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LendingTree Weekly Mortgage Rate Pulse Reports Rates Begin to Rise
Aug 31, 2011 (04:08 PM EDT)
LendingTree CEO provides 5 tips on refinancing and how to find the best deal
CHARLOTTE, N.C., Aug. 31, 2011 /PRNewswire/ -- Average mortgage rates show a slight increase, while lowest rates remained at all-time lows according to the LendingTree Weekly Mortgage Rate Pulse, which tracks the lowest and average mortgage rates offered by lenders on the LendingTree network.
On August 30, average home loan rates offered by LendingTree network lenders were 4.39% (4.66% APR) for 30-year fixed mortgages, 3.63% (4.05% APR) for 15-year fixed mortgages and 3.41% (3.69% APR) for 5/1 adjustable rate mortgages (ARM).
On the same day, the lowest mortgage rates offered by lenders on the LendingTree network were 3.75 percent (3.88% APR) for a 30-year fixed mortgage, 2.88 percent (3.11% APR) for a 15-year fixed mortgage and 2.50 percent (3.04% APR) for a 5/1 ARM.
"Although average rates are beginning to slightly increase from record-lows, qualified homeowners can still realize sizeable savings by refinancing," says Doug Lebda, Chairman and CEO of LendingTree.com, who offers 5 key tactics to find the best deal:
Below is a snapshot of the lowest mortgage rates for a 30-year fixed loan offered by lenders on the LendingTree network, as well as average loan-to-value ratios and negative equity by state.
For more information on current mortgage rates or for state specific mortgage rates, please visit http://www.lendingtree.com/mortgage-loans/rates/. LendingTree Lender Ratings and Reviews can be found here: http://www.lendingtree.com/lender-reviews/.
The LendingTree Weekly Mortgage Rate Pulse is published every Wednesday. Home loan rates above are reflective of actual rates offered to borrowers by lenders on the LendingTree network. Lowest rates shown reflect the payment of one discount point. Rates will vary based on the borrower's loan details and credit profile. Visit www.lendingtree.com to learn more.
About LendingTree, LLC
LendingTree, LLC is the nation's leading online lender exchange and personal finance resource, helping consumers take charge of all their financial decisions, from budgeting to money management to mortgages to credit cards and more. LendingTree provides a marketplace that connects consumers with multiple lenders that compete for their business, as well as an array of online tools to aid consumers in their financial decisions. Since inception, LendingTree has facilitated more than 28 million loan requests and $214 billion in closed loan transactions. LendingTree provides access to lenders offering mortgages and refinance loans, home equity loans/lines of credit, and more. LendingTree, LLC is a subsidiary of Tree.com, Inc. (NASDAQ: TREE). For more information go to www.lendingtree.com, dial 800-555-TREE , join our Facebook page and/or follow us on Twitter @LendingTree.