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The Mortgage101 Blog


Mortgage Rates Make Largest Weekly Gain of 2014

After remaining almost stationary for the past two months, long-term mortgage interest rates jumped the most of any one week this year, according to mortgage giant Freddie Mac, a product of market speculation about the Federal Reserve’s actions. “Fixed-rate mortgage rates rose this week following the increase in 10-year Treasury yields being partially fueled by market speculation the Federal Reserve might change its interest rate guidance,” commented Freddie mac vice president and chief economist Frank Nothaft in a statement . The average rate on a 30-year fixed rate mortgage leaped to 4.23 percent, excluding points, during the week ended September 18, up from 4.12 percent the week before. Even with this week’s jump, rates are still considerably lower than one year ago when the average was 4.50 percent. Before this week, the average rate has stayed in a very tight range between 4.10 percent and 4.14 percent since the middle of July. Even though it plans to hold its target interest rate near zero for a “considerable time,” the Federal Reserve announced Wednesday that it will keep its October deadline for ending its stimulus program. It has been tapering the program by $10 billion every six weeks for most of the year so far. That message from the Fed as well as several positive signs from the greater economy encouraged investors to leave the security of bonds, pushing rates higher finally. Rates on 15-year fixed rate loans also skyrocketed in the latest week, with the average climbing to 3.37 percent, up from 3.26 percent. Compared with the previous year, rates are down from 3.54 percent. The one-year adjustable rate mortgage carried an average rate of 2.43 percent, falling from 2.45 percent the week before and down from last year’s 2.65 percent. more


What Are Typical Mortgage Down Payments?

Traditional mortgage down payments have always been 10 to 25 percent of the total purchase price of the property. more

Mortgage Rates by Product

Select the mortgage product below to view the rates in your area, or click on the graph icon to see how rates have fluctuated over a 30 day period.

30 Year Fixed 4.29% 0.00 4.37% 0.066% CA 30 Year Fixed Rate Trend
15 Year Fixed 3.42% 0.00 3.55% 0.065% CA 15 Year Fixed Rate Trend
3/1 ARM 2.94% 0.00 2.98% 0.035% CA 3/1 ARM Rate Trend
5/1 ARM 3.15% 0.00 3.19% 0.039% CA 5/1 ARM Rate Trend
7/1 ARM 3.42% 0.00 3.47% 0.050% CA 7/1 ARM Rate Trend
10/1 ARM 3.86% 0.00 3.90% 0.041% CA 10/1 ARM Rate Trend
Home Equity Loan - 10 Year 6.25% 0.00 0.00% 0.000% CA Home Equity Loan - 10 Year Rate Trend
Home Equity Line of Credit 4.54% 0.00 0.00% -0.007% CA Home Equity Line of Credit Rate Trend
Home Equity Loan - 15 Year 6.41% 0.00 0.00% -0.006% CA Home Equity Loan - 15 Year Rate Trend