Current Mortgage Rates Decline: 30 Year Mortgage Rates at 5.07

Mortgage rates declined in the most recent Primary Mortgage Market Survey released yesterday by Freddie Mac. The current average conforming fixed 30 year mortgage rate is at 5.07 percent for the week ending April 15, 2010, a decline from the previous week’s average mortgage rate of 5.21 percent. Mortgage discount points averaged 0.6 points, unchanged from the prior week's average.

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15 year fixed mortgage rates also declined for the week ending April 15, 2010. The current average fixed conforming 15 year mortgage rate is back under 4.50 percent at 4.40 percent, down from the previous week’s average rate of 4.52 percent.  Mortgage discount points averaged 0.7 points.

Adjustable mortgage rates also decreased this week over last. The current average 5 year Treasury-indexed adjustable mortgage rate decreased to 4.08 percent, down from last week’s average mortgage interest rate of 4.25 percent. Mortgage points averaged 0.6 points. A year ago at this time, 5 year adjustable rate mortgages were 4.88 percent.

1 year adjustable mortgage rates were down slightly this week to 4.13 percent, down from last week's average 1 year mortgage interest rate of 4.14 percent. Discount points averaged o.5 points, down from last week's average of 0.6 points.