Mortgage Rates Lows

September 10, 2012 by  

Mortgage Rates Lows, 30 year fixed mortgage rates fell on average this week for the second consecutive week reports, a consumer focused mortgage research website. The decrease is evident in the home loan pricing advertised by mortgage banks and lenders in the site’s rate tables. On Friday, September 7th, 2012 30 year fixed mortgage rates were posted as low as 3.125% (APR: 3.332%, Points: 2.000, Fees: $950, Lender: Mortgage Capital Associates.) 15 year fixed mortgage rates, which stayed constant on average, were advertised as low as 2.375% (APR: 2.797%, Points: 1.720, Fees: $1995, Lender: AmeriSave.)

A Thursday, September 6th, 2012 report from Freddie Mac, a government sponsored enterprise which purchases mortgage loans on the secondary market, confirmed the drop in pricing. The weekly survey of mortgage rates showed that for the week ending September 6th, 2012 30 year fixed mortgage rates were 3.55% (0.7 points) on average, down from 3.59 (0.6 points,) the average one week earlier. 15 year mortgage rates held steady at 2.86% (0.6 points) on average.

This latest drop in the cost of home financing moves mortgage rates closer to the record low set the week of July 26, 2012, when on average 30 year fixed rates were 3.49% (0.7 points.) They have been lower than current levels only one additional week on average, the week of July 19, 2012 when they reached 3.53% (0.7 points.)

“It’s remarkable that rates have fallen to this point,” said Nat Criss, CEO of “We’ve seen the number of advertisers on shrink over the past several days as mortgage lenders deal with the bottleneck of incoming applications and capacity issues increased consumer demand creates. Mortgage shoppers may want to seek out those companies who continue to advertise because they are likely equipped to handle additional business,” he continued.

Current home financing rates for a number of different residential mortgage programs can be viewed on Below is a snapshot of mortgage rates for a variety of products listed on the site on Friday, September 7th, 2012. Minneapolis, MN 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 Fixed Mortgage Rates Roundpoint Mortgage Company – 3.250% Note Rate, 3.411% APR, 2.000 Points, $0 Fees in APR EverBank – 3.375% Note Rate, 3.417% APR, 0.000 Points, $855 Fees in APR

15 Year Fixed Mortgage Rates EverBank – 2.750% Note Rate, 2.824% APR, 0.000 Points, $855 Fees in APR NFM, Inc. – 2.875% Note Rate, 2.875% APR, 0.000 Points, $0 Fees in APR

10 Year Fixed Mortgage Rates Mortgage Capital Associates – 2.625% Note Rate, 2.745% APR, 0.000 Points, $950 Fees in APR NFM, Inc. – 2.750% Note Rate, 2.750% APR, 0.000 Points, $0 Fees in APR

5 Year Adjustable Rate Mortgage Rates National Mortgage Alliance – 2.625% Note Rate, 2.908% APR, 0.000 Points, $350 Fees in APR US Bank – 3.000% Note Rate, 3.009% APR, 0.000 Points, $350 Fees in APR

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