Mortage Rates Analysis For The Week of 10-19-2012-

The 30 year rate fell from 3.39 to 3.37 this week. Last weeks rates where moving in the opposite direction.

The 15 year dropped from 2.70 to 2.66. The 5 and 1 year arms rose from 2.73 to 2.75 (5 year arm) and 2.59 to 2.60 (1 year arm). Below are rates from the weeks from Sep 27, 2012 to Oct 18, 2012

Oct 18, 2012
30-fixed 3.37 15-fixed 2.66 5 ARM 2.75 1 ARM 2.60

Oct 11, 2012
30-fixed 3.39 15-fixed 2.70 5 ARM 2.73 1 ARM 2.59

Oct 04, 2012
30-fixed 3.36 15-fixed 2.69 5 ARM 2.72 1 ARM 2.57

Sep 27, 2012
30-fixed 2.71 15-fixed 2.71 5 ARM 2.60 1 ARM 2.60

Sep 27, 2012
30-fixed 3.40 15-fixed 3.40 5 ARM 2.73 1 ARM 2.73

Apr 19, 2012
30-fixed 3.90 15-fixed 3.13 5 ARM 2.78 1 ARM 2.81

So now that we have looked at rates lets look at actual mortgage payments. We took current rates and translated them into a mortgage payment for a 200k mortgage. We also did the same thing with rates from October, 04 2012 and rates from April, 19 2012

Oct 18
30-year $883.63
15-year $1348.69
5-year ARM $816.48
1-year ARM $800.67

Oct 04
30-year $882.53
15-year $1351.54
5-year ARM $813.3
1-year ARM $797.53

Apr 19
30-year $943.33
15-year $1393.7
5-year ARM $819.66
1-year ARM $822.85

So compared to two weeks ago the payment for a 200k mortgage has rose by -0.12 percent or $-1.1 a month. And compared to 6 months ago the payment for a 200k mortgage has dropped by 6.32 percent or $59.7 a month

Article by Tom Miller

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