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Home Mortgage Rates Increase MBA: 30 Year Mortgage Rates at 4.50%, 15 Year Mortgage Rates at 4.00%

Mortgage rates increased in the most recent mortgage survey released this morning. 30 year fixed mortgage rates and 15 year fixed mortgage rates and 1 year adjustable mortgage rates were all higher in the Mortgage Bankers Association’s (MBA) Weekly Mortgage Survey.

30 year mortgage rates increased to 4.50 percent for the week ending September 3, 2010, up from the previous week’s average contract 30 year mortgage rate of 4.43 percent. Mortgage discount points decreased to 0.96 points, down from last week’s average of 1.34 points.



15 year mortgage rates increased to 4.00 percent for the week ending September 3, 2010, up from the prior week's average 15 year mortgage interest rate of 3.88 percent. Mortgage discount points on 15 year home mortgage loans averaged 0.87 points, down from the previous week’s average of 1.45 points. 

1 year adjustable mortgage interest rates averaged 7.00 percent for the week ending September 3, 2010, up from the previous week's average 1 year adjustable mortgage of 6.95 percent. Mortgage discount points averaged 0.21 points, a decrease from previous week’s average of 0.23 points.
 
Author: Brian McKay
September 8th, 2010