Could Rising Mortgage Rates Derail the Housing Recovery
15 year fixed-rate mortgages averaged 4.79 percent this week with an average 0.7 point, up from last weeks average rate of 4.53 percent. Five-year Treasury-indexed hybrid adjustable-rate mortgages averaged 4.85 percent this week, with an average 0.6 point, up from last week when it averaged 4.82 percent. One-year Treasury-indexed ARMs averaged 4.81 percent this week with an average 0.6 point, up from last week when it averaged 4.69 percent. Mortgage rates are the highest point since late last year but they are still low by historical standards. Rates would have to increase a lot more before derailing the housing market. The biggest drags on housing right now is the number of homes for sale and the rising unemployment rate. Lender
APR / Rate
Fees / Points
Payment
 NMLS #2473786
5.045%
15-Year Fixed
4.875%
$4,523
Includes 0.857 points for $3,428
Lender Fees: $1,095
$3,138 /mo
 NMLS #1085173
5.056%
15-Year Fixed
4.875%
$4,870
Includes 0.875 points for $3,500
Lender Fees: $1,370
$3,138 /mo
 NMLS #757416
5.141%
15-Year Fixed
4.990%
$3,988
Includes 0.997 points for $3,988
Lender Fees: $0
$3,162 /mo
 NMLS #1067
5.151%
15-Year Fixed
5.000%
$3,988
Includes 0.997 points for $3,988
Lender Fees: $0
$3,164 /mo
 NMLS #1701910
5.179%
15-Year Fixed
4.990%
$4,990
Includes 0.875 points for $3,500
Lender Fees: $1,490
$3,162 /mo
 NMLS #613839
5.192%
15-Year Fixed
4.990%
$5,351
Includes 0.866 points for $3,464
Lender Fees: $1,887
$3,162 /mo
 NMLS #2059741
5.193%
15-Year Fixed
4.990%
$5,360
Includes 0.840 points for $3,360
Lender Fees: $2,000
$3,162 /mo
 NMLS #1312186
5.365%
15-Year Fixed
5.250%
$3,000
Includes 0.750 points for $3,000
Lender Fees: $0
$3,216 /mo
NMLS #2473786
5.466%
5-Year ARM
5.375%
$4,067
Includes 0.743 points for $2,972
Lender Fees: $1,095
$2,240 /mo
 NMLS #1025894
5.503%
15-Year Fixed
5.375%
$3,348
Includes 0.662 points for $2,648
Lender Fees: $700
$3,242 /mo
NMLS #1312186
5.837%
5-Year ARM
5.750%
$3,792
Includes 0.948 points for $3,792
Lender Fees: $0
$2,335 /mo
 NMLS #2561451
5.858%
30-Year Fixed
5.750%
$4,738
Includes 0.997 points for $3,988
Lender Fees: $750
$2,335 /mo
NMLS #1085173
5.866%
5-Year ARM
5.750%
$5,146
Includes 0.944 points for $3,776
Lender Fees: $1,370
$2,335 /mo
NMLS #2473786
5.947%
30-Year Fixed
5.875%
$3,135
Includes 0.510 points for $2,040
Lender Fees: $1,095
$2,367 /mo
NMLS #757416
5.954%
30-Year Fixed
5.875%
$3,436
Includes 0.859 points for $3,436
Lender Fees: $0
$2,367 /mo
NMLS #1067
5.955%
30-Year Fixed
5.875%
$3,480
Includes 0.870 points for $3,480
Lender Fees: $0
$2,367 /mo
NMLS #1085173
5.963%
30-Year Fixed
5.875%
$3,870
Includes 0.625 points for $2,500
Lender Fees: $1,370
$2,367 /mo
NMLS #2059741
6.001%
30-Year Fixed
5.875%
$5,476
Includes 0.869 points for $3,476
Lender Fees: $2,000
$2,367 /mo
NMLS #613839
6.086%
30-Year Fixed
5.990%
$4,143
Includes 0.564 points for $2,256
Lender Fees: $1,887
$2,396 /mo
NMLS #1025894
6.200%
30-Year Fixed
6.125%
$3,196
Includes 0.624 points for $2,496
Lender Fees: $700
$2,431 /mo
NMLS #1312186
6.207%
30-Year Fixed
6.125%
$3,500
Includes 0.875 points for $3,500
Lender Fees: $0
$2,431 /mo
 NMLS #399799
6.213%
30-Year Fixed
6.125%
$3,900
Includes 0.643 points for $2,572
Lender Fees: $1,328
$2,431 /mo
NMLS #1701910
6.411%
30-Year Fixed
6.375%
$1,490
Includes 0.000 points for $0
Lender Fees: $1,490
$2,496 /mo
Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Rate and product details.
The rise in mortgage rates has put a dent in the recent mortgage refinancing boom. Although another contribution factor for the drop-off in refinancing is the fact that almost everyone who has enough equity in their home and has good credit has probably already refinanced their mortgage. Explore Other Mortgage and Refinance Offers
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In the latest survey on mortgage rates, Freddie Mac has reported rates are up across the board, driven by higher the rise in long term bond yields. Average rates for 30 year fixed-rate mortgages with an average 0.7 point, are at 5.29 percent for the week ending June 4, 2009 up from 4.91 percent.
