Home Mortgage Rates Decrease MBA: 30 Year Mortgage Rates at 4.44%, 15 Year Mortgage Rates at 3.88%

Mortgage rates decreased in the latest mortgage survey released this morning. Fixed 30 year mortgage rates and fixed 15 year fixed mortgage rates were lower. 1 year adjustable mortgage rates bucked the downtrend and headed higher in the Mortgage Bankers Association’s (MBA) Weekly Mortgage Survey.

30 year fixed home mortgage rates decreased to 4.44 percent for the week ending September 17, 2010, down from the prior week’s average contract 30 year home mortgage interest rate of 4.47 percent. Average mortgage discount points on 30 year home mortgage loans decreased to 0.81 points, a decrease from last week’s average of 1.08 points.

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.

15 year fixed mortgage interest rates are averaging 3.88 percent for the week ending September 17, 2010, down from the prior week’s average 15 year mortgage interest rate of 3.96 percent. Average mortgage discount points on 15 year home mortgage rates decreased to 0.86 points, down from the previous week’s average of 1.03 points.

1 year adjustable home mortgage loan rates increased to 6.96 percent for the week ending September 17, 2010, an increase from last week’s average 1 year adjustable mortgage interest rate of 6.89 percent. Mortgage discount points on 1 year adjustable home mortgage loans averaged 0.21 points, down from the previous week’s average of 0.23 points.

 
Author: Brian McKay
September 22nd, 2010

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