Mortgage Rates – 30-year Fixed Mortgage Rates at 5.14%

mortgage-rates-30-year-fixed-mortgage-rates-at-514Mortgage rates were mixed this past week with longer term 30-year fixed mortgage rates increasing slightly and 5/1 adjustable mortgage rates decreasing. Historically low mortgage interest rates are helping the housing market recover, driving home sales higher and home prices higher in a good part of the U.S.. 15-year fixed mortgage rates were also up slightly this past week.

In addition to the low current mortgage rates helping the real estate market recover, housing prices have come down so much homes are a lot more affordable than they have been in the past several years.

Looking for Mortgage Interest Rates? Find the Best Mortgage Rates in your zip code. Best Mortgage Rates Here

Loan Term
Lender
APR / Rate
Fees / Points
Payment
Equity Capital Home Loans
NMLS #1689962
License: 02053435
5.524%
15-Year Fixed
5.375%
$3,904
Includes 0.976 points for $3,904
Lender Fees: $0
$3,242 /mo
District Lending
NMLS #1835285
5.604%
15-Year Fixed
5.375%
$6,000
Includes 1.000 points for $4,000
Lender Fees: $2,000
$3,242 /mo
New American Funding, LLC.
NMLS #6606
6.132%
15-Year Fixed
5.990%
$3,644
Includes 0.911 points for $3,644
Lender Fees: $0
$3,374 /mo
District Lending
NMLS #1835285
6.482%
30-Year Fixed
6.375%
$4,500
Includes 0.625 points for $2,500
Lender Fees: $2,000
$2,496 /mo
Equity Capital Home Loans
NMLS #1689962
License: 02053435
6.545%
30-Year Fixed
6.490%
$2,296
Includes 0.574 points for $2,296
Lender Fees: $0
$2,526 /mo
New American Funding, LLC.
NMLS #6606
6.833%
30-Year Fixed
6.740%
$3,828
Includes 0.957 points for $3,828
Lender Fees: $0
$2,592 /mo
Rocket Mortgage
NMLS #3030
7.035%
15-Year Fixed
6.875%
$4,000
Includes 1.000 points for $4,000
Lender Fees: $0
$3,568 /mo
District Lending
NMLS #1835285
7.143%
5-Year ARM
7.000%
$5,804
Includes 0.951 points for $3,804
Lender Fees: $2,000
$2,662 /mo
Rocket Mortgage
NMLS #3030
7.200%
30-Year Fixed
7.125%
$3,000
Includes 0.750 points for $3,000
Lender Fees: $0
$2,695 /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.

Today's mortgage rates have pushed existing home sales higher for the fourth consecutive month and new home sales higher, driving the amount of new homes currently for sale down to the lowest amount since March of 1993.

The average rate for a 30-year fixed-rate mortgage was 5.14 percent with an average 0.7 point for the week ending yesterday, higher than last week's average home interest rate of 5.12 percent according to Freddie Mac's Primary Mortgage Market Survey. 3-year conforming mortgage rates haven't changed much in the past two months. A year ago 30-year mortgages averaged 6.40 percent.

15-year fixed rate mortgages averaged 4.58 percent this week with an average 0.7 point, up from the previous week when it averaged 4.56 percent. Exactly a year ago at this time, the 15-year fixed rate conventional mortgages averaged 5.93 percent.

The average rate for a five-year Treasury-indexed hybrid adjustable-rate mortgage is 4.67 percent this week, with an average 0.6 point, a decrease from last week when it averaged 4.57 percent. Last year the average rate for a 5-year ARM was over 6.00 percent at 6.03 percent.

One-year Treasury-indexed adjustable rate mortgages averaged 4.69 percent this week with an average 0.6 point, unchanged from the prior week when it averaged 4.69 percent. At this time last year, the 1-year ARM averaged 5.33 percent.

Freddie Mac's PMMS doesn't include jumbo mortgage rates. MonitorBankRates.com reported on current jumbo mortgage rates earlier this week, here is the report.

The average jumbo mortgage rate for a 30-year jumbo rose slightly this week to 6.14 percent, up from the prior week’s average rate of 6.12 percent. The average 30-year jumbo mortgage rate has also been in a tight range between 6.00 percent and 6.50 percent since May of this year. The average jumbo rate hit a high of 6.64 percent on June 15.

15-year jumbo fixed mortgage rates are down this week to 5.80 percent, down from the previous week’s average jumbo rate of 5.88 percent. The spread between 15-year jumbo mortgage rates and 15-year conforming mortgage rates is still over 1.00 percent, higher than the historical norm.

Looking for CD Rates? MonitorBankRates.com has CD rate tables you can use to find the best CD rates in your area. CD Rate Tables

 
Author: Brian McKay
August 28th, 2009

Explore Other Mortgage and Refinance Offers