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Mortgage Rates Hit New Record Lows: 30 Year Mortgage Rates at 4.44%, 15 Year Mortgage Rates at 3.92%

Mortgage rates hit another new record low in the most recent mortgage survey released this morning. This is the eight consecutive week 30 year fixed mortgage rates hit new record lows. Fixed conforming 30 year fixed mortgage rates, fixed conforming 15 year fixed mortgage rates and 5 year adjustable mortgage rates have hit record lows in this week’s Primary Mortgage Market Survey released by Freddie Mac (OTC: FMCC). 

Fixed conforming 30 year mortgage ratesare averaging 4.44 percent for the week ending August 12, 2010, a decline from the prior week’s average 30 year mortgage rate of 4.49 percent. Mortgage discount points on 30 year mortgages averaged 0.7 points, unchanged from the previous week’s average.



Fixed conforming 15 year mortgage rates are averaging 3.92 percent for the week ending August 10, 2010, down from the previous week’s average of 15 year mortgage rate of 3.95 percent. Average mortgage discount points on 15 year mortgages declined to 0.6 points, down from the previous week's average of 0.7 points.

5 year Treasury indexed adjustable mortgage rates are at the lowest point ever recorded in Freddie's survey. 5 year adjustable mortgage rates are averaging 3.56 percent for the week ending August 12, 2010, down from the prior week’s average 5 year adjustable mortgage rate of 3.63 percent. Average mortgage discount points remained the same at 0.7 points.

1 year adjustable mortgage rates are down to 3.53 percent for the week ending August 12, 2010, down from the previous week’s average 1 year adjustable mortgage rate of 3.55 percent. Mortgage discount points averaged 0.7 points, unchanged from the previous week's average.

Use our mortgage rate calculator to figure out the monthly mortgage payments on different types of home mortgage loans. Real estate agents you can display current national average mortgage rates or average mortgage rates in your state on your website. We offer free mortgage rates widgets which you can use to keep your clients up to date on today's mortgage rates.
 
Author: Brian McKay
August 12th, 2010