Bitcoin tops 41,000. Check current cryptocurrency prices here: MonitorBankRates.com

Fixed Mortgage Rates and Adjustable Mortgage Rates Increase: 30 Year Mortgage Rates Above 5.00%

Fixed mortgage rates and adjustable mortgage rates all increased in the latest mortgage survey released this morning. In Freddie Mac’s Primary Mortgage Market Survey, conforming fixed 30 year mortgage rates are now back above 5.00 percent at 5.05 percent for the first time since April 2010. Average mortgage discount points on 30 year mortgages for the week ending February 10, 2011, was 0.7 points, down from the previous week’s average of 0.8 points. Fixed conforming 15 year mortgage rates averaged 4.29 percent with 0.7 points for the week ending February 10, 2011, an increase from the previous week’s survey when rates on 15 year mortgages averaged 4.08 percent with 0.8 mortgage points.

Today's 5 year Treasury indexed adjustable mortgage rates averaged 3.92 percent for the week ending February 10, 2011, up considerably from the previous week’s average 5 year adjustable home mortgage rate of 3.69 percent. Average mortgage discount points on 5 year adjustable mortgages was 0.6 points, down from the previous week’s average of 0.7 points.



1 year Treasury indexed adjustable rates averaged 3.35 percent for the week ending February 10, 2011, up from the prior week’s average 1 year adjustable home mortgage rate of 3.26 percent. Average mortgage points on 1 year adjustable home loans was 0.6 points, unchanged from the prior week’s average.

 
Author: Brian McKay
February 10th, 2011