Average mortgage rates fell this 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 July 12, average home loan rates offered by LendingTree network lenders were 4.77% (4.94% APR) for 30-year fixed mortgages, 4.03% (4.28% APR) for 15-year fixed mortgages and 3.51% (3.64% APR) for 5/1 adjustable rate mortgages (ARM). Rates for 30 year fixed loans and 5/1 ARMS fell week-over-week while 15 year fixed mortgage rates rose slightly.
On the same day, the lowest mortgage rates offered by lenders on the LendingTree network were 4.25 percent (4.39% APR) for a 30-year fixed mortgage, 3.375 percent (3.61% APR) for a 15-year fixed mortgage and 2.75 percent (3.04% APR) for a 5/1 ARM.
“Mortgage rates have been yo-yoing for several months now,” said Mona Marimow, Senior Vice President of LendingTree.com. “While still hovering near historic lows, the amount rates vary from lender to lender is the highest we’ve seen since late 2010. This variance spells opportunity for consumers on the market for a home loan, provided they shop around and compare rates and offers from a variety of lenders. Banks and lenders move at different speeds to readjust their pricing after market dips and this can translate to considerable savings for savvy borrowers.”
Thinking about a refinance or obtaining a new home loan? Learn more about your options at the LendingTree Smart Borrower Center. Or simply fill out this refinance form or new home loan form and we’ll match you with up to four lenders so you can compare loan offers.
LendingTree is the nation's leading online loan marketplace providing consumers an easy way to shop and compare funding for life's matters. With LendingTree's marketplace, you can connect with multiple lenders that compete for your business. You can also find an array of credit based tools and tips on LendingTree, including free monthly credit scores to help you stay empowered financially.
- Your Mortgage GPS: Step-by-Step Directions for Getting a Mortgage 8,169 views
- 15 Things to Know About Your New EMV Credit Card Chip 6,724 views
- Should You Give Out Your Social Security Number to Get a Mortgage Quote? 5,472 views
- The Ultimate Credit Score Survival Guide: 45 Rules to Help Increase Your Credit Score 4,500 views
- 5 Things You Should Never Put on a Credit Card 3,991 views
- How Do You Compare Personal Loans and Get the Best Deal? 3,407 views
- Avoiding the 5 Most Common Mishaps People Encounter When Buying a Home 2,982 views