Mortgage Rates: Fixed Mortgage Rates Tumble
Average mortgage points also decreased to 1.12 from 1.13 according to the weekly mortgage survey released by the Mortgage Bankers Association (MBA). Current mortgage rates are lower this month than last month brought on by lower U.S. Treasury prices. The average contract mortgage rate on 15-year fixed rate mortgages decreased to 4.59 percent from 4.83 percent with the average points increasing to 1.07 from 1.06. The average contract rate on a one-year adjustable rate mortgage decreased to 6.47 percent from 6.58 percent with points decreasing to 0.11 from 0.14. Lender
APR / Rate
Fees / Points
Payment
$3,836
Includes 0.959 points for $3,836
Lender Fees: $0
$3,112 /mo
$3,548
Includes 0.887 points for $3,548
Lender Fees: $0
$3,190 /mo
$2,744
Includes 0.686 points for $2,744
Lender Fees: $0
$2,303 /mo
Rate data provided by RateUpdate.com. Displayed by Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Rate and product details.
Mortgage applications increased this week as a result of the lower mortgage rates. The MBA's Mortgage Composite Index increased 4.3 percent from a week earlier on a seasonally adjusted basis. Mortgage refinancing activity also increased, the MBA's Refinance Index increased by 17.7 percent from the previous week on a seasonally adjusted basis. MonitorBankRates.com has free mortgage rate tables you can search for today’s mortgage rates. Search for Mortgage Rates. Explore Other Mortgage and Refinance Offers
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