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Current Mortgage Interest Rates offers the Lowest Rates online every day!
Find the lowest mortgage interest rates with refinance mortgage loans, fixed, variable & interest only rates for conforming and government lending. The Federal Reserve continues to lower the mortgage rates in an effort to curb foreclosures and subprime mortgage defaults. The Obama Administration has pledged to keep current mortgage rates low for 2013 and 2014 in an effort to aid the sluggish housing sector.

Fixed Mortgage Rates starting at 2.625%

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What better way to start the New Year out than to lower your monthly payments? Whether you want to reduce your mortgage bills, secure a second mortgage, or take out a debt consolidation loan, Current Mortgage Interest Rates would like to help!

Current 30-Year Mortgage Rates

The current FHA mortgage rate remains competitive with conventional and VA rates. The Housing of Urban Development and the government recently passed the mortgage modernization bill that temporarily raised loan limits for 2013. The new loan limits will go up to $729,000 in certain regions with higher cost of living indexes. Get more mortgage news online with updates and interest rates for FHA, VA, conforming, subprime and equity loans.

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Starting with the Federal Reserve, while they were criticized just two weeks ago for not cutting their rates aggressively enough, they took a different approach this week that traders applauded. The Fed had already announced a week and a half ago that they were going to auction off $40 billion in short-term debt to any financial institutions that needed it. However, after their first $20 billion installment last Monday received such high demand, they issued another $20 billion later in the week, which got almost the same interest. Due to the success, they proclaimed that they would continue offering money as long as the demand was there. It showed a renewed determination by the Fed to stave off a recession. Many executives in the mortgage industry have voiced their concerns that the Fed cannot keep home loan rates this low for much longer as inflation creeps in. Many economists are predicting that bank mortgage rates will rise significantly in 2014 and 2015 as a result.

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Current Mortgage Interest Rate Market Update

Mortgage Rate Trend

Loan Term

Current

Previous

Previous

Previous

Previous

Last

Day

Week

Month

Year

2 May 11

1 May 11

25 April 11

25 March 11

-2 May 10

Last

% Chg

Last

% Chg

Last

% Chg

Last

% Chg

Last

30 Yr FRM avg

3.625%

-0.5%

3.75%

0.0%

3.75%

2.1%

3.75%

6.7%

4%

15 Yr FRM avg

2.625%

-0.3%

2.75%

0.0%

2.625%

2.9%

2.625%

8.4%

3.25%

3/1 ARM avg

2.5%

-1.5%

2.875%

0.0%

2.625%

0%

2.875%

2.9%

3.125%

Index

COFI-11th District

3.347%

1.5%

3.296%

0.0%

3.296%

3.3%

3.190%

46.1%

2.183%

Federal Funds

.50%

0.0%

4.50%

0.0%

4.50%

0.0%

4.50%

63.6%

2.75%

WSJ Prime Rate

4.50%

0.0%

7.50%

0.0%

7.50%

0.0%

7.50%

30.4%

5.75%

1 Year CMT

3.25%

-0.4%

3.375%

-0.8%

3.425%

2.1%

3.425%

1.5%

3.32%

30 Year Treasury

2.70%

-0.6%

4.73%

-0.8%

4.77%

4.8%

4.55%

-5.4%

4.81%

USD 12M LIBOR

5.144%

0.3%

5.127%

-1.9%

5.226%

2.5%

5.100%

37.4%

3.713%

Meanwhile, foreign investment groups have taken advantage of a U.S. financial sector in need, and they have bought significant stakes in a number of our financial institutions. Merrill Lynch was the most recent, receiving $5 billion from Temasek Holdings in Singapore. Earlier in the week, Morgan Stanley announced that it had sold a $5 billion stake in its company to China Investment Corp. And, just a couple of weeks ago, UBS AG said it was going to receive $9.75 billion from Singapore and an additional $1.77 billion from an investment group in the Middle East. This trend could very well continue if banks have to take additional losses due to mortgage defaults, although the Fed's bailout plan might limit the need for companies to go international.

The real question that still remains is will these cash infusions be enough to solve the credit crisis, or are lower rates the only reasonable resolution

Mortgage Rates Are Lowered Again!

As we move into 2013, mortgage interest rates are continuing to decrease. They are now at the lowest point in more than two years, thus opening a bit wider the door of opportunity for home buyers.

The average rate for a 30-year fixed-rate mortgage is now down to 3.625 percent, with 0.5 points (fees), according to Freddie Mac, a major government sponsored buyer of existing mortgages. It has not been this low since early-December, 2010. Last year at this time the rate was 3.74 percent. FHA rates remain low at 3.75% for thirty year terms.

The 15-year, fixed-rate mortgage has an average rate of 2.625 percent, with 0.5 points. A year ago this rate was 3.5 percent. It's now at the lowest rate since January of last year. This is a popular option for many homeowners who are now refinancing their mortgage. The 5-year hybrid adjustable-rate mortgage (ARM) is still popular. Its rate now averages 2.625 percent. A year ago it was 3.625%.

"Mortgage interest rates for U.S. Treasury securities are drifting lower over market concerns that the housing slump and stress in credit markets could slow future economic growth. As a result, interest rates are slipping lower," said Frank Nothaft, Freddie Mac's chief economist. With Federal Reserve chairman Ben Bernanke hinting that yet another rate cut may be needed to bolster the economy, prospects look good for continuing declines in mortgage rates.

Save Hundreds of Dollars Each Month - Mortgage Rates are Low

You can get approved for a home loan even if you have less than perfect credit. Whether you have perfect credit or bad credit looking to rebuild your credit... even a Bankruptcy or Foreclosure, we have a mortgage lender ready to work with you!

Rates are the lowest they've been in over 40 years, so get FREE Mortgage Rate Quote and start saving $$

Our Mortgage loan programs can help you get you the cash you need for:

  • Debt Consolidation for Fixed Rates
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  • Funds for Home Improvement or Rehab

Home Equity Line Special!! Rates starting at 4%

Our mortgage rate services are offered at no cost with no application fees and no obligations.

* The current mortgage rate at 3.875% is fixed. Example assumes a $300,000 mortgage amount with a fixed interest rate of 3.875% for five years and Annual Percentage Rate (APR) of 3.877%. Terms of the home loan are based on a 5/1 mortgage (fixed for first 60 payments then loan becomes an adjustable rate mortgage for the remaining 300 months of the term. At this time most lenders will require at least a 700 credit score with 20% equity (80% loan to value) and the property must be a single-family home used as the primary residence of the borrower. The current mortgage rates and terms offered can vary depending on your credit scores, loan to value, debt to income ratio and other lending qualifications.

** In most state home loans less than $425,000 will meet the conforming guidelines and be eligible for the lowest mortgage interest rates possible. Some areas around the country are considered high cost regions and may be eligible for the lowest conforming rates under the conventional, VA and FHA loan programs. FHA may have unique stipulations to qualify for the best FHA rates. Check with an approved FHA lender for today's FHA rates.

***For loan amounts greater than $729,750, applicants must consider jumbo mortgage rates. In most cases, 2 separate URAR appraisals will be required. Ask for details. Jumbo loans are not available to all borrowers with all types of loan programs. Other restrictions apply.


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