Could Rising Mortgage Rates Derail the Housing Recovery
15 year fixed-rate mortgages averaged 4.79 percent this week with an average 0.7 point, up from last weeks average rate of 4.53 percent. Five-year Treasury-indexed hybrid adjustable-rate mortgages averaged 4.85 percent this week, with an average 0.6 point, up from last week when it averaged 4.82 percent. One-year Treasury-indexed ARMs averaged 4.81 percent this week with an average 0.6 point, up from last week when it averaged 4.69 percent. Mortgage rates are the highest point since late last year but they are still low by historical standards. Rates would have to increase a lot more before derailing the housing market. The biggest drags on housing right now is the number of homes for sale and the rising unemployment rate. Lender
APR / Rate
Fees / Points
Payment
 NMLS #1981224
4.924%
15-Year Fixed
4.625%
$8,000
Includes 1.000 points for $4,000
Lender Fees: $4,000
$3,086 /mo
 NMLS #1283930
License: 01970483
5.445%
15-Year Fixed
5.250%
$5,125
Includes 1.000 points for $4,000
Lender Fees: $1,125
$3,216 /mo
 NMLS #1838
5.455%
15-Year Fixed
5.250%
$5,395
Includes 0.974 points for $3,896
Lender Fees: $1,499
$3,216 /mo
 NMLS #1025894
5.548%
15-Year Fixed
5.375%
$4,512
Includes 0.953 points for $3,812
Lender Fees: $700
$3,242 /mo
NMLS #1981224
5.921%
30-Year Fixed
5.750%
$7,500
Includes 0.875 points for $3,500
Lender Fees: $4,000
$2,335 /mo
 NMLS #401822
6.039%
15-Year Fixed
5.750%
$7,500
Includes 0.875 points for $3,500
Lender Fees: $4,000
$3,322 /mo
 NMLS #3030
6.146%
15-Year Fixed
5.990%
$4,000
Includes 1.000 points for $4,000
Lender Fees: $0
$3,374 /mo
NMLS #1838
6.231%
30-Year Fixed
6.125%
$4,535
Includes 0.759 points for $3,036
Lender Fees: $1,499
$2,431 /mo
NMLS #401822
6.289%
30-Year Fixed
6.125%
$7,000
Includes 0.750 points for $3,000
Lender Fees: $4,000
$2,431 /mo
NMLS #1283930
License: 01970483
6.347%
30-Year Fixed
6.250%
$4,125
Includes 0.750 points for $3,000
Lender Fees: $1,125
$2,463 /mo
NMLS #1025894
6.477%
30-Year Fixed
6.375%
$4,284
Includes 0.896 points for $3,584
Lender Fees: $700
$2,496 /mo
NMLS #1981224
6.533%
5-Year ARM
6.375%
$6,740
Includes 0.915 points for $3,660
Lender Fees: $3,080
$2,496 /mo
NMLS #3030
6.949%
30-Year Fixed
6.875%
$3,000
Includes 0.750 points for $3,000
Lender Fees: $0
$2,628 /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.
The rise in mortgage rates has put a dent in the recent mortgage refinancing boom. Although another contribution factor for the drop-off in refinancing is the fact that almost everyone who has enough equity in their home and has good credit has probably already refinanced their mortgage. Explore Other Mortgage and Refinance Offers
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In the latest survey on mortgage rates, Freddie Mac has reported rates are up across the board, driven by higher the rise in long term bond yields. Average rates for 30 year fixed-rate mortgages with an average 0.7 point, are at 5.29 percent for the week ending June 4, 2009 up from 4.91 percent.
