Mortgage Rates Higher: 30 Year Mortgage Rates Back Above 5.00%

Mortgage rates are back above 5.00 percent in this morning's mortgage application survey. 30 year mortgage rates have been seesawing above and below 5.00 percent for over a month. The average contract 30 year mortgage rate is at 5.01 percent for the week ending March 5, 2010 according to the Mortgage Bankers Association's Weekly Mortgage Applications Survey. Mortgage discount points averaged 0.82 points.