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Mortgage Rates Hit New Lows: 30 Year Mortgage Rates at 4.55%, 15 year Mortgage Rates at 3.91% – MBA

Mortgage Rates


Mortgage rates decreased again making new all time lows in the most recent mortgage survey. 30 year fixed mortgage rates and 15 year fixed mortgage rates have it the lowest point ever recorded in the past 30 years in the Mortgage Bankers Association's Weekly Mortgage Survey.



The average contract rate for 30 year mortgage rates decreased to 4.55 percent for the week ending August 20, 2010, down from the previous week’s average contract 30 year mortgage rate of 4.60 percent. Mortgage discount points decreased to 0.89 points, down from the prior week’s average of 0.92 points.

15 year mortgage rates decreased to 3.91 percent for the week ending August 20, 2010, down from last week’s average 15 year mortgage rate of 3.99 percent. Mortgage discount points on 15 year home loans increased to 1.64 points, up from the previous week’s average of 1.05 points. 

1 year adjustable mortgage rates were lower for the week ending August 20, 2010. The average contract adjustable mortgage rate on 1 year adjustable mortgages decreased to 6.84 percent, down from the previous week’s average 1 year adjustable rate mortgages averaged 6.90 percent. Mortgage discount points averaged 0.22 points, up from previous week’s average of 0.21 points. 

You can search and compare mortgage rates in FL, CA, NJ or any other state by using the mortgage rate tables on MonitorBankRates.com. We also offer mortgage rate widgets and a free mortgage calculator. The mortgage rate widgets are available for our national average mortgage rates and average state mortgage rates for all states.
 
Author: Brian McKay
August 25th, 2010