Home Loan Mortgage Rates Set New Record Lows

Mortgage rates set new records lows again in this week’s mortgage survey released this morning. 30 year mortgage rates, 15 year mortgage rates and 5 year adjustable mortgage rates all hit new record lows for the week ending September 2, 2010 in the most recent Primary Mortgage Market Survey released by Freddie Mac. Poor economic data released by the government this past week sent 10 year bond yields down below 2.50%. Lower bond yields drove mortgage rates lower. 

30 year mortgage rates are averaging 4.32 percent for the week ending September 2, 2010, down from the previous week’s average 30 year mortgage rate of 4.36 percent. Average mortgage discount points on 30 year home mortgages remained unchanged at 0.7 points.

15 year mortgage rates are averaging 3.83 percent for the week ending September 2, 2010, down from the previous week’s average of 15 year mortgage interest rate of 3.86 percent. Mortgage discount points on 15 year mortgages remained unchanged at 0.6 mortgage points.

5 year U.S. Treasury indexed adjustable mortgage rates are averaging 3.54 percent for the week ending September 2, 2010, down from the previous week’s average 5 year adjustable mortgage interest rate of 3.56 percent. Mortgage discount points on 5 year adjustable mortgages declined to 0.6 points, no change from last week’s average mortgage discount points.

1 year Treasury indexed adjustable mortgage rates are averaging 3.50 percent for the week ending September 2, 2010, a down from the previous week’s average 1 year adjustable mortgage rate of 3.52 percent. Average mortgage discount points were 0.7 points, unchanged from the previous week’s average.