Mortgage Marvel Rate Trends Shows 30-Year Fixed Rates Continue Downward Trend
(firmenpresse) - MEQUON, WI -- (Marketwire) -- 09/07/11 -- The European debt crisis and fears of another U.S. recession continued to fuel investors' flight to quality with investments in long-dated treasury debt. The 10-year treasury yield dropped 0.26% from 2.23% a week ago to 1.97% yesterday. Mortgage Marvel Rate Trends™, a daily survey of over 1,000 lenders, shows 30-year, fixed rates decreasing 0.08% over the past week to 4.23% from last week's value of 4.31%. The fact that mortgage rates are not dropping at the same pace as the benchmark treasury rate suggests that lenders and investors are holding rates a bit higher to manage application volume and increase profit margins.
Current rates are threatening the all-time low, finishing the week just 0.06% above the 4.17% low set on August 18th and nearly a point lower than the 6-month high of 5.08% reached on April 9th, 2011.
*Change based on difference from current rate
Fifteen-year fixed rates decreased in tandem with 30-year rates, dropping 0.08% to 3.39% from 3.47% last week. 5/1 ARM rates dropped 0.04% to 3.39%. The rates for 30-year, fixed rate jumbo loans (typically loans over $417,000) decreased 0.04% to 5.24% from 5.28% last week.
For comparison sake, displayed rates feature 0 discount points unless otherwise indicated. The assumed loan amount and loan-to-value ratio are $500,000 and 66% for jumbo loans and $187,500 and 75% for all other programs.
For more detailed information, including an interactive graph and state-level detail, go to .
For specific rates and closing costs in your area, go to .
Mortgage Marvel Rate Trends pulls rates every day directly from the live product and pricing database of 950 national, regional, and local banks and credit unions across the country. Mortgage Marvel Rate Trends includes average rates for conforming (i.e. loans below $417,000) and jumbo loan programs across all common fixed and adjustable rate products. Mortgage Marvel Rate Trends also separately tracks rates for purchase, rate & term refinance, and cash-out refinance transactions for every product and program, and for every state and region in the U.S.
Mortgage Marvel () presents free, accurate, up-to-date mortgage quotes from multiple lenders in an easy-to-understand display. It further enables borrowers to link directly to their preferred lender -- where they can complete a mortgage application and get approved with full disclosures, all in about 20 minutes or less.
Mortgage Marvel is operated by Mortgagebot LLC (), the industry leading, Inc. 5000 company that provides the unique, award-winning PowerSite family of integrated point-of-sale (IPOS) solutions. Mortgagebot blends deep mortgage experience with innovative "cloud-computing" technology to create scalable and affordable Web sites for nearly 1,000 banks and credit unions nationwide.
To learn more about Mortgagebot, call:
Cindy Golisch
President
PR Unlimited
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Datum: 07.09.2011 - 21:17 Uhr
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News-ID 63404
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