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Home Mortgage Rates Decrease MBA: 30 Year Mortgage Rates at 4.44%, 15 Year Mortgage Rates at 3.88%

Mortgage rates decreased in the latest mortgage survey released this morning. Fixed 30 year mortgage rates and fixed 15 year fixed mortgage rates were lower. 1 year adjustable mortgage rates bucked the downtrend and headed higher in the Mortgage Bankers Association’s (MBA) Weekly Mortgage Survey.

30 year fixed home mortgage rates decreased to 4.44 percent for the week ending September 17, 2010, down from the prior week’s average contract 30 year home mortgage interest rate of 4.47 percent. Average mortgage discount points on 30 year home mortgage loans decreased to 0.81 points, a decrease from last week’s average of 1.08 points.

15 year fixed mortgage interest rates are averaging 3.88 percent for the week ending September 17, 2010, down from the prior week’s average 15 year mortgage interest rate of 3.96 percent. Average mortgage discount points on 15 year home mortgage rates decreased to 0.86 points, down from the previous week’s average of 1.03 points.

1 year adjustable home mortgage loan rates increased to 6.96 percent for the week ending September 17, 2010, an increase from last week’s average 1 year adjustable mortgage interest rate of 6.89 percent. Mortgage discount points on 1 year adjustable home mortgage loans averaged 0.21 points, down from the previous week’s average of 0.23 points.
Author: Brian McKay
September 22nd, 2010