15 Year Mortgage Rates Drop – Mortgage Applications Increase

Long term mortgage rates are lower in the Weekly Mortgage Applications Survey released by The Mortgage Bankers Association. The biggest drop in today's mortgage interest rates was in 15 year mortgage rates. The current average contract mortgage rate for 15 year mortgages is at 4.33 percent, down from the prior week's average contract rate of 4.53 percent. Average discount points decreased to 1.01 points from 1.25 points.