Mortgage Rates Near Historic Lows: 30 Year Mortgage Rates at 4.72%, 15 Year Mortgage Rates at 4.17%

Mortgage rates were down again in the latest mortgage survey released by Freddie Mac on Thursday. In the latest Primary Mortgage Market Survey, 30 year mortgage rates were down to 4.72 percent for the week ending June 10, 2010, down from the prior week's average 30 year mortgage rate of 4.79 percent. Mortgage discount points averaged 0.7 points, down from the prior week’s average of  0.8 points. The reason for these near historic low mortgage rates is bond yields fell last week on the weak employment report and mortgage rates followed lower.

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Current 15 year fixed conforming mortgage rates were also down for the week ending June 10, 2010. Current 15 year conforming fixed mortgage rates are averaging at 4.17 percent, down from the previous week's average 15 year mortgage rate of 4.20 percent. Average mortgage discount points were unchanged at 0.7 points.

5 year U.S. Treasury indexed adjustable rate mortgages are still under 4.00 percent. The average 5 year adjustable mortgage rate is averaging 3.92 percent, down from the prior week’s average 5 year adjustable mortgage rate of 3.94 percent. Mortgage discount points averaged 0.7 points, unchanged from last week’s average mortgage point.

1 year U.S. Treasury indexed adjustable mortgage rates are averaging 3.91 percent, down from the previous week’s average 1 year adjustable mortgage rate of 3.95 percent. Mortgage points averaged o.6 points, down from last week’s average of 0.7 points.