Mortgage Rates: Current Mortgage Rates Decrease in the Latest Survey

Mortgage Rates: Current Mortgage rates decreased in the latest survey released today.

The average contract rate for a fixed rate 30 year mortgages decreased to 5.34 percent from 5.44 percent. The average points went up to 1.12 points from .99 point. On June 29, 2009, MonitorBankRates.com reported in it’s weekly mortgage rate survey that 30 year mortgage rates decreased to 5.47 percent from 5.65 percent according to the Mortgage Bankers Association.

Find Current Mortgage Rates Here

The average contract rate for a fixed rate 15 year mortgage was down to 4.81 percent, down from 4.93 percent. The average points on a 15 year home mortgage increased to 1.04 points from .92 points. MBR’s mortgage rate tables shows today’s mortgage rates on 15 year mortgages at 4.88 percent, down from 4.92 percent when we last reported on home mortgage rates.

The Mortgage Bankers Association also reported mortgage applications were down week over week by 18.9 percent and 7.4 percent compared to the same week one year ago. The Mortgage refinance index was down by an even greater percentage rate, their Refinance Index was down 30 percent from the prior week at 1482.2, the lowest level of mortgage refinancing activity since November 2008.

Today’s mortgage rates have stabilized since the recent run up in rates the past month. You can find the best mortgage interest rate right here by using MBR’s mortgage search engine. All you have to do is select the mortgage loan type you’re interested in, enter the zip code and dollar amount of the loan and a list of banks and financial institutions in your area will display today’s mortgage rates.

You can find mortgage rates for a home purchase or for refinancing a current home loan. Banks will display 30 year mortgage rates, 15 year mortgage rates, jumbo mortgage rates and adjustable mortgage rates. You can also find home equity line of credit rates (HELOC) and home equity loan rates.

Mortgage Search Engine