Fixed Mortgage Rates Jump Higher Following Bond Yields Higher: 30 Year Mortgage Rates at 5.13%, 15 Year Mortgage Rates at 4.29%

Fixed mortgage rates jumped higher in the latest mortgage survey released this morning. Mortgage rates and refinance rates have been heading higher since late in 2010 in all mortgage rate surveys. In the latest Mortgage Application Survey released this morning by the Mortgage Bankers Association, the average contract 30 year mortgage rate is now above 5.00 percent at 5.13 percent. In the previous week's average 30 year mortgage rates averaged 4.81 percent. Average mortgage discount points on 30 year mortgages was 0.84 points, down from the previous week’s average of 1.02 points.

The  average contract 15 year mortgage rate also increased slightly for the week ending February 4, 2011. 15 year mortgage rates averaged 4.29 percent, up from the prior week’s average 15 year rate of 4.13 percent. Mortgage points averaged 1.02 points, an increase from the prior week’s average of 1.01 points.

Higher mortgage rates lead to a drop in mortgage applications for both home purchases and refinances. The MBA's Market Composite Index which is a  measure of mortgage loan application volume, decreased 5.5 percent on a seasonally adjusted basis from one week earlier. The Refinance Index which is a measure of mortgage applications for refinancing decreased 7.7 percent from the previous week.  The seasonally adjusted Purchase Index which is a measure of mortgage applications for purchases decreased 1.4 percent from one week earlier.

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

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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

5.240%

15-Year Fixed

5.125%

$3,012

Includes 0.753 points for $3,012

Lender Fees: $0

$3,190 /mo

Next >

NMLS #2578474

5.413%

15-Year Fixed

5.250%

$4,282

Includes 0.808 points for $3,232

Lender Fees: $1,050

$3,216 /mo

Next >

NMLS #2326098

License: 60DBO-181478

5.418%

15-Year Fixed

5.250%

$4,585

Includes 0.658 points for $2,632

Lender Fees: $1,953

$3,216 /mo

Next >

NMLS #401822

5.478%

15-Year Fixed

5.250%

$6,000

Includes 0.500 points for $2,000

Lender Fees: $4,000

$3,216 /mo

Next >

NMLS #1067

5.478%

15-Year Fixed

5.375%

$2,676

Includes 0.669 points for $2,676

Lender Fees: $0

$3,242 /mo

Next >

NMLS #757416

5.494%

15-Year Fixed

5.375%

$3,112

Includes 0.778 points for $3,112

Lender Fees: $0

$3,242 /mo

Next >

NMLS #1025894

5.515%

15-Year Fixed

5.375%

$3,660

Includes 0.740 points for $2,960

Lender Fees: $700

$3,242 /mo

Next >

NMLS #1835285

6.093%

30-Year Fixed

6.000%

$4,000

Includes 1.000 points for $4,000

Lender Fees: $0

$2,399 /mo

Next >

NMLS #1835285

6.208%

5-Year ARM

6.125%

$3,540

Includes 0.885 points for $3,540

Lender Fees: $0

$2,431 /mo

Next >

NMLS #1067

6.210%

30-Year Fixed

6.125%

$3,628

Includes 0.907 points for $3,628

Lender Fees: $0

$2,431 /mo

Next >

NMLS #2578474

6.325%

30-Year Fixed

6.250%

$3,150

Includes 0.525 points for $2,100

Lender Fees: $1,050

$2,463 /mo

Next >

NMLS #757416

6.332%

30-Year Fixed

6.250%

$3,460

Includes 0.865 points for $3,460

Lender Fees: $0

$2,463 /mo

Next >

NMLS #2326098

License: 60DBO-181478

6.375%

5-Year ARM

6.250%

$5,489

Includes 0.884 points for $3,536

Lender Fees: $1,953

$2,463 /mo

Next >

NMLS #1025894

6.454%

30-Year Fixed

6.375%

$3,336

Includes 0.659 points for $2,636

Lender Fees: $700

$2,496 /mo

Next >

NMLS #2326098

License: 60DBO-181478

6.470%

30-Year Fixed

6.375%

$4,165

Includes 0.553 points for $2,212

Lender Fees: $1,953

$2,496 /mo

Next >

NMLS #401822

6.506%

30-Year Fixed

6.375%

$5,495

Includes 0.875 points for $3,500

Lender Fees: $1,995

$2,496 /mo

Next >

NMLS #3030

6.658%

15-Year Fixed

6.500%

$4,000

Includes 1.000 points for $4,000

Lender Fees: $0

$3,485 /mo

Next >

NMLS #3030

7.338%

30-Year Fixed

7.250%

$3,500

Includes 0.875 points for $3,500

Lender Fees: $0

$2,729 /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.