LendingTree Weekly Mortgage Rate Pulse Reveals Slightly Falling Rates
CHARLOTTE, NC (December 29, 2010) – Average mortgage rates fell slightly week-over-week, according to the LendingTree Weekly Mortgage Rate Pulse, a snapshot of the lowest and average home loan rates available within the LendingTree network of lenders.
On December 28, average home loan rates offered by LendingTree network lenders were 5.16 percent (5.40% APR) for 30-year fixed mortgages, 4.46 percent (4.83% APR) for 15-year fixed mortgages and 4.07 percent (4.13% APR) for 5/1 adjustable rate mortgages (ARM). Rates for 30- and 15-year fixed mortgages fell slightly week-over-week, while 5/1 ARM rates rose.
On the same day, the lowest mortgage rates offered by lenders on the LendingTree network were 4.625 percent (4.82% APR) for a 30-year fixed mortgage 3.875 percent (4.12% APR) for a 15-year fixed mortgage and 3.125 percent (3.25% APR) for a 5/1 ARM.
“With the New Year approaching, it’s a great time for consumers to tidy up their home finances,” said Nicole Hall, LendingTree home loan shopping expert. “Homeowners can find a great deal of savings by dusting off their mortgage documents and insurance policies and evaluating whether they’re still getting the best deal. Refinancing and lowering your insurance premiums can leave consumers with more money to tackle other New Year’s resolutions, like increasing their 401k contribution.”
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 12/28/10 *Updated Quarterly | |||
STATE | LOWEST MORTGAGE RATE | LOAN-TO-VALUE RATIO* | % WITH NEGATIVE EQUITY* |
Alabama | 4.63% (4.82% APR) | 67% | 9.8% |
Alaska | 4.63% (4.82% APR) | 67% | 10.6% |
Arizona | 4.63% (4.82% APR) | 94% | 50% |
Arkansas | 4.63% (4.82% APR) | 74% | 12% |
California | 4.63% (4.82% APR) | 70% | 32.8% |
Colorado | 4.63% (4.82% APR) | 72% | 19.7% |
Connecticut | 4.63% (4.82% APR) | 58% | 12% |
Delaware | 4.63% (4.82% APR) | 68% | 13.5% |
District of Columbia | 4.63% (4.82% APR) | 59% | 15.5% |
Florida | 4.63% (4.77% APR) | 90% | 46.4% |
Georgia | 4.63% (4.77% APR) | 80% | 28.1% |
Hawaii | 4.75% (4.88% APR) | 55% | 10.7% |
Idaho | 4.63% (4.82% APR) | 73% | 23.7% |
Illinois | 4.75% (4.88% APR) | 71% | |