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Mortgage Rates Make New Record Low Says Freddie: 30 Year Mortgage Rates at 4.36%, 15 Year Mortgage Rates at 3.86%

Mortgage rates made another record low in the most recent mortgage rate report released yesterday. Both 30 year mortgage rates and 15 year mortgage rates made fresh lows in Freddie Mac's Primary Mortgage Market Survey for the week ending August 26, 2010. Current 5 year adjustable mortgage rates tied an all-time low set the prior week.

30 year mortgage rates are averaging 4.36 percent for the week ending August 26, 2010, down from the previous week’s average 30 year mortgage rate of 4.42 percent. Average mortgage discount points on 30 year home mortgages remained unchanged at 0.7 points. A year ago average 30 year mortgage rates were above 5.00 percent at 5.14 percent.



15 year mortgage rates are averaging 3.86 percent for the week ending August 26, 2010, a decline from the prior week’s average of 15 year mortgage interest rate of 3.90 percent. Mortgage discount points on 15 year mortgages remained unchanged at 0.6 mortgage points. A year ago 15 year mortgage rates were averaging 4.58 percent.

5 year Treasury indexed adjustable mortgage rates remain at the lowest point ever recorded in Freddie's mortgage rate suvery. 5 year U.S. Treasury indexed adjustable mortgage rates are averaging 3.56 percent for the week ending August 26, 2010, no change from the previous week's average 5 year adjustable mortgage interest rate. Mortgage discount points on 5 year adjustable mortgages declined to 0.6 points, down from the previous week’s average of 0.7 points.

1 year Treasury indexed adjustable mortgage rates are averaging 3.52 percent for the week ending August 26, 2010, a decline from the previous week’s average 1 year adjustable mortgage rate of 3.53 percent. Average mortgage discount points were 0.7 points, unchanged from the previous week’s average.
 
Author: Brian McKay
August 27th, 2010