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Mortgage Rates: 30 Year Mortgage Rates at 5.03% and 15 Year Mortgage Rates at 4.35%

mortgage-rates-30-year-mortgage-rates-at-503-and-15-year-mortgage-rates-at-4352Mortgage rates were higher in the current mortgage application survey released this morning. The average contract rate on 30 year mortgages is back above 5.00 percent at 5.03 percent for the week ending February 19, 2010, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey. The average mortgage discount points on 30 year mortgages increased to 1.34 points from the prior week’s average of 1.00 point.

15 year mortgage rates increased to 4.35 percent for the week ending February 19, 2010, up from the previous week's average 15 year mortgage rate of 4.33 percent. Mortgage discount points increased to 1.31 points from 1.02 points the previous week.

1 year adjustable mortgage rates increased to 6.80 percent, up from last week’s average of 6.67 percent. Average mortgage points decreased to 0.33 points from 0.32 points.

Looking for today's mortgage rates? Find mortgage rates  by using our mortgage rate tables: Today's Mortgage Rates.

Mortgage applications were down again in the latest mortgage survey. The Refinance Index, which measures applications for refinancing, decreased 8.9 percent from the previous week. The seasonally adjusted Purchase Index, which measures applications for home purchases, decreased 7.3 percent from one week earlier.

For a more extensive report on today’s mortgage interest rates, released its Weekly Mortgage Rate Report on Monday, which follows:

Current Mortgage Rates

The average conforming 30 year mortgage rate is back above 5.00 percent at 5.07 percent this week, up from last week’s average home loan rate of 4.95 percent.

15 year conforming home loans are at 4.43 percent this week, up from the prior week’s average mortgage rate of 4.34 percent. 15 year refinance rates are also averaging 4.34 percent this week.

Jumbo Mortgage Rates

Fixed 30-year jumbo home mortgage loans are averaging 5.82% this week, up from last week’s average mortgage home loan rate of 5.64%. Mortgage refinance rates for jumbo loans are also increased to 5.82 percent this week.

Fixed 15 year jumbo interest mortgage rates are averaging 5.10% this week, an increase from last week’s average jumbo loan rate of 5.05%. 15 year mortgage refinance rates increased to 5.10%.

Adjustable Mortgage Rates

Conforming 1 year adjustable mortgage rates are averaging 4.26% this week, down from last week’s average 1 year home loan rate of 4.67%. You can also find average one year refinance rates at 4.26% this week.

Today’s 3 year adjustable mortgage interest rates are averaging 4.61%, up from last week’s average mortgage interest rate of 4.59%.

Conforming 5 year adjustable interest mortgage rates are averaging 4.05% this week, unchanged from the previous week’s average mortgage interest rate. The average 5 year mortgage refinance is also unchanged this week at 4.05%.

Conforming 7 year adjustable mortgage rates are averaging 4.59%, up from last week’s average loan rate of 4.47%. The average 7 year mortgage refinance rate is also at 4.59%.

Conforming 10 year bank mortgage rates are averaging 4.83%, down from the prior week’s average mortgage rate of 4.90%. Home loan refinance rates are also at 4.83 percent this week.

Jumbo Adjustable Mortgage Rates

1 year jumbo adjustable mortgage rates are averaging 5.59% this week, unchanged from the prior week’s average home mortgage loan rate. The average 1 year home refinance rate is also unchanged at 5.59%.

The average jumbo 3-year jumbo ARM is at 5.37% this week, up from last week’s average adjustable home loan rate of 5.27%. 3 year home refinance rates are also averaging 5.37% this week.

5 year jumbo ARMs are averaging 4.69% this week, unchanged from the prior week’s average home interest mortgage rate. The average 5 year refinance loan rate is unchanged at 4.69%.

7 year jumbo ARMs are averaging 5.75% this week, up from last week’s average loan mortgage rate of 5.61%. 7 year loan refinance rates are also averaging 5.75%, up from the prior week’s average refinance rate.

The average 10 year jumbo mortgage rate is at 5.92%, unchanged from the prior week’s average 10 year mortgage rate. 10 year refinance loan rates are also averaging 5.92% this week.

Conforming Interest Only Mortgage Rates

3 year interest only mortgage rates are averaging 4.84% this week, up from the prior week’s average interest rate of 4.74%. 3 year IO home loan refinance rates are averaging 4.84% this week.

5 year interest only loans are averaging 4.20% this week, down from last week’s average five year interest only mortgage interest rate of 4.32%. The average 5 year home mortgage refinance rate is at 4.20% this week.

7 year interest only home loans are averaging 4.77% this week, up from last week’s average interest rate of 4.67%.  The average 7 year IO refinance home loan rate is at 4.77% this week.

Jumbo Interest Only Mortgage Rates

3 year jumbo interest only mortgages are averaging 5.73% this week, up from last week’s jumbo interest mortgage rate of 5.57%. The average 3 year jumbo refinance interest rate is at 5.73% this week.

5 year jumbo IO loan rates are averaging 5.34%, up from the prior week’s average IO mortgage rate of 5.28%. 5 year jumbo refinance interest rates are averaging 5.34% this week.

The average jumbo 7 year IO loan mortgage rate is at 6.21%, up from last week’s average jumbo rate of 6.08%.

Home Equity Loans Rates

The average home equity loan rate was up this week over last. 10 year home equity loan rates are at 7.475% this week, up from last week’s average equity home loan rate of 7.357%. 15 year home equity rates are up to 7.735%, down from the prior week’s average of 7.479%.

Home Equity Line of Credit (HELOC) Rates

Average home equity line of credit rates are up this week over last. The average HELOC rate is at 4.899% this week, up from last week’s average HELOC rate of 4.669%.

The best refinance rates and mortgage rates can be found in your state or zip code by using our bank mortgage rate tables. Refinance Interest Rates - Mortgage Interest Rates
Author: Brian McKay
February 25th, 2010