Higher Mortgage Interest Rates

Mortgage interest rates have continued their accent higher this week according to the most recent mortgage rate survey. Freddie Mac reported mortgage interest rates are up for the week ending June 11, 2009.

Average 30 year mortgage rates are up to 5.59 percent for a conforming fixed rate mortgage with 0.7 point, up from the prior week’s average of 5.29 percent. Freddie Mac’s survey reports only on conforming mortgages, for a report on jumbo mortgage rates check MonitorBankRates.com’s weekly mortgage rates report. In addition to jumbo mortgage rates, MBR lists HELOC rates and home equity loan rates.

15 year fixed rate mortgages averaged 5.06 percent this week with an average 0.7 point, up from last week when it averaged 4.79 percent.

Five-year adjustable-rate mortgages averaged 5.17 percent this week, with an average 0.6 point, up from last week’s 4.85 percent average.

One-year adjustable rate mortgages averaged 5.04 percent this week with an average 0.7 point, up from last week’s average of 4.81 percent.

MonitorBankRates.com has also reported a sharp uptick in mortgage interest rates this past week. You can view current mortgage rates in your area by using our mortgage rate tables.