MBA – Mortgage Rates Increase Slightly, 30 Year Mortgage Rates at 4.69%, 15 Year Mortgage Rates at 4.12%

Average contract mortgage rates increased slightly in the most recent mortgage application survey released today. The average contract 30 year mortgage rate is higher average 4.69 percent for the week ending July 9, 2010 in the latest Weekly Mortgage Application Survey released by Mortgage Bankers Association (MBA). The average contract 30 year mortgage rate is up from last week's average of 4.68 percent. Mortgage rates won't head that much higher this year since the Fed sees slower growth in the 2nd half of 2010. If inflation isn't a concern the Fed won't raise interest rates anytime soon.

Comparing mortgage rates and mortgage refinance rates? Use our rate tables at MortgageRates.MonitorBankRates.com to compare mortgage rates. No personal information is needed for a list of mortgage rates.

The increase in 30 year mortgage rates was the second consecutive week mortgage rates are higher. The good news the increase in the past two weeks has only been 2 basis points, or 0.02 percent. The average mortgage discount point on 30 year mortgages increased to 0.96 points, an increase from the previous week’s average of 0.86 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 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 #78669

5.269%

15-Year Fixed

5.000%

$7,318

Includes 0.725 points for $2,900

Lender Fees: $4,418

$3,164 /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 #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 #401822

5.497%

15-Year Fixed

5.250%

$6,500

Includes 0.625 points for $2,500

Lender Fees: $4,000

$3,216 /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 #78669

5.678%

5-Year ARM

5.500%

$8,098

Includes 0.920 points for $3,680

Lender Fees: $4,418

$2,272 /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 #78669

6.184%

30-Year Fixed

6.000%

$8,106

Includes 0.922 points for $3,688

Lender Fees: $4,418

$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 #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 #399799

6.486%

30-Year Fixed

6.375%

$4,804

Includes 0.869 points for $3,476

Lender Fees: $1,328

$2,496 /mo

Next >

NMLS #401822

6.518%

30-Year Fixed

6.375%

$5,995

Includes 1.000 points for $4,000

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.

15 year mortgage rates are also slightly higher for the week ending July 9, 2010. The average contract 15 year mortgage interest rate is up to 4.12 percent, up from the previous week’s average 15 year mortgage rate of 4.11 percent. The second consecutive increase for 15 year mortgage rates. Mortgage discount points averaged 1.04 points on 15 year mortgages, up from last week’s average of 0.93 points.

1 year adjustable mortgage rates remained unchanged for the week ending July 9, 2010. The average 1 year contract adjustable mortgage rate is at 7.20 percent, unchanged prior week’s average 1 year mortgage rate of 7.05 percent. Average mortgage points on 1 year adjustable mortgage rates decreased to 0.22 points from 0.24 points.