Mortgage Rate Trends

Saturday, December 18, 2010

GoLocalProv Business Team

Average mortgage rates rose week-over-week across the country, according to the LendingTree Weekly Mortgage Rate Pulse, a snapshot of the lowest and average mortgage rates available within the LendingTree network of lenders.

According the Lending Tree Weekly Mortgage Rate Pulse, on December 14, average home loan rates offered by LendingTree network lenders rose week-over-week to 5.05 percent (5.3% APR) for 30-year fixed mortgages, up 0.22 percent from last week. Rates also climbed to 4.38 percent (4.77% APR) for 15-year fixed mortgages and 3.93 percent (4.09% APR) for 5/1 adjustable rate mortgages (ARM).

In Rhode Island:

Lowest Mortgage Rate: 4.63% (4.82% APR)

Loan to Value Ratio: 62%

Percent (%) with Negative Equity: 20.3