Today’s Mortgage Rates Move Higher as Property Values Rise $372 Billion in Q1

Today's mortgage rates are higher as Treasury yields bounced off record lows set last week. In another report homeowners saw an aggregate $372 billion rise in property values over the first three months of 2012 according to a statistical release from the Federal Reserve.

Record low mortgage rates today are finally helping the housing market recover from some of the home price declines since 2006. Record low refinance rates are also helping millions of homeowners refinance to a lower refinance rate.

Current mortgage rates which are only sightly higher from all-time record lows haven't curtailed the demand for mortgages as the MBA's survey showed a 18 percent increase in the demand for mortgage loans this week.

Loan Term
Lender
APR / Rate
Fees / Points
Payment
Tomo Mortgage, LLC.
NMLS #2059741
5.606%
15-Year Fixed
5.490%
$3,032
Includes 0.758 points for $3,032
Lender Fees: $0
$3,267 /mo
Bison State Bank
NMLS #757416
5.630%
15-Year Fixed
5.490%
$3,648
Includes 0.912 points for $3,648
Lender Fees: $0
$3,267 /mo
Mutual of Omaha Mortgage, Inc.
NMLS #1025894
5.650%
15-Year Fixed
5.490%
$4,172
Includes 0.868 points for $3,472
Lender Fees: $700
$3,267 /mo
Different Mortgage
NMLS #324599
License: 324599
5.673%
15-Year Fixed
5.500%
$4,570
Includes 0.875 points for $3,500
Lender Fees: $1,070
$3,269 /mo
DECO Mortgage
NMLS #2561451
6.485%
30-Year Fixed
6.375%
$4,679
Includes 0.671 points for $2,684
Lender Fees: $1,995
$2,496 /mo
Different Mortgage
NMLS #324599
License: 324599
6.494%
30-Year Fixed
6.375%
$5,070
Includes 1.000 points for $4,000
Lender Fees: $1,070
$2,496 /mo
Tomo Mortgage, LLC.
NMLS #2059741
6.569%
30-Year Fixed
6.490%
$3,292
Includes 0.823 points for $3,292
Lender Fees: $0
$2,526 /mo
Bison State Bank
NMLS #757416
6.590%
30-Year Fixed
6.500%
$3,744
Includes 0.936 points for $3,744
Lender Fees: $0
$2,529 /mo
Mutual of Omaha Mortgage, Inc.
NMLS #1025894
6.600%
30-Year Fixed
6.490%
$4,592
Includes 0.973 points for $3,892
Lender Fees: $700
$2,526 /mo
HSBC Bank USA, N.A.
NMLS #399799
6.722%
30-Year Fixed
6.625%
$4,184
Includes 0.714 points for $2,856
Lender Fees: $1,328
$2,562 /mo
PenFed Credit Union
NMLS #401822
6.734%
30-Year Fixed
6.625%
$4,495
Includes 0.625 points for $2,500
Lender Fees: $1,995
$2,562 /mo
Different Mortgage
NMLS #324599
License: 324599
6.743%
5-Year ARM
6.625%
$4,954
Includes 0.971 points for $3,884
Lender Fees: $1,070
$2,562 /mo
PenFed Credit Union
NMLS #401822
7.698%
15-Year Fixed
7.375%
$8,000
Includes 1.000 points for $4,000
Lender Fees: $4,000
$3,680 /mo
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.

In Freddie Mac's Primary Mortgage Market Survey this week fixed conforming mortgage rates increased while adjustable conforming mortgage rates decreased. There we no big moves in average rates this week since bond yields traded in tight range of less than 15 basis points.

30 year conventional mortgage rates averaged 3.71 percent with 0.7 mortgage points for the week ending June 14, 2012, up from the previous week's average 30 year mortgage rate of 3.67 percent. Today's mortgage rates for 30 year loans are averaging 3.67 percent (National Average Bankrate.com Mortgage Rates).

Conventional 15 year mortgage rates averaged 2.95 percent with 0.7 points for the week ending June 14, 2012, up from the prior week's average 15 year mortgage rate of 2.94 percent. This is the third consecutive week 15 year mortgage rates have remained under 3.00 percent in the PMMS. Mortgage rates currently on 15 year mortgage loans are averaging 3.02 percent.

5 year adjustable mortgage rates today are averaging 2.80 percent with 0.6 points for the that ended on June 14, 2012, a decline from last week's average 5 year adjustable mortgage rate of 2.84 percent.

Adjustable mortgage rates currently on 1 year loans are averaging 2.75 percent. In Freddie Mac's PMMS 1 year adjustable mortgage rates declined to 2.78 percent with 0.5 mortgage points for the week ending June 14, 2012, a 1 basis point decrease from the prior week's average 1 year adjustable mortgage rate of 2.79 percent.

 
Author: Brian McKay
June 14th, 2012

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