Mortgage Rates Rise According to LendingTree Weekly Mortgage Rate Pulse
Spread between 10-year Treasuries and 30-year mortgage rates indicates rising rates to come
CHARLOTTE, N.C., April 13, 2011 /PRNewswire/ -- Average mortgage rates rose week-over-week according to the LendingTree Weekly Mortgage Rate Pulse, which tracks the lowest and average mortgage rates offered by lenders on the LendingTree network.
On April 12, average home loan rates offered by LendingTree network lenders were 5.11% (5.31% APR) for 30-year fixed mortgages, 4.28% (4.59% APR) for 15-year fixed mortgages and 3.76% (3.88% APR) for 5/1 adjustable rate mortgages (ARM). Rates for all loan types rose week over week.
On the same day, the lowest mortgage rates offered by lenders on the LendingTree network were 4.75 percent (4.89% APR) for a 30-year fixed mortgage, 3.88 percent (4.12 % APR) for a 15-year fixed mortgage and 3.125 percent (3.25% APR) for a 5/1 ARM.
"A number of factors, including demand for US debt, are putting continued pressure on rates to fall," said Cameron Findlay, LendingTree Chief Economist. "But mortgage rates have reached the bottom rung. Rates today are surprisingly low – just 16 percent higher than their all-time low despite a 50 percent rise in 10-year Treasuries during the same time frame. This shows us that the spread compression benefit is over, and rates will have a higher propensity to rise in the event of debt market sell offs."
The following housing market data shows a snapshot of the lowest 30-year mortgage rates offered by lenders on the LendingTree network, as well as updated average loan-to-value ratios and negative equity by state.
STATE-BY-STATE MORTGAGE DATA 4/12/11 *Updated Quarterly |
||||
STATE |
LOWEST MORTGAGE RATE |
LOAN-TO-VALUE RATIO* |
% WITH NEGATIVE EQUITY* |
|
US Average |
4.75% (4.89% APR) |
70.2% |
35.0% |
|
Alabama |
4.75% (4.95% APR) |
67.0% |
28.9% |
|
Alaska |
4.75% (4.95% APR) |
66.3% |
17.3% |
|
Arizona |
4.75% (4.89% APR) |
94.6% |
39.4% |
|
Arkansas |
4.75% (4.87% APR) |
72.6% |
43.9% |
|
California |
4.75% (4.89% APR) |
70.6% |
34.8% |
|
Colorado |
4.75% (4.89% APR) |
71.9% |
22.2% |
|
Connecticut |
4.75% (4.88% APR) |
59.5% |
43.3% |
|
Delaware |
4.75% (4.84% APR) |
67.6% |
50.3% |
|
District of Columbia |
4.75% (4.99% APR) |
58.3% |
25.5% |
|
Florida |
4.63% (4.72% APR) |
90.8% |
41.1% |
|
Georgia |
4.75% (4.90% APR) |
80.9% |
25.8% |
|
Hawaii |
4.88% (5.00% APR) |
54.2% |
25.4% |
|
Idaho |
4.75% (4.89% APR) |
73.4% |
29.8% |
|
Illinois |
4.75% (4.95% APR) |
72.4% |
31.7% |
|
Indiana |
4.63% (4.81% APR) |
69.4% |
28.5% |
|
Iowa |
4.75% (4.95% APR) |
66.7% |
42.9% |
|
Kansas |
4.75% (4.95% APR) |
70.5% |
31.8% |
|
Kentucky |
4.75% (4.90% APR) |
67.6% |
53.1% |
|
Louisiana |
4.75% (4.95% APR) |
78.5% |
75.5% |
|
Maine |
4.75% (4.95% APR) |
58.6% |
30.1% |
|
Maryland |
4.75% (4.88% APR) |
70.4% |
25.6% |
|
Massachusetts |
4.75% (4.87% APR) |
60.7% |
46.0% |
|
Michigan |
4.75% (4.88% APR) |
84.3% |
32.2% |
|
Minnesota |
4.75% (4.88% APR) |
65.6% |
22.2% |
|
Mississippi |
4.75% (4.95% APR) |
78.4% |
30.1% |
|
Missouri |
4.75% (4.89% APR) |
71.6% |
31.0% |
|
Montana |
4.75% (4.95% APR) |
60.2% |
33.4% |
|
Nebraska |
4.75% (4.95% APR) |
72.3% |
46.5% |
|
Nevada |
4.75% (4.95% APR) |
118.0% |
55.3% |
|
New Hampshire |
4.75% (4.87% APR) |
69.8% |
25.2% |
|
New Jersey |
4.75% (4.88% APR) |
62.2% |
29.0% |
|
New Mexico |
4.75% (4.89% APR) |
66.4% |
45.8% |
|
New York |
4.75% (4.86% APR) |
50.1% |
42.1% |
|
North Carolina |
4.75% (4.89% APR) |
71.2% |
33.2% |
|
North Dakota |
4.75% (4.95% APR) |
60.1% |
37.7% |
|
Ohio |
4.75% (4.87% APR) |
75.4% |
27.0% |
|
Oklahoma |
4.75% (4.87% APR) |
71.0% |
52.4% |
|
Oregon |
4.75% (4.92% APR) |
69.6% |
19.6% |
|
Pennsylvania |
4.63% (4.72% APR) |
62.5% |
75.7% |
|
Rhode Island |
4.75% (4.95% APR) |
62.6% |
36.6% |
|
South Carolina |
4.75% (4.88% APR) |
71.0% |
29.0% |
|
South Dakota |
4.75% (4.87% APR) |
N/A |
N/A |
|
Tennessee |
4.75% (4.90% APR) |
71.2% |
30.7% |
|
Texas |
4.75% (4.95% APR) |
68.8% |
30.6% |
|
Utah |
4.75% (5.00% APR) |
73.7% |
22.2% |
|
Vermont |
4.75% (4.95% APR) |
N/A |
N/A |
|
Virginia |
4.75% (4.89% APR) |
71.7% |
25.0% |
|
Washington |
4.75% (4.89% APR) |
67.9% |
21.4% |
|
West Virginia |
4.75% (4.95% APR) |
67.0% |
68.0% |
|
Wisconsin |
4.75% (4.95% APR) |
68.3% |
35.6% |
|
Wyoming |
4.75% (4.95% APR) |
64.2% |
23.0% |
|
For more state-level housing market data, please contact Nicole Hall. Or, to compare mortgage rates please visit http://www.lendingtree.com/mortgage-loans/rates/.
The LendingTree Weekly Mortgage Rate Pulse is 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.
MEDIA CONTACT:
Nicole Hall
(704) 943-8463
SOURCE LendingTree, LLC
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article