LendingTree Weekly Mortgage Rate Pulse Reports Slightly Rising Rates
CHARLOTTE, NC (December 1, 2010) – Average mortgage rates rose this week, according to the LendingTree Weekly Mortgage Rate Pulse, a snapshot of the lowest and average mortgage rates available within the LendingTree network of lenders.
On November 30, average home loan rates offered by LendingTree network lenders slightly rose week-over-week to 4.64 percent (4.87% APR) for 30-year fixed mortgages, 4.01 percent (4.38% APR) for 15-year fixed mortgages and 3.45 percent (3.74% APR) for 5/1 adjustable rate mortgages (ARM).
On the same day, the lowest mortgage rates offered by lenders on the LendingTree network were 4.125 percent (4.32% APR) for a 30-year fixed mortgage, 3.50 percent (3.74% APR) for a 15-year fixed mortgage and 2.75 percent (3.12% APR) for a 5/1 ARM. Lowest rates fell one eighth of a percent for 30-year fixed mortgages and rose slightly for 15-year fixed loans and 5/1 ARMs.
“Rates are riding a bit of a roller coaster and borrowers are uncertain about how and when to make their next move,” said Nicole Hall, LendingTree home loan expert. “Though the market is volatile, rates continue to remain at historically low levels and prove to be a great deal for consumers. It’s important to make sure you are working with a loan officer with whom you feel comfortable and, regardless of the rate environment, be sure to do your homework and shop around to ensure you’re receiving the best deal.”
LendingTree helps borrowers find the best rate and terms by delivering multiple loan offers from up to four lenders. Customers can compare competing loan options side-by-side and make a sound, educated decision on which lender to move forward with based on each lender’s ratings and reviews. LendingTree Ratings and Reviews is a comprehensive, user-generated library of detailed ratings and reviews for every lender on the LendingTree network. This directory provides consumers with first-hand insight into the quality and service of network lenders.
Below is a state-by-state comparison of mortgage data including a snapshot of the lowest 30-year fixed rates offered by lenders on the LendingTree network, average loan-to-value ratio and percentage of consumers with negative equity.
STATE-BY-STATE MORTGAGE DATA 11/30/10 *Updated Quarterly | |||
STATE | LOWEST MORTGAGE RATE | LOAN-TO-VALUE RATIO* | % WITH NEGATIVE EQUITY* |
Alabama | 4.25 % (4.38% APR) | 67% | 9.8% |
Alaska | 4.25% (4.44% APR) | 67% | 10.6% |
Arizona | 4.25% (4.39% APR) | 94% | 50% |
Arkansas | 4.25% (4.37% APR) | 74% | 12% |
California | 4.25% (4.39% APR) | 70% | 32.8% |
Colorado | 4.25% (4.39% APR) | 72% | 19.7% |
Connecticut | 4.13% (4.23% APR) | 58% | 12% |
Delaware | 4.13% (4.23% APR) | 68% | 13.5% |
District of Columbia | 4.25% (4.48% APR) | 59% | 15.5% |
Florida | 4.00% (4.09% APR) | 90% | 46.4% |
Georgia | 4.13% (4.32% APR) | 80% | 28.1% |
Hawaii | 4.25% (4.44% APR) | 55% | 10.7% |
Idaho | 4.25% (4.39% APR) | 73% | 23.7% |
Illinois | |||