Mortgage Rates Increase in Mortgage Survey: 30 Year Mortgage Rates Averaging 4.81%, 15 Year Mortgage Rates Averaging 4.13%

Mortgage rates increased slightly in the latest Mortgage Application Survey released this morning by the Mortgage Bankers Association. The average contract 30 year mortgage rate increased to 4.81 percent for the week ending January 28, 2011, a slight increase from the prior week’s average of 4.80 percent. Average mortgage points on 30 year mortgages was 1.02 points, down from the previous week’s average of 1.19 points.

The  average contract 15 year mortgage mortgage also increased slightly for the week ending January 28, 2011. 15 year mortgage rates averaged 4.13 percent, up from the prior week’s average 15 year rate of 4.12 percent. Mortgage discount points averaged 1.01 points, a decrease from the prior week’s average of 1.26 points.

Loan Term
Lender
APR / Rate
Fees / Points
Payment
District Lending
NMLS #1835285
5.707%
15-Year Fixed
5.500%
$5,404
Includes 0.851 points for $3,404
Lender Fees: $2,000
$3,269 /mo
District Lending
NMLS #1835285
6.620%
30-Year Fixed
6.500%
$5,000
Includes 0.750 points for $3,000
Lender Fees: $2,000
$2,529 /mo
Rocket Mortgage
NMLS #3030
6.658%
15-Year Fixed
6.500%
$4,000
Includes 1.000 points for $4,000
Lender Fees: $0
$3,485 /mo
District Lending
NMLS #1835285
7.132%
5-Year ARM
7.000%
$5,328
Includes 0.832 points for $3,328
Lender Fees: $2,000
$2,662 /mo
Rocket Mortgage
NMLS #3030
7.350%
30-Year Fixed
7.250%
$4,000
Includes 1.000 points for $4,000
Lender Fees: $0
$2,729 /mo
Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Rate and product details.
 
Author: Brian McKay
February 2nd, 2011

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