Interest Rates

30-Year Fixed Rate Mortgages

According to Freddie Mac’s Primary Mortgage Market Survey (PMMS) average 30-year fixed rate mortgages rose for the week ending January 31, 2013. The average 30-year fixed rate mortgage rose to 3.53 percent – a jump from last week’s average of 3.42 percent. Last year at this time the 30-year FRM averaged 3.87 percent.

15-Year Fixed Rate Mortgages

Average 15-year fixed rate mortgages averaged 2.81 percent, up from last week when it averaged 2.71. Last year at this time, the 15-year FRM averaged 3.14 percent.

5-Year Adjustable Rate Mortgages

The average five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) is up to 2.70 percent from 2.67 percent  last week. A year ago, the 5-year ARM averaged 2.80 percent.

1-Year Adjustable Rate Mortgages

The average one-year Treasury-indexed ARM also rose to 2.59 percent from 2.57 percent last week. Last year at this time, the 1-year ARM averaged 2.76 percent.

Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac:

“Mortgage rates continued to trend upwards this week amid a growing economy led in part by the recovering housing market. For instance, new home sales totaled 367,000 in 2012, the most in three years and reflected the first annual increase in seven years. Pending home sales in 2012 averaged its highest reading since 2006. And the S&P/Case-Shiller® 20-city composite house price index rose 5.5 percent over the 12-months ending in November 2012, the largest annual growth since August 2006. All of these factors helped residential fixed investment to add nearly 0.4 percentage points to real GDP growth in the fourth quarter alone.”

Original Source: Freddie Mac Interest rates listed above are national averages as reported by Freddie Mac. Individual interest rates are dependent upon credit approval and may include points. Average mortgage points are also reported in Freddie Mac’s Primary Mortgage Market Survey. Other mortgage financing fees may apply.

Inlanta Mortgage is proudly celebrating twenty years in business. Learn more about Inlanta’s twenty year history here.

Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is fully delegated HUD-FHA including FHA 203K, VA, and USDA approved. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs here.

Inlanta Mortgage is a multi-state mortgage banker based out of Brookfield, Wisconsin. NMLS# 1016. Inlanta Mortgage is proud to be a recent recipient of a 2012 Top Workplace Award.

 

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About Best Florida Mortgage Company! Jim Marcinkowski

Mission Statement Our mission is to be the home financing partner that you trust to serve your family, friends and community. Through our family of dedicated mortgage professionals, our commitment is to deliver an exceptional experience. Our unwavering dedication to integrity, honesty and ethics is the foundation of all of our relationships. NMLS 182565, NMLS 1016
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