LendingTree Weekly Mortgage Rate Pulse Reveals Slightly Falling Rates

Market Volatility Widens Spreads and Increases Competition Among Banks

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%

19.7%

Indiana

4.63% (4.81% APR)

70%

11%

Iowa

4.63% (4.82% APR)

67%

8.8%

Kansas

4.63% (4.82% APR)

70%

10.8%

Kentucky

4.63% (4.82% APR)

67%

8.5%

Louisiana

4.63% (4.82% APR)

N/A

23%

Maine

4.63% (4.82% APR)

N/A

23%

Maryland

4.63% (4.82% APR)

69%

22.2%

Massachusetts

4.75% (4.87% APR)

60%

15%

Michigan

4.63% (4.82% APR)

86%

38%

Minnesota

4.62% (4.82% APR)

65%

16.3%

Mississippi

4.63% (4.82% APR)

N/A

23%

Missouri

4.63% (4.82% APR)

71%

15.5%

Montana

4.63% (4.82% APR)

60%

7.7%

Nebraska

4.63% (4.82% APR)

73%

9.3%

Nevada

4.63% (4.82% APR)

120%

68.1%

New Hampshire

4.63% (4.82% APR)

69%

18.4%

New Jersey

4.63% (4.82% APR)

61%

15.4%

New Mexico

4.63% (4.82% APR)

66%

12.2%

New York

4.63% (4.82% APR)

50%

7.1%

North Carolina

4.63% (4.82% APR)

70%

10.4%

North Dakota

4.63% (4.82% APR)

60%

7.4%

Ohio

4.75% (4.88% APR)

74%

19.7%

Oklahoma

4.63% (4.82% APR)

70%

5.8%

Oregon

4.63% (4.82% APR)

69%

15.7%

Pennsylvania

4.50% (4.59% APR)

62%

7.3%

Rhode Island

4.63% (4.82% APR)

62%

20.3%

South Carolina

4.63% (4.82% APR)

71%

14.3%

South Dakota

4.63% (4.82% APR)

N/A

23%

Tennessee

4.63% (4.82% APR)

71%

13.8%

Texas

4.63% (4.82% APR)

70%

11.3%

Utah

4.63% (4.82% APR)

73%

20.4%

Vermont

4.63% (4.82% APR)

N/A

23%

Virginia

4.63% (4.82% APR)

71%

22.7%

Washington

4.75% (4.89% APR)

66%

15.2%

West Virginia

4.63% (4.82% APR)

N/A

23%

Wisconsin

4.63% (4.82% APR)

67%

13.7%

Wyoming

4.63% (4.82% 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 28 million loan requests and $214 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.