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Mortgage Rates Increase: 30 Year Mortgage Rates at 4.75%, 15 Year Mortgage Rates at 4.20%

Mortgage rates are up in the latest Primary Mortgage Market Survey released by Freddie Mac this morning. Fixed conforming 30 year mortgage rates are up to 4.75 percent for the week ending June 17, 2010, up from the prior week’s average 30 year mortgage rate of 4.72 percent. Mortgage discount points averaged 0.7 points, unchanged from the prior week.

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Fixed conforming 15 year mortgage rates are also higher for the week ending June 17, 2010. Current 15 year conforming fixed mortgage rates are averaging at 4.20 percent, up from the previous week’s average 15 year mortgage rate of 4.17 percent. Average mortgage discount points were unchanged at 0.7 points. Lending Tree is advertising 15 year fixed mortgage rates at 3.88 percent.

Current 5 year Treasury indexed adjustable rate mortgages were down for the week ending June 17, 2010. Current 5 year adjustable mortgage rates are averaging 3.89 percent, down from the prior week’s average 5 year adjustable mortgage rate of 3.92 percent. Average mortgage discount points were unchanged at 0.7 points. Wells Fargo Bank is currently advertising 5 year adjustable mortgage rates at 3.50 percent and 5 year FHA mortgage rates at 3.375 percent.

Current 1 year Treasury indexed adjustable mortgage rates are averaging 3.82 percent, a decrease from the previous week’s average 1 year adjustable mortgage rate of 3.91 percent. Mortgage points averaged o.6 points, unchanged from last week.
Author: Brian McKay
June 17th, 2010