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Mortgage Rates: Average Mortgage Rate Mixed
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We might actually see GDP grow again later this year. Second quarter GDP is being released today, the economy probably shrank around 1.5 percent. Once the economy starts growing again, be prepared for higher mortgage rates soon after. Mortgage Interest RatesAs a result of the increase in mortgage rates refinancing, activity has declined. The average contract mortgage interest rate is up to 5.36 percent, up from 5.31 percent, with the average points decreasing to 0.93 from 1.18 according to the Mortgage Bankers Association. Mortgage points are paid to by down a mortgage’s interest rate. The average contract interest rate for a 15-year mortgage is down to 4.75 percent from 4.80 percent with the average points of increasing to 1.14 points from 1.03 points. 15-year mortgage rates are low historically speaking, just over a year ago interest rates on a 15-year mortgage were over 6.00 percent. Adjustable Mortgage RatesShorter term adjustable rate mortgages have also been increasing the past couple of weeks while longer term adjustable mortgage rates have been holding steady. The average contract rate for one-year adjustable rate mortgages increased to 6.66 percent from 6.50 percent with the average points going down to 0.09 points from 0.11 points. Jumbo MortgageEarlier this week MonitorBankRates.com reported the average rate on a 30-year jumbo mortgage (fixed rates) was at 6.18 percent this week, down from the prior week’s average mortgage rate of 6.21 percent. Down from the 6.65 percent recent high set on June 15, 2009. The average mortgage rate on a fixed 15-year jumbo mortgage loan is at 5.81 percent this week, down from the last week’s average rate of 5.83 percent. Looking for Today’s Mortgage Rates? MonitorBankRates.com has free mortgage rate tables you can search for today’s mortgage rates in your zip code. Search for Mortgage Rates. |
Rate Tables       Mortgage CalculatorAverage Mortgage RatesBanking & Finance InformationBest CD RatesCD Calculator CD Rates Mortgage Calculator Mortgage Rates RatesORama.com Savings Account Rates Banking ArticlesCurrent Mortgage Rates: 30 Year Mortgage Rates at 4.02%Mortgage Rates Week of February 6, 30 Year Mortgage Rates at 3.90% Mortgage Refinance Rates: 15 Year Refinance Mortgage Rates at 3.29% Mortgage Interest Rates Friday February 3, 2011, 15 Year Mortgage Rates at 3.30% Mortgage Rates Currently Lower: 30 Year Mortgage Rates at 3.98% Mortgage Rates on 30 Year Home Loans Under 4.00%, 15 Year Mortgage Rates at 3.32% Mortgage Rates Higher on Conforming and Jumbo Loans: 30 Year Mortgage Rates at 4.05% Mortgage Rates Mixed This Week: 30 Year Mortgage Rates at 4.01% Mortgage Rates This Weekend: 30 Year Mortgage Rates at 4.01% Mortgage Rates Lower Today: 30 Year Mortgage Rates at 4.05% |
Mortgage rates were mixed in the latest survey released this week by a mortgage industry association. Current mortgage interest rates have been treading higher the past couple of weeks on the belief that the economy’s contraction this quarter won’t be as severe as once thought.
