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Fixed Home Mortgage Rates Make Record Lows MBA: 30 Year Mortgage Rates at 4.38%, 15 Year Mortgage Rates at 3.77%

Fixed home mortgage rates decreased in the latest mortgage survey released this morning. 30 year fixed mortgage rates and 15 year fixed mortgage rates were both made record lows in this week's Weekly Mortgage Survey released by the Mortgage Bankers Association (MBA). 1 year adjustable mortgage interest rates rose for the second consecutive week in mortgage survey.

30 year fixed home mortgage rates are down to 4.38 percent for the week ending September 24, 2010, a decrease from the previous week’s average contract 30 year home mortgage rate of 4.44 percent. Average mortgage discount points on 30 year home mortgage loans increased to 1.01 points, up from last week’s average of 0.81 points.

15 year fixed home mortgage loan rates are averaging 3.77 percent for the week ending September 24, 2010, down from the prior week’s average 15 year mortgage interest rate of 3.88 percent. Average mortgage discount points on 15 year home mortgage loan rates increased to 1.13 points, up from the previous week’s average of 0.86 points. 

1 year adjustable home mortgage loan rates increased to 7.04 percent for the week ending September 24, 2010, an increase from last week’s average 1 year adjustable mortgage interest rate of 6.96 percent. Mortgage discount points on 1 year adjustable home mortgage loans averaged 0.22 points, up from the previous week’s average of 0.21 points.
Author: Brian McKay
September 29th, 2010