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Mortgage Rates: 30 Year Mortgage Rates Down to 5.00%

mortgage-rates-30-year-mortgage-rates-down-to-500Current 30 year mortgage rates are down in the latest mortgage survey. 30 year mortgage rates are back down to 5.00 percent for the week ending May 5, 2010. Thirty year mortgage rates are down from the prior week's average mortgage rate of 5.06 percent according to the most recent Primary Mortgage Market Survey released by Freddie Mac. Mortgage discount points averaged 0.7 points.

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Current 15 year fixed mortgage rates are down to 4.36 percent for the week ending May 5, 2010, down from the previous week's average 15 year mortgage rate of 4.39 percent. Mortgage points remain unchanged from the prior week with discount points averaging 0.7 points.

5 year U.S. Treasury indexed adjustable mortgage rates also declined for the week ending May 5, 2010. 5 year adjustable mortgage rates are now under 4.00 percent at 3.97 percent, down from the prior week's average 5 year adjustable mortgage rate of 4.00 percent. Mortgage points averaged 0.7 points, up from last week's average of 0.6 points.

You can find 5 year adjustable mortgage rates lower than 3.97 percent. EverBank is currently advertising a 5 year adjustable mortgage rate of 3.50 percent.

1 year adjustable mortgage rates had a big decline this week. Current 1 year adjustable mortgage rates are down 18 basis points to 4.07 percent, down from the prior week's average one year mortgage rate of 4.25 percent. Mortgage discount points averaged o.6 points, up from last week's average of 0.5 points.
 
Author: Brian McKay
May 6th, 2010