No doubt, 30 year mortgage is the most popular type of home loans among people as it offers a fixed interest rate and monthly payments are lower. But due to the long term mortgage borrowers is required to pay off more interest over the loan life. These mortgages are the best options to purchase home through loans.

A fluctuation in the rates on the 30-year mortgages has been recorded as in comparison with the last year these rates are lower this year. Last year the average rates were about 5.16% where as the average rate this year is nearly 5%.

According to Freddie Mac fixed rate mortgages have faced a drastic downfall from the 4.04% to 4.34%. Likewise, this downfall was also recorded on five year adjustable rate mortgages from 4.27% to 4.19% before a week. While the rise in one year ARMs have been recorded from 4.22% to 4.33%.

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In this article we have given you the 30 Year FRM and 1 Year ARM rates. The graph above shows long term trends of 30 Year FRM and 1 Year ARM. It shows the mortgage rates trends from 1984-2009.

Following the graph which starts from June 1984 as you can see that 30 Year FRM was in between 13.50-5.00% whereas 1 Year ARM was in between 10.50-12.00% then we see a little rise in the rates in the same year, the 30 Year FRM and 1 Year ARM increases up to 15% and 12% respectively.

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In this article we have given you the 30 Year FRM, 15 Year FRM and 1 Year ARM: Initial Interest rate. The graph above shows long term trends of 30 Year FRM, 15 Year FRM and 1 Year ARM: Initial Interest rate. It shows the mortgage rates trends from 1992-2009.

Following the graph which starts from June 1992 as you can see that 30 year FRM was at 8.50% while the 15 Year FRM was in between 7.75% – 8.50% and 1 Year ARM: Initial Interest rate was in between 5.50% – 6.25%. After June 1992 we can see a decline in all rates and in December 1992 the rates again goes up after that there was a continuous decline in the rates till the December of 1993 after December 1993 the rates continues to rise till December 1994 but during the month of June in 1994 the rates were quite stable.

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In this article we have given the three years trends of 30 year FRM, 15 Year FRM, 1 Year ARM: Initial Interest rates and 1 year ARM: Fully Indexed Rate.

Following the above graph which starts from 23rd June 2006 as you can see that 30 year ARM was at 6.60% while that of 15 Year FRM ,1 Year ARM: Initial Interest rates and 1 year ARM: Fully Indexed Rate were at 6.30%, 5.60% and 7.90% respectively. After that we can see a small rise and then the rates starts declining up to 6th October 2006.

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In this article we have given the one year trends of 30 year FRM, 5/1 ARM: Initial interest rates, 15 Year FRM and 1 Year ARM: Initial Interest rates and 1 year & 5/1 ARMs: Fully Indexed Rate.

Following the above graph which starts from 13th June 2008 as you can see that 30 Year FRM was at 6.25%, while that of 15 year FRM, 5/1 ARM: Initial interest rates , 1 year and 5/1 ARMs: Fully Indexed Rate and 1 Year ARM: Initial Interest rates were at 5.75%,5.65%,5.05% & 5.05% respectively.

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In this article we have given the three months trends of 30 year FRM, 5/1 ARM, 15 Year FRM and 1 Year ARM.

Following the above graph which starts from 20th February as you can see that 30 year ARM was at 5.04%, same rates were possessed by 5/1 ARM while 1 Year ARM was at  4.80%. After that the rates of 30 year FRM, 5/1 ARM, 15 Year FRM and 1 Year ARM continues to rise till 6th March and after we have seen a decline in the rates of all of them.

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In May 2009, Interest rates were at their lowest. 4.75% was indeed a historic low.  If we look at national averages for June 2009, the interest rates are swinging around 5.75%.

Mortgage Trends for July 2009

If we look at trends, Interest rates for fixed mortgages are climbing up all over United States. This pressure on mortgage rates is mainly external.  As some news reports suggest, The major players in US Debt market , are still not satisfied with the economical and fiscal measures taken by US Govt.  This adds pressure on interest rates and liquidity situation in housing market is still very bleak.

It’s  Still A Good Time To Get Mortgage Refinance

Those borrowers who have decided to refinance, as well as those who are passing through the process of refinancing, should take the decision keeping in view the current market conditions and interest rates, the current conditions of housing market are indicating that the borrowers should not refinance at this stage. So what should they do? Should they quit and try again later?

I don’t think so that the only solution is to quit. Here are a few things that you should take into consideration before giving up on a mortgage refinance.

We might say that the rates are higher than they were, But they have not reached their peak,they’re still relatively low.

It’s All Relative

As once said by a very smart man, in the form of a mathematical formula, “It’s all relative.” Now this statement seems to be more true in the area of mortgage interest rates. Last month a full point rise like we’ve seen has been a part of conversation among the media people, they talked about this depressing stuff like a “stillborn housing recovery.”

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