Current Mortgage Rates – Higher Mortgage Rates Ahead

Mortgage rates jumped higher at the end of last week with most of the increases in mortgage interest rates coming at the end of the week. The sudden increase in current mortgage rates was brought on by better unemployment numbers and the belief that the recession will end this quarter.

Most economists are now expecting growth in the 2% to 3% range in the second half of 2009 if consumers pick up there spending and the unemployment rate doesn't get much higher. As a result of the better economic outlook today's mortgage rates are expected to head even higher before the end of 2009 and into 2010.

MonitorBankRates.com has free mortgage rate tables you can search for today’s mortgage rates in your zip code. Search for MortgageRates Here

Loan Type

Purchase Refinance with Cash out Refinance

State

Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District Of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming

FICO Score

Superior (780-850) Exceptional (760-779) Excellent (740-759) Very Good (720-739) Good (700-719) Above Average (680-699) Average (660-679) Fair (640-659) Need Improvement (620-639) Poor (350-620)

Loan Amount

$

Points

Up to 0 points Up to 0.5 points Up to 1 points Up to 1.5 points Up to 2 points Up to 2.5 points Up to 3 points

LTV

%

Loan Term

 15-Year Fixed  20-Year Fixed  30-Year Fixed  5-Year ARM  7-Year ARM  10-Year ARM

Show Advertiser Disclosure

The lenders whose rates and other terms appear on this chart are ICB's advertising partners. They provide their rate information to our data partner RateUpdate.com. Unless adjusted by the consumer, advertisers are sorted by APR from lowest to highest. For any advertising partners that do not provide their rate they are listed in advertisement display units at the bottom of the chart. Advertising partners may not pay to improve the frequency priority or prominence of their display. The interest rates, annual percentage rates and other terms advertised here are estimates provided by those advertising partners based on the information you entered above and do not bind. Any lender Monthly payment amounts stated do not include amounts for taxes and insurance premiums. The actual payment obligation will be greater if taxes and insurance are included. Although our data partner RateUpdate.com collects the information from the financial institutions themselves, the accuracy of the data cannot be guaranteed. Rates may change without notice and can change intraday. Some of the information contained in the rate tables including but not limited to special marketing notes is provided directly by the lenders. Please verify the rates and offers before applying for a loan with the financial institution themselves. No rate is binding until locked by a lender.

Lender

APR / Rate

Fees / Points

Payment

NMLS #1835285

5.026%

15-Year Fixed

4.875%

$4,000

Includes 1.000 points for $4,000

Lender Fees: $0

$3,138 /mo

Next >

NMLS #2473786

5.041%

15-Year Fixed

4.875%

$4,411

Includes 0.829 points for $3,316

Lender Fees: $1,095

$3,138 /mo

Next >

NMLS #757416

5.131%

15-Year Fixed

4.990%

$3,736

Includes 0.934 points for $3,736

Lender Fees: $0

$3,162 /mo

Next >

NMLS #1067

5.146%

15-Year Fixed

5.000%

$3,848

Includes 0.962 points for $3,848

Lender Fees: $0

$3,164 /mo

Next >

NMLS #613839

5.192%

15-Year Fixed

4.990%

$5,351

Includes 0.866 points for $3,464

Lender Fees: $1,887

$3,162 /mo

Next >

NMLS #1312186

5.277%

15-Year Fixed

5.125%

$4,000

Includes 1.000 points for $4,000

Lender Fees: $0

$3,190 /mo

Next >

NMLS #2433973

5.309%

15-Year Fixed

5.125%

$4,965

Includes 0.750 points for $3,000

Lender Fees: $1,965

$3,190 /mo

Next >

NMLS #1954591

License: 60DBO-113383

5.316%

15-Year Fixed

5.125%

$5,099

Includes 0.998 points for $3,992

Lender Fees: $1,107

$3,190 /mo

Next >

NMLS #2473786

5.362%

5-Year ARM

5.250%

$5,043

Includes 0.987 points for $3,948

Lender Fees: $1,095

$2,209 /mo

Next >

NMLS #6606

5.398%

15-Year Fixed

5.250%

$3,880

Includes 0.970 points for $3,880

Lender Fees: $0

$3,216 /mo

Next >

NMLS #1835285

5.466%

5-Year ARM

5.375%

$4,055

Includes 0.889 points for $3,556

Lender Fees: $499

$2,240 /mo

Next >

NMLS #1025894

5.508%

15-Year Fixed

5.375%

$3,464

Includes 0.691 points for $2,764

Lender Fees: $700

$3,242 /mo

Next >

NMLS #2561451

5.845%

30-Year Fixed

5.750%

$4,134

Includes 0.846 points for $3,384

Lender Fees: $750

$2,335 /mo

Next >

NMLS #1835285

5.851%

30-Year Fixed

5.750%

$4,427

Includes 0.982 points for $3,928

Lender Fees: $499

$2,335 /mo

Next >

NMLS #2473786

5.860%

30-Year Fixed

5.750%

$4,803

Includes 0.927 points for $3,708

Lender Fees: $1,095

$2,335 /mo

Next >

NMLS #1067

5.938%

30-Year Fixed

5.875%

$2,716

Includes 0.679 points for $2,716

Lender Fees: $0

$2,367 /mo

Next >

NMLS #1312186

5.955%

5-Year ARM

5.875%

$3,480

Includes 0.870 points for $3,480

Lender Fees: $0

$2,367 /mo

Next >

NMLS #757416

5.957%

30-Year Fixed

5.875%

$3,556

Includes 0.889 points for $3,556

Lender Fees: $0

$2,367 /mo

Next >

NMLS #1312186

6.081%

30-Year Fixed

6.000%

$3,500

Includes 0.875 points for $3,500

Lender Fees: $0

$2,399 /mo

Next >

NMLS #613839

6.086%

30-Year Fixed

5.990%

$4,143

Includes 0.564 points for $2,256

Lender Fees: $1,887

$2,396 /mo

Next >

NMLS #2433973

6.101%

30-Year Fixed

6.000%

$4,465

Includes 0.625 points for $2,500

Lender Fees: $1,965

$2,399 /mo

Next >

NMLS #399799

6.101%

30-Year Fixed

6.000%

$4,488

Includes 0.790 points for $3,160

Lender Fees: $1,328

$2,399 /mo

Next >

NMLS #1954591

License: 60DBO-113383

6.104%

5-Year ARM

5.990%

$4,959

Includes 0.963 points for $3,852

Lender Fees: $1,107

$2,396 /mo

Next >

NMLS #1954591

License: 60DBO-113383

6.106%

30-Year Fixed

5.990%

$5,031

Includes 0.981 points for $3,924

Lender Fees: $1,107

$2,396 /mo

Next >

NMLS #1025894

6.198%

30-Year Fixed

6.125%

$3,120

Includes 0.605 points for $2,420

Lender Fees: $700

$2,431 /mo

Next >

NMLS #6606

6.328%

30-Year Fixed

6.240%

$3,732

Includes 0.933 points for $3,732

Lender Fees: $0

$2,461 /mo

Next >

NMLS #2433973

6.376%

5-Year ARM

6.250%

$5,465

Includes 0.875 points for $3,500

Lender Fees: $1,965

$2,463 /mo

Next >

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.

Home Mortgage Rates

The current mortgage rate on a conforming 30-year loan increased to 5.51 percent the week ending August 10, 2009, up from the prior week's average mortgage loan rate of 5.26 percent. The average mortgage rate on a conforming 15-year conforming home loan is up to 4.87 percent this week, an increase from the previous week's average mortgage rate of 4.70 percent.

Jumbo Mortgage

The average rate on a jumbo 30-year home mortgage loan increased to 6.31 percent for the week ending August 10, 2009, up from last week's average home loan rate of 6.15 percent. 15-year jumbo loan rates had a big increase week over week, 15-year rates increased to 6.15 percent, up from the prior week's average rate of 5.80 percent.

Adjustable Mortgage

Conventinal adjustable mortgage rates were mixed the week ending today. One-year conforming mortgage rates decreased to 4.33 percent, down from the prior week's average rate of 4.42 percent. Three-year adjustable rates decreased slightly to 4.66 percent, down from 4.67 percent. Five-year adjustable rates increased to 4.61 percent, up from last week's average mortgage rate of 4.53 percent.

Seven-year adjustable mortgages are back above 5.00 percent at 5.05 percent, up from the previous week's average rate of 4.97 percent. Ten-year adjustable mortgage rates were down to 5.37 percent this week, a decrease from last week's average rate of 5.42 percent.

Jumbo Adjustable Home Mortgage

Jumbo adjustable mortgage rates were up for the most part, except for the seven-year jumbo ARM. One-year jumbo adjustable rates are at 5.21 percent today, up from last week's average rate of 5.16 percent. Three-year jumbo ARMs increased to 5.80 percent, up from 5.56 percent.

The average rate for a five-year jumbo ARM increased to 5.61 percent this week, up from the prior week's average five-year mortgage home loan of 5.43 percent. Seven-year jumbo ARMs decreased to 6.30 percent this week, down from the prior week's average rate of 6.36 percent. Ten-year ARMs increased to 6.86 percent, up from 6.72 last week.

Interest Only

Interest only mortgages were up the week ending August 10, 2009, except for the seven-year jumbo interest only mortgage. Conventional three-year interest only mortgage rates increased fractional to 4.748, up from last week's average rate of 4.745 percent. Jumbo three-year interest only loans increased to 6.17 percent, up from 5.80 percent the prior week.

Five-year interest only mortgages increased to 4.70 percent, up from the prior week's average interest only loan rate of 4.61 percent. The average rate for a jumbo Five-year interest only mortgage increased to 5.90 percent, up from last week's average rate of 5.71 percent. Seven-year conforming interest only loans increased to 5.25 percent, up from last week's average rate of 5.14 percent. Jumbo seven-year interest only mortgage rates decreased to 6.61 percent, down from the previous week's average rate of 6.65 percent.

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