Fixed Rate Mortgages Hit All Time Low MBA: 30 Year Mortgage Rates at 4.25%, 15 Year Mortgage Rates at 3.73%

Fixed rate mortgages decreased to an all time low in the latest mortgage survey released this morning. 30 year fixed mortgage rates and 15 year fixed mortgage rates both made record lows in this week’s Weekly Mortgage Survey released by the Mortgage Bankers Association (MBA). 1 year adjustable mortgage interest rates increased for the third consecutive week in the mortgage rate survey.

30 year fixed home mortgage rates are down to 4.25 percent for the week ending October 1, 2010, down from the prior week’s average contract 30 year home mortgage rate of 4.38 percent. Average mortgage discount points on 30 year home mortgage loans decreased to 1.00 points, down from last week’s average of 1.01 points.

15 year fixed home mortgage interest rates are averaging 3.73 percent for the week ending October 1, 2010, a decrease from the previous week’s average 15 year mortgage interest rate of 3.77 percent. Average mortgage discount points on 15 year home mortgage loan rates increased to 1.14 points, up from the previous week’s average of 1.13 points. 

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 MRC'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 #2473786

4.894%

15-Year Fixed

4.750%

$3,839

Includes 0.686 points for $2,744

Lender Fees: $1,095

$3,112 /mo

Next >

NMLS #757416

5.005%

15-Year Fixed

4.875%

$3,436

Includes 0.859 points for $3,436

Lender Fees: $0

$3,138 /mo

Next >

NMLS #1025894

5.011%

15-Year Fixed

4.875%

$3,608

Includes 0.902 points for $3,608

Lender Fees: $0

$3,138 /mo

Next >

NMLS #2473786

5.104%

5-Year ARM

5.000%

$4,755

Includes 0.915 points for $3,660

Lender Fees: $1,095

$2,148 /mo

Next >

NMLS #1928741

5.106%

15-Year Fixed

4.990%

$3,052

Includes 0.763 points for $3,052

Lender Fees: $0

$3,162 /mo

Next >

NMLS #6606

5.398%

15-Year Fixed

5.250%

$3,884

Includes 0.971 points for $3,884

Lender Fees: $0

$3,216 /mo

Next >

NMLS #2473786

5.719%

30-Year Fixed

5.625%

$4,127

Includes 0.758 points for $3,032

Lender Fees: $1,095

$2,303 /mo

Next >

NMLS #757416

5.828%

30-Year Fixed

5.750%

$3,404

Includes 0.851 points for $3,404

Lender Fees: $0

$2,335 /mo

Next >

NMLS #1025894

5.921%

30-Year Fixed

5.875%

$2,004

Includes 0.501 points for $2,004

Lender Fees: $0

$2,367 /mo

Next >

NMLS #1928741

5.923%

30-Year Fixed

5.875%

$2,092

Includes 0.523 points for $2,092

Lender Fees: $0

$2,367 /mo

Next >

NMLS #399799

6.086%

30-Year Fixed

6.000%

$3,831

Includes 0.626 points for $2,504

Lender Fees: $1,327

$2,399 /mo

Next >

NMLS #6606

6.091%

30-Year Fixed

6.000%

$3,904

Includes 0.976 points for $3,904

Lender Fees: $0

$2,399 /mo

Next >

Rate data provided by RateUpdate.com. Displayed by 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.

1 year adjustable home mortgage loan rates increased to 7.11 percent for the week ending October 1, 2010, an increase from last week’s average 1 year adjustable mortgage interest rate of 7.04 percent. Mortgage discount points on 1 year adjustable home mortgage loans averaged 0.24 points, up from the previous week’s average of 0.22 points.