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Mortgage Rates Inch Up From Record Lows According to BurlingtonMortgage.biz(June 18, 2012)
Wilmington, NC (PRWEB) June 18, 2012
Following six weeks of falling mortgage rates, home loan pricing on average crept up a small amount this week, reports mortgage rate research website BurlingtonMortgage.biz. Interest rates remain incredibly low, and only marginally higher than the historic low point reached one week ago. On Friday, June 15th, 2012 30 year fixed rate mortgage pricing was advertised on BurlingtonMortgage.biz as low as 3.250% (APR: 3.456%, Points: 1.875, Fees: $1345, Lender: Close Your Own Loan.com.)
15 year fixed mortgage rates as low as 2.750% (APR: 2.786%, Points: 0, Fees: $499, Lender: Seckel Capital, LLC) were posted in the rates tables, and 30 year FHA rates were advertised as low as 3.250% (APR: 3.281%, Points: 0, Fees: $775, Lender: Atlantic Mortgage and Funding, Inc.)
Mortgage pricing data released Thursday, June 14th, 2012 in the weekly survey of mortgage rates from Freddie Mac, a government sponsored enterprise and purchaser of mortgage loans on the secondary market, confirmed the uptick in interest rates. The survey showed on average 30 year fixed mortgage rates were 3.71% (0.7 points) for the week ending June 14th, 2012. This was up from a record setting 3.67% (0.7 points) the week before. 15 year fixed pricing also rose, averaging 2.98% (0.7 points), up from 2.94% (0.7 points.)
"A rise in mortgage rates this small isn't likely to make a major impact on home buying or refinancing decisions," commented Nat Criss, Managing Partner of CMG Equities, LLC, which runs BurlingtonMortgage.biz. "The difference in payment is not significant for most loan amounts, and home financing is still amazingly inexpensive for those who can qualify. Still, it's a good reminder that the downward trend we've been seeing in interest rates isn't guaranteed to last forever," he continued.
Current mortgage rates for a number of different residential mortgage programs can be viewed on BurlingtonMortgage.biz. Below is a snapshot of mortgage rates for a variety of products listed on the site on 6/15/2012. Virginia mortgage rates represented in this sample. Rates are subject to change. Please visit the site to view the criteria used in the survey.
30 Year Mortgage Rates (0 Points)
Roundpoint Mortgage Company - 3.750% Note Rate, 3.750% APR, $0 Fees
Amerisave - 3.750% Note Rate, 3.832% APR, $1995 Fees
15 Year Mortgage Rates (0 Points)
AIMLoan.com - 2.875% Note Rate, 2.876% APR, $10 Fees
QuickenLoans - 3.375% Note Rate, 3.562% APR, $2557 Fees
30 Year FHA Mortgage Rates (0 Points)
Atlantic Mortgage & Funding - 3.250% Note Rate, 3.281% APR, $775 Fees
Discover Home Loans - 3.625% Note Rate, 3.779% APR, $3750 Fees
30 Year VA Mortgage Rates (0 Points)
Atlantic Mortgage & Funding - 3.500% Note Rate, 3.500% APR, $0 Fees
Seckel Capital - 4.250% Note Rate, 4.250% APR, $0 Fees
BurlingtonMortgage.biz is a website that offers information regarding mortgages and personal finance. BurlingtonMortgage.biz is owned by CMG Equities, LLC based in Wilmington, North Carolina. For more information, visit http://www.burlingtonmortgage.biz/.
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