Welcome!




Expand Your Education with These Courses from
The Psychology of Consultative Selling: Skills for Sales Success: Part Four.
Expand your education through NAR's REALTOR® University: A Consumer Advocate Approach to Mortgages: Course 2.
A Consumer Advocate Approach to Real Estate & Mortgages: Courses 1 & 2.
Accredited Buyer's Representative.
Bundle 1: CIPS Core Courses (Non-US Version).

LendingTree Weekly Mortgage Rate Pulse Reports Rates Continue to Fall

Have a comment on this article? Share on Facebook!

RISMedia, June 10, 2011—Average mortgage rates fell week-over-week according to the LendingTree Weekly Mortgage Rate Pulse, which tracks the lowest and average mortgage rates offered by lenders on the LendingTree network.

On June 7, average home loan rates offered by LendingTree network lenders were 4.71 percent (4.95 percent APR) for 30-year fixed mortgages, 3.99 percent (4.37 percent APR) for 15-year fixed mortgages and 3.27 percent (3.47 percent APR) for 5/1 adjustable rate mortgages (ARM). Rates for all loan types fell week-over-week, with 30 and 15-year fixed mortgage rates reaching their lowest levels in over six months. The last time rates for these loan types were this low was in November 2010.

On the same day, the lowest mortgage rates offered by lenders on the LendingTree network were 4.375 percent (4.51 percent APR) for a 30-year fixed mortgage, 3.375 percent (3.61 percent APR) for a 15-year fixed mortgage and 2.75 percent (3.12 percent APR) for a 5/1 ARM. Rates for 30-year and 5/1 mortgages were flat week-over-week, while 15-year fixed rates fell one-eighth of a point.

“Mortgage rates are continuing their nose dive, now hitting the lowest level we’ve seen in over six months,” says Cameron Findlay, Chief Economist of LendingTree.com. “While low mortgage rates are important for the housing market recovery, the ability of borrowers to qualify and take advantage of these rates is of equal importance. The federal definition of a Qualified Residential Mortgage (QRM) has the potential to severely limit the number of borrowers who can qualify for a mortgage, thus further depressing the housing market and pushing out the recovery timeline by years.“

For more information on current mortgage rates or for state specific mortgage rates, please visit http://www.lendingtree.com/mortgage-loans/rates/.

The LendingTree Weekly Mortgage Rate Pulse is published every Wednesday. Home loan rates above are reflective of actual rates offered to borrowers by lenders on the LendingTree network. Lowest rates shown reflect the payment of one discount point. Rates will vary based on the borrower’s loan details and credit profile. Visit www.lendingtree.com to learn more.

Want instant access to great articles like this for your blog or newsletter? Check out our 30-day FREE trial of REsource Licensed Real Estate Content Solutions. Need easy stay-in-touch e-Marketing solutions too? Try Pop-a-Note for 99 cents!
Join RISMedia on Twitter and Facebook to connect with us and share your thoughts on this and other topics.




Categories: Real Estate News

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Copyright© 2014 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

Content on this website is copyrighted and may not be redistributed without express written permission from RISMedia. Access to RISMedia archives and thousands of articles like this, as well as consumer real estate videos, are available through RISMedia's REsource Licensed Content Solutions. Offering the industry’s most comprehensive and affordable content packages. Click here to learn more! http://resource.rismedia.com

Our Latest News >>