Mortgage Interest Rates Decrease and Mortgage Applications Increase: Average Contract Rate on 30 Year Mortgages at 4.78%
The average contract rate on long term mortgages decreased for the week ending January 7, 2011. In the most recent Weekly Mortgage Applications Survey released this morning by the Mortgage Bankers Association, the average contract rate on 30 year mortgages decreased to 4.78 percent. The previous week's mortgage survey had 30 year rates at 4.82 percent. Mortgage discount points on 30 year mortgages decreased to 0.91 points, down from the previous week's average of 1.10 points.
The average contract rate on long term mortgages decreased for the week ending January 7, 2011. In the most recent Weekly Mortgage Applications Survey released this morning by the Mortgage Bankers Association, the average contract rate on 30 year mortgages decreased to 4.78 percent. The previous week's mortgage survey had 30 year rates at 4.82 percent. Mortgage discount points on 30 year mortgages decreased to 0.91 points, down from the previous week's average of 1.10 points.
