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Fixed Mortgage Rates Head Higher Says MBA: 30 Year Fixed Mortgage Rates at 4.34%, 15 Year Fixed Mortgage Rates at 3.74%

Fixed mortgage rates are higher in the latest mortgage survey released by the Mortgage Bankers Association (MBA). 30 year fixed mortgage rates and 15 year fixed mortgage rates increased for the first time in six weeks in the Weekly Mortgage Applications Survey. 30 year fixed home mortgage rates increased to 4.34 percent for the week ending October 15, 2010, an increase from the previous week’s average of 4.21 percent. Average mortgage discount points on 30 year home mortgage loans decreased to 0.81 points, down from the prior week’s average of 1.02 points.

Fixed 15 year fixed home mortgage interest rates are averaging 3.74 percent for the week ending October 15, 2010, up from the previous week’s average 15 year home mortgage interest rate of 3.62 percent. Average mortgage discount points on 15 year home mortgage loan rates decreased to 1.00 points, down from the previous week’s average of 1.06 points.

Author: Brian McKay
October 22nd, 2010