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15 Year Fixed Mortgage Rates Hit All Time Low Announces

  (December 18, 2011)

Wilmington, NC (PRWEB) December 18, 2011

Mortgage rate research website,, reports that mortgage rates advertised on the site are at or below the lowest point in its history. On Friday, December 16th 15 year fixed mortgage rates were displayed on the rate tables as low as 3.000% (APR: 3.061%, Points: 0, Fees: $852, Lender: Everbank.) Pricing for 30 year fixed rate mortgages also dropped, with posted rates as low as 3.750% (APR: 3.785%, Points: 0, Fees: $852, Lender: Everbank.)

The record setting pricing was confirmed in the weekly rate survey published by Freddie Mac, a government sponsored enterprise and purchaser of residential mortgages on the secondary market. The Thursday, December 15th report revealed that the average mortgage rates across the US hit a new historic low point this week for 15 year fixed and 5 year ARM mortgage pricing.

According to Freddie Mac the average 15 year fixed mortgage averaged 3.21% (0.8 points), and the average 5 year adjustable pricing was 2.86% (0.6 points,) down from 3.99% (0.8 points) and 3.27% (0.6 points) respectively the previous week. The 30 year fixed rate averages were down as well, matching the record low 3.94% (0.8 points) set in October of this year.

"We're seeing a lot of homeowners move to shorter 15 year fixed loans when refinancing, and this historic pricing will hopefully encourage more to follow suit," said Shaun Hamman, VP of Residential Lending at American Financial Resources, a National mortgage lender. "When it's affordable a switch to a 15 year home loan from a longer term can be a great wealth building move - the rate generally goes down, the interest savings are substantial, and you get to say goodbye to that mortgage debt a whole lot sooner," he continued.

Below is a snapshot of mortgage rates for a variety of products listed on on 10/21/2011. Rates are subject to change. Please visit the site to view the criteria used in the survey.

30 Year Mortgage Rates
Amerisave 3.625% Note Rate 3.870% APR 1.96 Points - $1995 Fees in APR
Gateway Bank Mortgage 3.625% Note Rate 3.795% APR 1.625 Points - $875 Fees in APR

20 Year Mortgage Rates
Quicken Loans 3.750% Note Rate 4.014% APR 1.5 Points - $1803 Fees in APR
EverBank - 3.625% Note Rate - 3.674% APR - 0 Points - $852 Fees in APR

15 Year Mortgage Rates
First Choice Bank - 2.750% Note Rate - 3.117% APR - 2 Points - #1050 Fees in APR
Gateway Bank Mortgage - 2.875% Note Rate - 3.175% APR - 1.625 Points - $875 Fees in APR

5/1 ARM Rates
First Choice Bank - 2.375% Note Rate - 2.511% APR - 1.25 Points - $1050 Fees in APR
EverBank - 2.750% Note Rate - 2.783% APR - 0 Points - $852 Fees in APR

About is a website that offers information regarding mortgages, insurance, and personal finance. is owned by CMG Equities, LLC based in Wilmington, North Carolina. For more information, visit


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