Mortgage Rate Update – Lowest Since Dec 2010

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If you have been holding off on refinancing your residence, now may be the time to pull the trigger. According to Freddie Mac’s mortgage rate survey from last week, mortgage rates hit their lowest mark since December 9, 2010. 30 year fixed rates fell to an average of 4.71% (.7 pts) which was down 0.07% from the previous week and down from the 5.00% average from the same period in 2010. 15 year fixed rates also dropped going from 3.97% to 3.89% (.7pts).

Adjustable rate mortgage rates also moved lower with 5 year ARM rates falling .08% to 3.47% (.6 pts). Freddie Mac also reported 1 yr ARM rates remained fairly flat improving 0.01% to an average of 3.14% (.5 pts).

On today, Seckel Capital was offering a 30 year fixed APR in Dallas, TX of 4.501% (4.500% note rate) on a 30 year fixed rate mortgage with only $12 in fees included in the APR calculation. The same company was also posting the lowest APR on 15 year fixed rates in the Dallas market at 3.751% APR.

It’s important to note that all of the numbers used in Freddie Mac’s survey and on are for single family primary residences (as they are on most publishers’ sites such as,, CompareInterestRates,, etc). Investment property mortgage rates will likely be .25% to .75% higher (at least) after lenders’ adjustments. Even after the adjustments, rates this low are worth exploring.


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