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Mortgage Rates Decrease: 30 Year Mortgage Rates at 4.47% MBA

Mortgage rates decreased in the latest mortgage survey released yesterday morning. 30 year fixed mortgage rates, 15 year fixed mortgage rates and 1 year adjustable mortgage rates were all lower in the Mortgage Bankers Association’s (MBA) Weekly Mortgage Survey.

Fixed 30 year mortgage rates decreased to 4.47 percent for the week ending September 10, 2010, down from the previous week’s average contract 30 year mortgage interest rate of 4.50 percent. Average mortgage discount points on 30 year home loans increased to 1.08 points, up from last week’s average of 0.96 points.



Fixed 15 year mortgage rates are back under 4.00 percent at 3.96 percent for the week ending September 10, 2010, down from the prior week’s average 15 year mortgage interest rate of 4.00 percent. Average mortgage discount points on 15 year home mortgage loans increased to 1.03 points, up from the previous week’s average of 0.87 points. 

1 year adjustable mortgage rates averaged 6.89 percent for the week ending September 10, 2010, down from the previous week’s average 1 year adjustable mortgage interest rate of 7.00 percent. Mortgage discount points on 1 year adjustable home loans averaged 0.23 points, up from the previous week’s average of 0.21 points.
 
Author: Brian McKay
September 16th, 2010