Mortgage rates were down slightly this week according to the most recent Primary Mortgage Market Survey released by Freddie Mac. Current mortgage rates are hovering above record lows.
Today’s conforming 30-year fixed rate mortgage is at 5.07 percent, down from last week’s average mortgage rate of 5.08 percent with an average 0.7 discount points.
The average 15-year mortgage rate is also down this week, currently 15-year mortgage rates are averaging 4.50 percent with 0.7 discount points, down from the previous week’s average 15-year mortgage rate of 4.54 percent.
Adjustable rate mortgages were mixed this week, the average 5-year adjustable rate mortgage is at 4.51 percent this week with an average 0.5 discount points. Last week’s average 5-year adjustable mortgage rate was at 4.59 percent. Last year at his time the average 5-year ARM was near 6.00 percent.
The average one-year Treasury indexed adjustable mortgage rate is current at 4.64 percent with an average 0.6 discount points this week, up from the prior week’s average rate of 4.62 percent.
Author: Brian McKay
September 11th, 2009
