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Mortgage Rates Today in PMMS: 30 Year Mortgage Rates at 3.66%

For the forth consecutive week average 30 year mortgage rates are higher in Freddie Mac's Primary Mortgage Market Survey. Average 30 year mortgage rates increased to 3.66 percent with 0.7 point for the week ending August 23, 2012. 30 year mortgage rates are up from the prior week's average of 3.62 percent.

While average mortgage interest rates have increased in the past four week's PMMS survey you can expect rates to decrease next week. 10 year Treasury yields have tumbled the past couple of days on news that the majority of Fed governors say more Fed action is needed to help the economy.

This news sent bond yields down from a recent high of 1.82 percent down to the current yield of 1.67 percent. Average mortgage rates todayon 30 year conforming loans in Bankrate's national average survey are down to 3.59 percent.

You can also find 30 year mortgage rates or refinance rates below the averages. Today's mortgage rates on our rate table for California has some lenders offering 30 year rates as low as 3.25 percent.

In Freddie Mac's survey this week 15 year mortgage rates have also moved higher. 15 year mortgage rates averaged 2.89 percent with 0.7 point, an increase from the previous week's average 15 year mortgage rate of 2.88 percent.

Current mortgage rates on 15 year loans in Bankrate's survey are averaging 2.93 percent. Right now on our 15 year refinance rates list in Texas there are lenders offering 15 year refi rates below the average and as low as 2.38 percent with points.

Adjustable mortgage rates were mixed in this week's survey. Average conforming 5 year adjustable mortgage rates were at 2.80 percent with 0.6 points, up from last week's average of 2.76 percent. Mortgage rates current on our 5 year adjustable loans list for the state of Florida are as low as 2.00 percent.
Author: Brian McKay
August 23rd, 2012