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 #2562839
4.924%
15-Year Fixed
4.750%
$4,625
Includes 0.875 points for $3,500
Lender Fees: $1,125
$3,112 /mo
 NMLS #2473786
4.934%
15-Year Fixed
4.750%
$4,887
Includes 0.948 points for $3,792
Lender Fees: $1,095
$3,112 /mo
 NMLS #1835285
5.007%
15-Year Fixed
4.875%
$3,500
Includes 0.875 points for $3,500
Lender Fees: $0
$3,138 /mo
 NMLS #1935422
License: 60DBO-109262
5.047%
15-Year Fixed
4.750%
$7,933
Includes 0.662 points for $2,648
Lender Fees: $5,285
$3,112 /mo
 NMLS #324599
License: 324599
5.063%
15-Year Fixed
4.875%
$5,070
Includes 1.000 points for $4,000
Lender Fees: $1,070
$3,138 /mo
 NMLS #757416
5.140%
15-Year Fixed
4.990%
$3,960
Includes 0.990 points for $3,960
Lender Fees: $0
$3,162 /mo
NMLS #1935422
License: 60DBO-109262
5.300%
5-Year ARM
5.125%
$7,925
Includes 0.660 points for $2,640
Lender Fees: $5,285
$2,178 /mo
NMLS #2473786
5.361%
5-Year ARM
5.250%
$4,967
Includes 0.968 points for $3,872
Lender Fees: $1,095
$2,209 /mo
 NMLS #6606
5.381%
15-Year Fixed
5.240%
$3,708
Includes 0.927 points for $3,708
Lender Fees: $0
$3,214 /mo
 NMLS #1025894
5.508%
15-Year Fixed
5.375%
$3,480
Includes 0.695 points for $2,780
Lender Fees: $700
$3,242 /mo
NMLS #1835285
5.578%
5-Year ARM
5.500%
$3,439
Includes 0.735 points for $2,940
Lender Fees: $499
$2,272 /mo
NMLS #1835285
5.817%
30-Year Fixed
5.750%
$2,927
Includes 0.607 points for $2,428
Lender Fees: $499
$2,335 /mo
NMLS #1935422
License: 60DBO-109262
5.827%
30-Year Fixed
5.625%
$8,917
Includes 0.908 points for $3,632
Lender Fees: $5,285
$2,303 /mo
NMLS #2562839
5.847%
5-Year ARM
5.750%
$4,229
Includes 0.776 points for $3,104
Lender Fees: $1,125
$2,335 /mo
NMLS #2473786
5.861%
30-Year Fixed
5.750%
$4,847
Includes 0.938 points for $3,752
Lender Fees: $1,095
$2,335 /mo
NMLS #2562839
5.867%
30-Year Fixed
5.750%
$5,125
Includes 1.000 points for $4,000
Lender Fees: $1,125
$2,335 /mo
NMLS #324599
License: 324599
5.979%
30-Year Fixed
5.875%
$4,570
Includes 0.875 points for $3,500
Lender Fees: $1,070
$2,367 /mo
NMLS #757416
6.045%
30-Year Fixed
5.990%
$2,376
Includes 0.594 points for $2,376
Lender Fees: $0
$2,396 /mo
NMLS #6606
6.205%
30-Year Fixed
6.125%
$3,420
Includes 0.855 points for $3,420
Lender Fees: $0
$2,431 /mo
NMLS #1025894
6.208%
30-Year Fixed
6.125%
$3,520
Includes 0.705 points for $2,820
Lender Fees: $700
$2,431 /mo
 NMLS #399799
6.218%
30-Year Fixed
6.125%
$4,111
Includes 0.696 points for $2,784
Lender Fees: $1,327
$2,431 /mo
NMLS #324599
License: 324599
6.222%
5-Year ARM
6.125%
$4,206
Includes 0.784 points for $3,136
Lender Fees: $1,070
$2,431 /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.
