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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

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.
Author: Brian McKay
March 23rd, 2011