HSH.com Weekly Mortgage Rates Radar: Fixed Mortgage Rates Post Small Rise

20 Feb 2013 , According to

HSH.com releases its latest Weekly Mortgage Rates Radar showing a slight rise in fixed mortgage rates from the previous week. The Weekly Mortgage Rates radar reports the average rates and points offered by lenders for the two most popular types of mortgages, the conforming 30-year fixed-rate mortgage and the conforming 5/1 adjustable-rate mortgage (ARM).

Foster City, Calif. (PRWEB) February 20, 2013

Rates on the most popular types of mortgages moved in slightly different directions this week according to HSH.com's Weekly Mortgage Rates Radar. The average rate for conforming 30-year fixed-rate mortgages rose by two basis points (0.02 percent) to 3.70 percent, its highest rate since September 2012. Conforming 5/1 Hybrid ARM rates decreased by a single basis point, closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 2.70 percent.

"Mortgage rates aren't going anywhere very fast," said Keith Gumbinger, vice president of HSH.com. "A robust stock market continues to draw investor interest at the expense of bonds, so interest rates continue to be firm. Absent some poor economic news, or an end to the recent stock rally, mortgage rates are likely to hold near these levels."

Although the rise in mortgage rates from their bottoms seems considerable, it doesn't amount to much for most borrowers, notes Gumbinger.

"For a $100,000 loan, the difference between December's low and our present ‘high’ amounts to about $13 per month, hardly enough to cancel a refinance or put off a home purchase" he adds. "Borrowers shouldn't shy away from these opportunities to get a great loan, or hold off hoping for much lower rates."

Average mortgage rates and points for conforming residential mortgages for the week ending February 19, according to HSH.com:

Conforming 30-year fixed-rate mortgage

 

 

  •     Average rate: 3.70 percent
  •     Average points: 0.29

Conforming 5/1-year adjustable-rate mortgage

 

 

  •     Average rate: 2.70 percent
  •     Average points: 0.23

Average mortgage rates and points for conforming residential mortgages for the previous week ending February 12 were, according to HSH.com:

Conforming 30-year fixed-rate mortgage

 

 

  •     Average Rate: 3.68 percent
  •     Average Points: 0.25

Conforming 5/1-year adjustable-rate mortgage

 

 

  •     Average Rate: 2.71 percent
  •     Average Points: 0.20

Methodology


The Weekly Mortgage Rates Radar reports the average rates and points offered on conforming 30-year fixed-rate mortgages and conforming 5/1 ARMs. The weekly mortgage rate survey covers a large sample of mortgage lenders and is conducted over a Wednesday-to-Tuesday cycle, with data released every Wednesday. HSH.com’s survey helps consumers find the best rates on home loans in changing market conditions. Unlike mortgage rate surveys that report average rates only, the Weekly Mortgage Rates Radar’s inclusion of both average rates and average points provides a more accurate view of mortgage terms currently offered by lenders.

Every week, HSH.com conducts a survey of mortgage rate data for a wide range of consumer mortgage products including ARMs, FHA-backed and jumbo mortgages, as well as home equity loans and lines of credit from hundreds of direct lenders in the U.S. For information on additional loan products, visit HSH.com.

About HSH.com


HSH.com is a trusted source of mortgage data, trends, news and analysis. Since 1979, HSH’s market research and commentary has helped homeowners, buyers and sellers make smart financial choices and save money on mortgage and home equity products. HSH.com, of Riverdale, N.J., is owned and operated by QuinStreet, Inc. (NASDAQ: QNST), one of the largest Internet marketing and media companies in the world. QuinStreet is committed to providing consumers and businesses with the information they need to research, find and select the products, services and brands that best meet their needs. The company is a leader in ethical marketing practices. For more information, please visit QuinStreet.com.


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Press Contact:


Andrew Heilman


775-784-3842


pr(at)hsh(dot)com

Andrew Heilman
HSH.com
775.784.3842
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