Mortgage Rates Down Sharply As Concerns Over European Debt Rise Among Global Investors
Response among investors to the looming European debt crisis has meant more money put into US Treasury bonds causing interest rates on long term lending tied to these bonds, including mortgage rates, to fall. Freddie Mac, a government sponsored enterprise which purchases mortgage loans on the secondary market, reported in their most recent mortgage pricing survey out Thursday, November 3rd, 2011, that rates for a 30 year fixed rate mortgage averaged 4.00% (0.7 points) that week.
For a borrower with an excellent credit portfolio and no additional high risk factors in his or her loan scenario, rates even lower than this average may be available from the most competitive mortgage lenders. FHA mortgage rates can also be slightly lower than that of conventional financing for those who qualify.
Here is a sampling of current Charlotte mortgage rates advertised on mortgage rate research website, ForTheBestRate.com on Monday, November 7th, 2011. (Rates are subject to change. Please visit the site to view the criteria used in the survey.)
30 Year Fixed Rate Mortgage (0 Points)
AES Lending Direct – 3.750% Note Rate, 3.754% APR, $100 Fees in APR
Gateway Bank Mortgage – 4.000% Note Rate, 4.036% Note Rate, 4.036% APR, $875 Fees in APR
15 Year Fixed Rate Mortgage (0 Points)
AmeriSave – 3.250% Note Rate, 3.395% APR, $1995 Fees in APR
New American Mortgage – 3.375% Note Rate, 3.477% APR, $1395 Fees in APR
FHA Loans:
30 Year FHA (0 Points)
National Mortgage Alliance – 3.750% Note Rate, 3.750% APR, $0 Fees in APR
AES Lending Direct – 3.750% Note Rate, 3.754% APR, $100 Fees in APR
15 Year FHA (0 Points)
New American Mortgage – 3.250% Note Rate, 3.351% APR, $1355 Fees in APR
National Mortgage Alliance – 3.250% Note Rate, 3.250% APR, $0 Fees in APR
About Donna Johnston
Donna Johnston has been a full-time REALTOR® in the metropolitan Charlotte area since 1999. Her primary focus is helping her clients find attractive real estate opportunities throughout the communities of Charlotte including SouthPark, Ballantyne, Myers Park, Dilworth, Downtown, Uptown, Lake Wylie and Weddington.
Backed by RE/MAX Executive Realty, Donna is one of six top producing agents who comprise Charlotte Premier Realty Partners, a group of seasoned real estate professionals who posses vast knowledge of the Greater Charlotte home market.
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[...] Response among investors to the looming European debt crisis has meant more money put into US Treasury bonds causing interest rates on long term lending tied to these bonds, including mortgage rates, to fall. Freddie Mac, a government sponsored enterprise which purchases mortgage loans on the secondary market, reported in their most recent mortgage pricing survey out Thursday, November 3rd, 2011, that rates for a 30 year fixed rate mortgage averaged 4.00% (0.7 points) that week.Source: talkcharlotterealestate.com [...]
[...] [...] Response among investors to the looming European debt crisis has meant more money put into US Treasury bonds causing interest rates on long term lending tied to these bonds, including mortgage rates, to fall. Freddie Mac, a government sponsored enterprise which purchases mortgage loans on the secondary market, reported in their most recent mortgage pricing survey out Thursday, November 3rd, 2011, that rates for a 30 year fixed rate mortgage averaged 4.00% (0.7 points) that week.Source: talkcharlotterealestate.com [...]Source: talkcharlotterealestate.com [...]