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

4.25% (4.39% APR)

71%

19.7%

Indiana

4.25% (4.38% APR)

70%

11%

Iowa

4.25% (4.44% APR)

67%

8.8%

Kansas

4.13% (4.32% APR)

70%

10.8%

Kentucky

4.13% (4.27% APR)

67%

8.5%

Louisiana

4.13% (4.32% APR)

N/A

23%

Maine

4.25% (4.44% APR)

N/A

23%

Maryland

4.13% (4.36% APR)

69%

22.2%

Massachusetts

4.25% (4.37% APR)

60%

15%

Michigan

4.25% (4.39% APR)

86%

38%

Minnesota

4.13% (4.23% APR)

65%

16.3%

Mississippi

4.13% (4.32% APR)

N/A

23%

Missouri

4.13% (4.32% APR)

71%

15.5%

Montana

4.25% (4.44% APR)

60%

7.7%

Nebraska

4.25% (4.44% APR)

73%

9.3%

Nevada

4.25% (4.44% APR)

120%

68.1%

New Hampshire

4.13% (4.32% APR)

69%

18.4%

New Jersey

4.13% (4.23% APR)

61%

15.4%

New Mexico

4.13% (4.32% APR)

66%

12.2%

New York

4.13% (4.23% APR)

50%

7.1%

North Carolina

4.13% (4.32% APR)

70%

10.4%

North Dakota

4.25% (4.44% APR)

60%

7.4%

Ohio

4.25% (4.37% APR)

74%

19.7%

Oklahoma

4.25% (4.37% APR)

70%

5.8%

Oregon

4.25% (4.41% APR)

69%

15.7%

Pennsylvania

4.13% (4.23% APR)

62%

7.3%

Rhode Island

4.25% (4.44% APR)

62%

20.3%

South Carolina

4.25% (4.39% APR)

71%

14.3%

South Dakota

4.25% (4.37% APR)

N/A

23%

Tennessee

4.13% (4.32% APR)

71%

13.8%

Texas

4.13% (4.32% APR)

70%

11.3%

Utah

4.25% (4.49% APR)

73%

20.4%

Vermont

4.13% (4.32% APR)

N/A

23%

Virginia

4.13% (4.36% APR)

71%

22.7%

Washington

4.25% (4.39% APR)

66%

15.2%

West Virginia

4.25% (4.44% APR)

N/A

23%

Wisconsin

4.25% (4.44% APR)

67%

13.7%

Wyoming

4.25% (4.36% APR)

N/A

23%

 

 

Additional refinance mortgage rates are available at http://www.lendingtree.com/mortgage-loans/rates/.

The LendingTree Weekly Mortgage Rate Pulse will be published every Wednesday. Home loan rates above are reflective of actual rates offered to borrowers by lenders on the LendingTree network. Lowest rates shown reflect the payment of one discount point. Rates will vary based on the borrower’s loan details and credit profile. Visit www.lendingtree.com to learn more.

 

About LendingTree, LLC
LendingTree, LLC is the nation’s leading online lender exchange and personal finance resource, helping consumers take charge of all their financial decisions, from budgeting to money management to mortgages to credit cards and more. LendingTree provides a marketplace that connects consumers with multiple lenders that compete for their business, as well as an array of online tools to aid consumers in their financial decisions. Since inception, LendingTree has facilitated more than 27 million loan requests and $207 billion in closed loan transactions.
LendingTree provides access to lenders offering mortgages and refinance loans, home equity loans/lines of credit, and more. LendingTree, LLC is a subsidiary of Tree.com, Inc. (NASDAQ: TREE). For more information go to www.lendingtree.com, dial 800-555-TREE , join our Facebook page and/or follow us on Twitter @LendingTree.