Just when we thought mortgage interest rates couldn’t get any lower, they did. It looks like the European debt crisis is having a positive effect on US mortgage rates. It’s interesting how that works.

Here are the results from last weeks Freddie Mac Survey:

• 30 Year Fixed: 3.87%
• 15 Year Fixed: 3.14%
• 5/1 ARM: 2.8%

Overall, it’s just a great time to buy Utah Real Estate. Experts are predicting that Salt Lake Real Estate will actually see some slight home appreciation this year. Low interest rates make housing very affordable, and offer a great opportunity for homeowners to really build wealth by paying their homes off. It’s a great time to lock in with a 15 year fixed mortgage.

Primary Mortgage Market Survey PMMS – Freddie Mac.

Right now you could have a $150,000 home loan with a Principal and Interest monthly payment of just $711. In many areas of Utah, that will provide you with a pretty nice home.

Here is the latest from the Freddie Mac residential mortgage survey:

30 Year interest rates averaged less than 4 percent at 3.94%. 15 year fixed rate mortgages were just 3.21%, and 5 year ARMS were just 2.93%. In simple terms this means…. Your monthly payment will be very, very low.

If you really want to build wealth, go for a 15 year mortgage. With 15 year mortgages you pay a lot less interest and pay your home off in half the time. At the current average 15 year fixed interest rates that same $150,000 mortgage loan would have a P&I interest rate of just $1,051. In more normal times, this would be the payment you would have with a 30 year loan! Same monthly payment, but for half the term.

Get yourself a great Christmas present. Save money for years to come by buying a new Home in Utah now.

5-year Treasury-indexed hybrid adjustable-rate mortgage ARM averaged 3.02 percent this week, with an average 0.6 point, unchanged from last week when it averaged 3.02 percent. A year ago, the 5-year ARM averaged 3.52 percent.

1-year Treasury-indexed ARM averaged 2.83 percent this week with an average 0.6 point, up from last week when it averaged 2.82 percent. At this time last year, the 1-year ARM averaged 3.48 percent.

Fixed mortgage rates fell to all-time record lows this week following the Federal Reserve’s announcement of its Maturity Extension Program and additional purchases of mortgage-backed securities. Interest rates for ARMs, however, were nearly unchanged as the Federal Reserve plans to sell $400 billion in short-term Treasury securities, which serve as benchmarks for many ARMs.”Meanwhile, the spring and summer home-buying season gave a boost to a number of house price indexes. The Federal Housing Finance Agency reported that its National index not seasonally adjusted rose for the fourth consecutive month in July. Similarly, the S&P/Case-Shiller 20-City composite index, which has a broader scope of properties, rose 0.9 percent between June and July with 17 of the cities experiencing positive monthly growth. Finally, CoreLogic reported that its index, excluding distressed sales, increased at a 1.7 percent monthly rate for the same month.”

via Cornerstone Real Estate ‘s Real Estate Update.

Wow. Awesome time to buy Utah Real Estate.

Mortgage giant Freddie Mac reports that mortgage rates set new record lows this week, as concerns over the European debt crisis and a weak U.S. employment report for August sent investors fleeing to the relative safety of Treasuries and mortgage-backed securities that fund most home loans.But a separate survey by the Mortgage Bankers Association showed demand for purchase loans remaining “at extremely low levels” last week, close to lows last seen in 1996.Rates on 30-year fixed-rate mortgages averaged 4.12 percent with an average 0.7 point for the week ending Sept. 8 — a new low in records dating to 1971, Freddie Mac said in releasing the results of its latest Primary Mortgage Market Survey. That’s down from 4.22 percent last week and a 2011 high of 5.05 percent in February.

Rates on 15-year fixed-rate mortgages averaged 3.33 percent with an average 0.6 point, down from 3.39 percent last week and a 2011 high of 4.29 percent seen in February. That’s a new low in records dating to 1991.

via Mortgage rates break records again | Inman News.

30-year fixed-rate mortgage FRM averaged 4.86 percent with an average 0.7 point for the week ending March 31, 2011, up from the previous week when it averaged 4.81 percent. Last year at this time, the 30-year FRM averaged 5.08 percent.

15-year FRM this week averaged 4.09 percent with an average 0.7 point, up from the previous week when it averaged 4.04 percent. A year ago at this time, the 15-year FRM averaged 4.39 percent.

5-year Treasury-indexed hybrid adjustable-rate mortgage ARM averaged 3.70 percent this week, with an average 0.7 point, up from the previous week when it averaged 3.62 percent. A year ago, the 5-year ARM averaged 4.10 percent.1-year Treasury-indexed ARM averaged 3.26 percent this week with an average 0.6 point, up from the previous week when it averaged 3.21 percent. At this time last year, the 1-year ARM averaged 4.05 percent.

via Cornerstone Real Estate ‘s Real Estate Update.

Rates on most mortgages continued their year-end surge in the final week of 2010, with 30-year fixed-rate loans climbing to their highest level since May, Freddie Mac said in releasing the results of its Primary Mortgage Market Survey.Rates on 30-year fixed-rate mortgages averaged 4.86 percent with an average 0.8 point for the week ending Dec. 30, up from 4.81 percent the week before, but still below the 5.14 percent recorded at the same point in 2009.The 15-year fixed-rate mortgage averaged 4.2 percent with an average 0.8 point, up from 4.15 percent the week before but down from 4.54 percent a year ago.Rates on 5-year Treasury-indexed hybrid adjustable-rate mortgage ARM loans averaged 3.77 percent with an average 0.7 point, up from 3.75 percent the week before but down from 4.44 percent a year ago.

via Mortgage rates climb into New Year | Inman News.

Here’s the latest from the RealtyTimes:

In Freddie Mac’s results of its Primary Mortgage Market Survey.

The 30-year fixed-rate mortgage rate dropped to tie the survey’s all-time low and the 15-year fixed-rate set another record low.

30-year fixed-rate mortgage FRM averaged 4.32 percent with an average 0.8 point for the week ending September 30, 2010, down from the previous week when it averaged 4.37 percent. Last year at this time, the 30-year FRM averaged 4.94 percent.

15-year FRM this week averaged a record low of 3.75 percent with an average 0.7 point, down from the previous week when it averaged 3.82 percent. A year ago at this time, the 15-year FRM averaged 4.36 percent. 5-year Treasury-indexed hybrid adjustable-rate mortgage ARM averaged 3.52 percent this week, with an average 0.6 point, down from the previous week when it averaged 3.54 percent. A year ago, the 5-year ARM averaged 4.42 percent.

via Cornerstone Real Estate ‘s Real Estate Update.

The downward mortgage rates won’t last forever, but the question is when will they start going up? For people like me who are unable to refinance right now, but who will be able to next year, will interest rates still be this low in 2011? No one knows for sure, but here is what the experts are predicting. Take it with a grain of salt, because we all know their past predictions haven’t exactly been accurate.

In March, the Mortgage Bankers Association projected that rates on 30-year fixed-rate mortgages would rise to 5.8 percent during the final quarter of 2010, and average 6.2 percent in 2011 and 6.4 percent in 2012.

The MBA’s most recent mortgage finance forecast, issued on Aug. 17, projects that 30-year fixed-rate loans will rise to an average of 4.8 percent during the fourth quarter of this year, and stay around 5 percent most of next year.

MBA economists don’t foresee mortgage rates ticking up at a more rapid pace until 2012, when they expect 30-year fixed-rate mortgages to climb to an average of 5.8 percent during the final three months of the year.

via Mortgage rates plumb new depths | Inman News.

So in short, now is probably the best time EVER to refinance, but it looks like Utah Real Estate interest rates will still be incredibly low for the next few years.

Rates for three of four types of mortgages tracked by Freddie Mac hit record lows this week, as mortgage-backed securities that are the ultimate source of funding for most home loans continue to look attractive to investors.

Rates on 30-year fixed-rate mortgage averaged 4.49 percent with an average 0.7 point for the week ending Aug. 5, a new low in records dating to 1971, Freddie Mac said in releasing the results of its weekly Primary Mortgage Market Survey. This week’s rate was down from 4.54 percent last week and 5.22 percent a year ago.

Rates on 15-year fixed-rate mortgages averaged 3.95 percent with an average 0.6 point, down from 4 percent last week and 4.63 percent a year ago. That’s a new low in records dating back to 1991, Freddie Mac said.

Rates on 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans averaged 3.63 percent with an average 0.6 point, down from 3.76 percent last week and 4.73 percent a year ago. That’s a new low in records dating back to 2005.

via Another record week for mortgage rates | Inman News.

U.S. mortgage rates dropped in the past week, with 30-year fixed-rate loans tumbling to their lowest level in 39 years, according to a survey released on Thursday by Freddie Mac, the second-largest U.S. mortgage finance company.

Interest rates on 15-year fixed-rate and hybrid adjustable-rate mortgages dropped to fresh lows as well. While low rates and high affordability helped the housing market gain ground over the past year, the sector has struggled since popular home buyer tax credits expired on April 30.

Interest rates on U.S. 30-year fixed-rate mortgages, the most widely used loan, averaged 4.69 percent for the week ended June 24, the lowest since Freddie Mac started the survey in April 1971. The latest rate is down from the previous week’s 4.75 percent and the year-ago level of 5.42 percent, according to the survey.

Freddie Mac said the 15-year fixed-rate mortgage averaged 4.13 percent, down from 4.20 percent last week and the lowest since Freddie Mac started tracking the mortgage type in September 1991.

via Homebuyers: Mortgage Rates Drop to Lowest Level on Record – CNBC.