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Mortgage Rates Increase in MBA Mortgage Survey: 30 Year Mortgage Rates at 4.66%, 15 Year Mortgage Rates at 3.98%

Home mortgage rates are higher again this week in the Mortgage Bankers Association’s Weekly Applications Survey. The average contract mortgage rate on 30 year home mortgages increased to 4.66 percent for the week ending December 3, 2010, up from the previous week’s average 30 year mortgage rate of 4.56 percent. 30 year mortgage rates have increased for the fourth consecutive week and haven’t been higher in the survey since July, 2010. Average mortgage discount points on 30 year home mortgage loans decreased to 0.95 points, down from the prior week’s average of 0.95 points.

The average contract mortgage rate on 15 year home mortgages increaed to 3.98 percent for the week ending December 3, 2010, up from the previous week’s average 15 year home mortgage rate of 3.91 percent. Average mortgage discount points on 15 year home mortgage loans was 0.97 points, up from the previous week’s average of 0.88 points.


 
Author: Brian McKay
December 8th, 2010