Fixed Home Mortgage Rates Continue to Fall Feddie Mac: 30 Year Mortgage Rates at 4.27%, 15 Year Mortgage Rates at 3.72%

Fixed long term mortgage rates are lower in the most recent Primary Mortgage Market Survey released this morning by Freddie Mac. Fixed conforming 30 year home mortgage rates,  fixed conforming 15 year mortgage rates and 5 year adjustable mortgage rates all made record lows for the week ending October 7, 2010.

30 year fixed conforming home mortgage rates are averaging 4.27 percent for the week ending October 7, 2010, down from the previous week’s average 30 year home mortgage  rate of 4.32 percent. Average mortgage discount points on 30 year home mortgage loans was 0.8 points, unchanged from the prior week’s average.

15 year fixed conforming home mortgage rates are averaging 3.72 percent for the week ending October 7, 2010, down from the prior week’s average 15 year home mortgage rate of 3.75%. Average mortgage discount points on 15 year home loans was 0.7 points, unchanged from the previous week’s average.

Loan Term
Lender
APR / Rate
Fees / Points
Payment
PenFed Credit Union
NMLS #401822
5.157%
15-Year Fixed
4.875%
$7,500
Includes 0.875 points for $3,500
Lender Fees: $4,000
$3,138 /mo
District Lending
NMLS #1835285
5.478%
15-Year Fixed
5.250%
$6,000
Includes 1.000 points for $4,000
Lender Fees: $2,000
$3,216 /mo
Surety Home Loans
NMLS #1981224
5.535%
15-Year Fixed
5.250%
$7,500
Includes 0.875 points for $3,500
Lender Fees: $4,000
$3,216 /mo
Watermark Capital
NMLS #1838
5.917%
15-Year Fixed
5.750%
$4,331
Includes 0.708 points for $2,832
Lender Fees: $1,499
$3,322 /mo
Solidify Mortgage Advisors
NMLS #1283930
License: 01970483
5.933%
15-Year Fixed
5.750%
$4,737
Includes 0.903 points for $3,612
Lender Fees: $1,125
$3,322 /mo
Mutual of Omaha Mortgage, Inc.
NMLS #1025894
6.013%
15-Year Fixed
5.875%
$3,552
Includes 0.713 points for $2,852
Lender Fees: $700
$3,349 /mo
District Lending
NMLS #1835285
6.368%
30-Year Fixed
6.250%
$5,000
Includes 0.750 points for $3,000
Lender Fees: $2,000
$2,463 /mo
Surety Home Loans
NMLS #1981224
6.403%
30-Year Fixed
6.250%
$6,500
Includes 0.625 points for $2,500
Lender Fees: $4,000
$2,463 /mo
Rocket Mortgage
NMLS #3030
6.513%
15-Year Fixed
6.375%
$3,500
Includes 0.875 points for $3,500
Lender Fees: $0
$3,458 /mo
Watermark Capital
NMLS #1838
6.739%
30-Year Fixed
6.625%
$4,719
Includes 0.805 points for $3,220
Lender Fees: $1,499
$2,562 /mo
Solidify Mortgage Advisors
NMLS #1283930
License: 01970483
6.749%
30-Year Fixed
6.625%
$5,125
Includes 1.000 points for $4,000
Lender Fees: $1,125
$2,562 /mo
Surety Home Loans
NMLS #1981224
6.788%
5-Year ARM
6.625%
$6,840
Includes 0.940 points for $3,760
Lender Fees: $3,080
$2,562 /mo
District Lending
NMLS #1835285
6.890%
5-Year ARM
6.750%
$5,756
Includes 0.939 points for $3,756
Lender Fees: $2,000
$2,595 /mo
Mutual of Omaha Mortgage, Inc.
NMLS #1025894
6.958%
30-Year Fixed
6.875%
$3,392
Includes 0.673 points for $2,692
Lender Fees: $700
$2,628 /mo
PenFed Credit Union
NMLS #401822
7.034%
30-Year Fixed
6.875%
$6,500
Includes 0.625 points for $2,500
Lender Fees: $4,000
$2,628 /mo
Rocket Mortgage
NMLS #3030
7.313%
30-Year Fixed
7.250%
$2,500
Includes 0.625 points for $2,500
Lender Fees: $0
$2,729 /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.

5 year Treasury indexed adjustable mortgage rates averaged 3.47 percent for the week ending October 7, 2010, down the previous week’s average 5 year adjustable home mortgage rate of  3.52 percent. Average mortgage discount points on 5 year adjustable home mortgages was unchanged at 0.6 points.

1 year U.S Treasury indexed adjustable home mortgage loan rates averaged 3.40 percent for the week ending October 7, 2010, down from the prior week’s average 1 year adjustable home mortgage rate of 3.48 percent.  Average mortgage points on 1 year adjustable home loans was 0.7 points, unchanged from the prior week’s average.

 
Author: Brian McKay
October 7th, 2010

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