SOURCE: Mortgagebot

Mortgagebot

June 21, 2011 14:30 ET

Mortgage Marvel Rate Trends Shows 30-Year Fixed Rates Remain Near 6-Month Low

MEQUON, WI--(Marketwire - Jun 21, 2011) - Mortgage Marvel Rate Trends™, a daily survey of over 950 lenders, shows that 30-year, fixed rates remain near their six-month low -- increasing just 0.01% to 4.67% this week from 4.66% last week.

30-Year Fixed Rate -- Weekly Change

Current Rate7 Days AgoChange
4.67%4.66%0.01%

This week's rate is just 0.03% higher than the 6-month low of 4.64% achieved on June 9, 2011 and is significantly lower (0.55%) than the 6-month high of 5.22% achieved on February 10, 2011.

30-Year Fixed Rate -- Highs & Lows

PeriodHighLow
RateChange*Date RateChange*Date
30 Days4.79%-0.12%05/24/2011 4.64%+0.03%06/09/2011
3 Months5.08%-0.41%04/10/2011 4.64%+0.03%06/09/2011
6 Months5.22%-0.55%02/10/2011 4.64%+0.03%06/09/2011
*Change based on difference from current rate

Other popular products
The 15-year fixed rate mortgage experienced a slight increase of 0.05%, rising to 3.89% this week from last week's 3.84%. 5/1 ARM rates also increased slightly to 3.67% from 3.66% last week. The rates for 30-year, fixed rate jumbo loans (typically loans over $417,000) decreased 0.06% to 5.49%.

For comparison sake, displayed rates feature 0 discount points unless otherwise indicated. The assumed loan amount and loan-to-value ratio are $500,000 and 66% for jumbo loans and $187,500 and 75% for all other programs.

For more detailed information, including an interactive graph and state-level detail, go to http://www.mortgagemarvel.com/mortgageratetrends/.

For specific rates and closing costs in your area, go to http://www.mortgagemarvel.com/Pages/AdvancedSearch.aspx.

About Mortgage Marvel Rate Trends
Mortgage Marvel Rate Trends pulls rates every day directly from the live product and pricing database of 950 national, regional, and local banks and credit unions across the country. Mortgage Marvel Rate Trends includes average rates for conforming (i.e. loans below $417,000) and jumbo loan programs across all common fixed and adjustable rate products. Mortgage Marvel Rate Trends also separately tracks rates for purchase, rate & term refinance, and cash-out refinance transactions for every product and program, and for every state and region in the U.S.

About Mortgage Marvel and Mortgagebot
Mortgage Marvel (www.MortgageMarvel.com) presents free, accurate, up-to-date mortgage quotes from multiple lenders in an easy-to-understand display. It further enables borrowers to link directly to their preferred lender -- where they can complete a mortgage application and get approved with full disclosures, all in about 20 minutes or less.

Mortgage Marvel is operated by Mortgagebot LLC (www.Mortgagebot.com), the industry leading, Inc. 5000 company that provides the unique, award-winning PowerSite family of integrated point-of-sale (IPOS) solutions. Mortgagebot blends deep mortgage experience with innovative "cloud-computing" technology to create scalable and affordable Web sites for nearly 1,000 banks and credit unions nationwide.

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