refinance rate list in California below the average rate. The best California refinance rates are at 1.88 percent with points. Integrity First is offering 5 year adjustable refi rates in California at 1.88 percent with 2.00 points and Amerisave is offering 5 year adjustable refinancing rates at 1.88 percent with 1.823 points. If you don't want to pay points the lowest rate is at 2.50 percent, several lenders are offering rates at 2.50 percent with no points.
 
Author: Brian McKay
September 6th, 2012