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October 12th, 2011 (Modified on October 14th, 2011)

Mortgage rates rising, according to HSH.com’s new Wednesday release

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PercentMortgage rates rising,” that’s not a phrase we’re used to hearing.

According to the latest weekly mortgage rate report from HSH.com, rates on two of the most popular types of mortgages rose the week ending October 11.

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HSH.com’s “Weekly Mortgage Rate Radar” reports the average rates and points offered by lenders for the Conforming 30-year fixed-rate mortgage and the Conforming 5/1 adjustable-rate mortgage.

For the week ending October 11, rates rose on both mortgage types, snapping a 10-week streak of record-setting lows:

Conforming 30-year fixed-rate mortgage

  • Average rate: 4.18 percent
  • Average points: 0.28

Conforming 5/1-year ARM

  • Average rate: 3.08 percent
  • Average points: 0.22

Average mortgage rates and points for conforming residential mortgages for the previous week ending October 4 were, according to HSH.com:

Conforming 30-year fixed-rate mortgage

  • Average rate: 4.11 percent
  • Average points: 0.27

Conforming 5/1-year ARM

  • Average rate: 3.02 percent
  • Average points: 0.22

Methodology

The Weekly Mortgage Rate 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 Rate 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.

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One Response to “Mortgage rates rising, according to HSH.com’s new Wednesday release”

  1. Mortgage rates rising, according to HSH.com’s new Wednesday release Says: October 12th, 2011 at 3:42 pm

    [...] Mortgage rates rising, according t&#959 HSH.com’s n&#1077w Wednesday release [...]

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About the HSH Blog

HSH.com's daily blog focuses on the latest developments in the mortgage and housing markets. Our mission is to relate how changes in mortgage rates and housing policy, as well as the latest financial news, impacts consumers, homebuyers and industry insiders alike. Our 30-plus years of experience in the mortgage industry gives us an edge as we break down the latest changes in an ever-changing market.

Our bloggers:

Tim Manni

Tim Manni is the Managing Editor of HSH.com and the author of their daily blog, which concentrates on the latest developments in the mortgage and housing markets.

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