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Mortgage Rates Head Lower In Mortgage Survey: 30 Year Mortgage Rates Back Under 5.00% at 4.95%

Current conforming fixed mortgage rates are lower in the latest mortgage survey released this morning. In this week's Primary Mortgage Market Survey released by Freddie Mac, conforming fixed 30 year mortgage rates are back under 5.00 percent averaging 4.95 percent for the week ending February 24, 2011, a decrease from the prior week’s average of 5.00 percent. Average mortgage discount points on 30 year mortgages were 0.6 points, down from the previous week's average of 0.7 points.

Conforming fixed 15 year mortgage rates averaged 4.22 percent with 0.7 points for the week ending February 24 2011, down from the previous week’s survey when 15 year mortgage rates averaged 4.27 percent with 0.7 mortgage discount points.



5 year Treasury indexed adjustable mortgage rates averaged 3.80 percent for the week ending February 24, 2011, down from the previous week’s average 5 year adjustable home mortgage rate of 3.87 percent. Average mortgage discount points on 5 year adjustable mortgages were 0.6 points, unchanged from the prior week’s average.

1 year U.S. Treasury-indexed adjustable rates averaged 3.40 percent for the week ending February 24, 2011, up slightly from the prior week’s average 1 year adjustable home mortgage rate of 3.39 percent. Average mortgage points on 1 year adjustable home loans were 0.6 points, unchanged from the prior week.
 
Author: Brian McKay
February 24th, 2011