Mortgage Rates Lowest Since December 2010

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Mortgage interest rates fall to the lowest levels since the end of 2010.

Wilmington, NC (I-Newswire) May 5, 2011 - Mortgage rates fell for the third consecutive week to levels not seen since December 2010 according to mortgage rate research web site, ForTheBestRate.com. Among survey participants, interest rate APRs as low as 4.507% for 30 year rates, 3.931% for 15 year rates, and 2.952% for 5 year ARM pricing were advertised.

Freddie Mac recently released similar findings noting that 30 year fixed rate averages in the United States fell to 4.71% (.7 points) while 15 year rates dipped to 3.89% (.7 points). Nat Criss, Managing Partner of CMG Equities, LLC in Wilmington, North Carolina weighed in noting that there has been a substantial increase in web site traffic and inquiries over the past few weeks as interest rates continued to fall. "We've had a flurry of activity recently as news is starting to spread. People are getting off the sidelines and considering refinancing and locking in these historically great rates", stated Criss.

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Below is a snapshot of interest rates for a variety of programs listed on ForTheBestRate.com 5/5/2011. Rates are subject to change. Please visit the site for criteria used in the survey.

30 Year Mortgage Rates (0 pts)
AimLoan.com - 4.500% Note Rate - 4.585% APR - $1,975 Fees in APR

20 Year Mortgage Rates (0 pts)
Gateway Bank Mtge - 4.375% Note Rate - 4.426% APR - $875 Fees in APR

15 Year Mortgage Rates (0 pts)
Gateway Bank Mtge - 3.875% Note Rate - 3.940% APR - $875 Fees in APR

7/1 ARM Rates (0 pts)
AimLoan.com - 3.250% Note Rate - 3.329% APR - $1,975 Fees in APR

5/1 ARM Rates (0 pts)
AimLoan.com - 2.875% Note Rate - 2.952% APR - $1,975 Fees in APR

About ForTheBestRate.com:
ForTheBestRate.com is a mortgage rate research web site where consumers can compare current mortgage rates, APRs, and closing cost information from competing mortgage lenders, brokers, and banks from around the United States. ForTheBestRate.com is not a mortgage company and does not make loans of any kind. Rates are posted online and updated daily. Interest rates are subject to change without notice. Please visit ForTheBestRate.com for up-to-date pricing information and to verify the criteria used the survey.

Company Contact Information
ForTheBestRate.com
Megan Criss
505 South 4th St
28401
Phone : 910-547-6908

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Business > Finance

Tags:

Real Estate refinance mortgage finance mortgage rates

Published on:

May 5, 2011

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