Mortgage Rate Trends

Mortgage Rate Trends by monthIf you’re thinking of buying a home o refinancing your current mortgage, you can use this chart as a point of reference.

If you’re thinking of buying a home or refinancing your current mortgage, you can use this chart as a point of reference.

The chart shows the rate trends for several different loans over the past 12 months. Note that this chart refers only to “First Mortgage”. “Second Mortgage” (also known as Home Equity Loan) rates are much higher, and are not included in this chart.


* Primary Mortgage Market Survey data source is Freddie Mac

Where to go for a Mortgage?
Remember that these rates are the national average, and may differ considerable from the rates you can get (see this table). Make sure to talk to a qualified home loan consultant about your options and the best time for you to refinance or buy.

Locking in your mortgage rate when rates are low can mean a world of difference to your monthly payment, whether it’s a fixed rate or an adjustable rate that won’t adjust for a while.

Therefore, the two most important things to do before deciding on a loan are:

  1. Fix any credit issues (if you have any) and improve your credit utilization with this simple trick!
  2. Shop around! – Your local banks (or credit unions) should have almost all mortgage loans available.

    Additionally, you can do a fair amount of comparison shopping online. Certain lender may even let you apply for a pre-approval online.

    You may be surprised just how much the rates and associated costs and fees may differ.