Mortgage Rates - New Data Shows Average Mortgage Rates Increasing Slowly

The latest mortgage data released by LendingTree LLC in their most recent Weekly Mortgage Rate Pulse reported a slight increase in the average rates offered by lenders within the LendingTree network of lenders. Currently, the average rate for 30-year fixed mortgages was reported to be 4.28%, which works out to 4.49% APR, the average rate for 15-year fixed mortgages was reported to be 3.70%, which works out to 3.99% APR, and the average rates for 5/1 Adjustable Rate Mortgages (ARMs) being reported to be 3.27%, which works out to be 3.60% APR.

The report also released data pertaining to the lowest rates currently on offer from lenders within the LendingTree network of lenders, reporting that the lowest rates available for a 30-year fixed mortgage was 3.75%, which works out to be 3.88% APR, the lowest rates on offer for a 15-year fixed mortgage was 3.25%, which works out to be 3.49% APR, and the lowest rates available on 5/1 ARMs was 2.75%, which works out to be 3.18% APR.

Cameron Findlay, the Chief Economist at LendingTree.com issued the following statement regarding this latest data: “Our national home price index reflects individual state disparities starting to widen, with some states starting to recover while others show persistent negative growth. States that are poised to recover most quickly are those with low unemployment and low concentration of negative equity. These states are showing signs of resilience in prices while less well-positioned states, faced with further erosion of conditions, are seeing prices fall abruptly.”