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HSH.com Mortgage Rates Radar: Your first report on the mortgage market this week

Mortgage rates slip on greece this week


Rates on the most popular types of mortgages eased a little and seem poised to decline a bit more according to HSH.com's Weekly Mortgage Rates Radar. The average rate for conforming 30-year fixed-rate mortgages fell by two basis points (0.02 percent) to 4.11 percent. Conforming 5/1 Hybrid ARM rates also decreased by two basis points, closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 3.04 percent. 

Interest rates were affected because of Greece

"Interest rates have started to react to the unfolding financial mess in Greece," said Keith Gumbinger, vice president of HSH.com. "After a ‘no’ vote on reform by the Greek people last Sunday, investors are again plowing their money into bonds both here and abroad, driving yields down again, and dragging mortgage rates down with them."

Bonds are seen as a safe haven in times of trouble

U.S. and certain other countries' bonds are seen as a safe haven in times of trouble. With the influx of cash, yields on the influential ten-year Treasury have declined a fair bit in recent days, as have the yields on bonds in places like Germany, Japan and the United Kingdom. As U.S. government bond yields fall, bond-like instruments such as Mortgage-Backed Securities tend to follow along.

Realities of Greek default are making investors uncomfortable

"Bond yields and mortgage rates were actually very firm heading into last weekend, but the realities of the Greek default and the possibility of these troubles spreading to other debtor nations has again made investors uncomfortable. As has been the case, troubles in other places continue to benefit American mortgage borrowers, who get to enjoy lower rates as a result."

Average mortgage rates and points for conforming residential mortgages for the week ending July 7, according to HSH.com:

HSH.com Mortgage Rates Radar - Four Week Trend

Conforming 30-year fixed-rate mortgage

  • Average Rate: 4.11 percent
  • Average Points: 0.18 

Conforming 5/1-year adjustable-rate mortgage

  • Average Rate: 3.04 percent
  • Average Points: 0.08 

Average mortgage rates and points for conforming residential mortgages for the previous week ending June 30 were, according to HSH.com:

Conforming 30-year fixed-rate mortgage

  • Average Rate: 4.13 percent 
  • Average Points: 0.17 

Conforming 5/1-year adjustable-rate mortgage

  • Average Rate: 3.06 percent 
  • Average Points: 0.08 


The Weekly Mortgage Rates Radar reports the average rates and points offered on conforming 30-year fixed-rate mortgages and conforming 5/1 ARMs. The weekly mortgage rate survey covers a large sample of mortgage lenders and is conducted over a Wednesday-to-Tuesday cycle, with data released every Wednesday. HSH.com’s survey helps consumers find the best rates on home loans in changing market conditions. Unlike mortgage rate surveys that report average rates only, the Weekly Mortgage Rates Radar’s inclusion of both average rates and average points provides a more accurate view of mortgage terms currently offered by lenders. Every week, HSH.com conducts a survey of mortgage rate data for a wide range of consumer mortgage products including ARMs, FHA-backed and jumbo mortgages, as well as home equity loans and lines of credit from hundreds of direct lenders in the U.S. For information on additional loan products, visit HSH.com.

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