ERATE Helps You Find The
Lowest Mortgage Rates

Start by selecting your state

Get Personalized Refinance Quotes

Stay informed! Use ERATE's rate charts.

  • Competitor's mortgage rates next to ERATE's rates
  • Commission transparency. We earn 0.75 points per loan.*
    Low profit margin = Low rates!
    * exception for loans under $200,000
  • Current mortgage rates with detailed closing costs - no personal info necessary
Start Shopping For
The Best Mortgage Rates

Keith Schemm's Weekly Economic Summary

After rising dramatically for the past six weeks to over 4.30% for 30 Year Fixed Rate Mortgages, it appears that rates have started to begin to improve falling to 4.12% for conforming loans and 4.40% for jumbo loans.

You can take advantage of this period of stability by preparing to be ready for any forthcoming rate improvement by watching real-time rates on Erate’s Website using our Rate search tool, understanding your specific Loan Scenario, and calling me for a current tailored rate quote with closing costs. Once the details of your Rate Quote & Loan Closing Costs make sense for you to proceed you will need to complete the On-Line Long Form Application from the link at the top of our home page and I will download it and get back to you over the phone to go over it with you. Your credit score will not be checked at Erate, until you give the go ahead later on. Meanwhile, having started this process now you will be in a position to take advantage quickly of still low historic mortgage interest rates.

Read More...

Keith Schemm

ERATE employee warned families about Toxic Mortgages years before the mortgage meltdown. Bloomberg/Businessweek

June 9, 2005 - Keith M. Schemm, a mortgage broker in Santa Clara, CA, says option ARMS are "pretty dangerous loans to do" for many families. "The problem is there's such a frenzy in the marketplace to buy a home."

Too bad Fed Chairman, Alan Greenspan didn't sound the alarm about such mortgages. He should have consulted with Keith. (Keith Schemm NMLS ID: 336660)

Freddie Mac Weekly Rate Summary

30-year fixed-rate mortgage (FRM) averaged 4.09 percent with an average 0.5 point for the week ending Jan. 19, 2017, down from last week when it averaged 4.12 percent. A year ago at this time, the 30-year FRM averaged 3.81 percent. 

15-year FRM this week averaged 3.34 percent with an average 0.5 point, down from last week when it averaged 3.37 percent. A year ago at this time, the 15-year FRM averaged 3.10 percent. 

5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.21 percent this week with an average 0.4 point, down from last week when it averaged 3.23 percent. A year ago, the 5-year ARM averaged 2.91 percent.

ERATE is a BBB Accredited Mortgage Rate Publisher in Santa Clara, CA ERATE is rated A Plus by Better Business Bureau - BBB
Equal Housing Opportunity