Mortgage Rates Mixed as Mortgage Applications Increase: 30 Year Rates Averaging 4.80%, 15 Year Rates Averaging 4.02%

Mortgage rates were mixed and mortgage applications increased in the latest mortgage survey released this morning. In the Weekly Mortgage Application Survey released by the Mortgage Bankers Association the average contract 30 year mortgage rate increased to 4.80 percent with 0.96 points for the week ending March 18, 2011. In the previous week's mortgage survey the average 30 year mortgage rate was 4.79 percent with 1.07 points.

You can find 30 year mortgage rates and 30 year refinance rates lower than the MBA's average. Right now on our interest rate list in Nevada, CapWest Mortgage is offering 30 year refinance rates at 4.25 percent with 2 points and Aurora Bank is offering 30 year refi rates at 4.75 percent with zero points. You can search for the best loan rates in your state on our rate tables at MortgageRates.MonitorBankRates.com.

The  average contract 15 year mortgage rate declined for the week ending March 18, 2011. The average 15 year mortgage rate is at 4.02 percent with mortgage discount points averaging 0.90 points. In the previous week’s survey, 15 year mortgage rates averaged 4.03 percent with points averaging 0.85.

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
March 23rd, 2011

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