Mortgage Rates

Mortgage rates are mixed the past week. 30-year mortgage rates and 15-year mortgage have remained steady, while adjustable rate mortgages have come down the past week.

30-year Jumbo mortgages and 15-year jumbo mortgage have also come down, but the rate difference between fixed rate jumbo mortgages and fixed rate conforming mortgages are still higher than the historical norm. If you are in the market for a jumbo mortgage a better option right now would be an adjustable rate mortgage.

The annual percentage rate on a 5-year adjustable rate mortgage was 4.215 percent this past week, while 30-year fixed jumbo mortgage rates were almost two percentage points higher at 6.16 percent.

Loan Term
Lender
APR / Rate
Fees / Points
Payment
Home Simply
NMLS #2473786
5.045%
15-Year Fixed
4.875%
$4,523
Includes 0.857 points for $3,428
Lender Fees: $1,095
$3,138 /mo
LifeStone Mortgage
NMLS #1085173
5.056%
15-Year Fixed
4.875%
$4,870
Includes 0.875 points for $3,500
Lender Fees: $1,370
$3,138 /mo
Tomo Mortgage, LLC.
NMLS #2059741
5.117%
15-Year Fixed
4.990%
$3,360
Includes 0.840 points for $3,360
Lender Fees: $0
$3,162 /mo
Bison State Bank
NMLS #757416
5.141%
15-Year Fixed
4.990%
$3,988
Includes 0.997 points for $3,988
Lender Fees: $0
$3,162 /mo
Different Mortgage
NMLS #324599
License: 324599
5.239%
15-Year Fixed
5.125%
$3,070
Includes 0.500 points for $2,000
Lender Fees: $1,070
$3,190 /mo
Zoom Loans
NMLS #1312186
5.365%
15-Year Fixed
5.250%
$3,000
Includes 0.750 points for $3,000
Lender Fees: $0
$3,216 /mo
New American Funding, LLC.
NMLS #6606
5.392%
15-Year Fixed
5.240%
$3,992
Includes 0.998 points for $3,992
Lender Fees: $0
$3,214 /mo
Blue Sky Financial, LLC
NMLS #1954591
License: 60DBO-113383
5.394%
15-Year Fixed
5.250%
$3,835
Includes 0.682 points for $2,728
Lender Fees: $1,107
$3,216 /mo
Home Simply
NMLS #2473786
5.466%
5-Year ARM
5.375%
$4,067
Includes 0.743 points for $2,972
Lender Fees: $1,095
$2,240 /mo
Mutual of Omaha Mortgage, Inc.
NMLS #1025894
5.503%
15-Year Fixed
5.375%
$3,348
Includes 0.662 points for $2,648
Lender Fees: $700
$3,242 /mo
LifeStone Mortgage
NMLS #1085173
5.866%
5-Year ARM
5.750%
$5,146
Includes 0.944 points for $3,776
Lender Fees: $1,370
$2,335 /mo
Home Simply
NMLS #2473786
5.947%
30-Year Fixed
5.875%
$3,135
Includes 0.510 points for $2,040
Lender Fees: $1,095
$2,367 /mo
Bison State Bank
NMLS #757416
5.954%
30-Year Fixed
5.875%
$3,436
Includes 0.859 points for $3,436
Lender Fees: $0
$2,367 /mo
Tomo Mortgage, LLC.
NMLS #2059741
5.955%
30-Year Fixed
5.875%
$3,476
Includes 0.869 points for $3,476
Lender Fees: $0
$2,367 /mo
LifeStone Mortgage
NMLS #1085173
5.963%
30-Year Fixed
5.875%
$3,870
Includes 0.625 points for $2,500
Lender Fees: $1,370
$2,367 /mo
Zoom Loans
NMLS #1312186
5.964%
5-Year ARM
5.875%
$3,876
Includes 0.969 points for $3,876
Lender Fees: $0
$2,367 /mo
Different Mortgage
NMLS #324599
License: 324599
5.990%
30-Year Fixed
5.875%
$5,070
Includes 1.000 points for $4,000
Lender Fees: $1,070
$2,367 /mo
Blue Sky Financial, LLC
NMLS #1954591
License: 60DBO-113383
6.094%
5-Year ARM
5.990%
$4,543
Includes 0.859 points for $3,436
Lender Fees: $1,107
$2,396 /mo
Different Mortgage
NMLS #324599
License: 324599
6.104%
5-Year ARM
5.990%
$5,006
Includes 0.984 points for $3,936
Lender Fees: $1,070
$2,396 /mo
Mutual of Omaha Mortgage, Inc.
NMLS #1025894
6.200%
30-Year Fixed
6.125%
$3,196
Includes 0.624 points for $2,496
Lender Fees: $700
$2,431 /mo
Zoom Loans
NMLS #1312186
6.207%
30-Year Fixed
6.125%
$3,500
Includes 0.875 points for $3,500
Lender Fees: $0
$2,431 /mo
Blue Sky Financial, LLC
NMLS #1954591
License: 60DBO-113383
6.207%
30-Year Fixed
6.125%
$3,567
Includes 0.615 points for $2,460
Lender Fees: $1,107
$2,431 /mo
HSBC Bank USA, N.A.
NMLS #399799
6.213%
30-Year Fixed
6.125%
$3,900
Includes 0.643 points for $2,572
Lender Fees: $1,328
$2,431 /mo
New American Funding, LLC.
NMLS #6606
6.329%
30-Year Fixed
6.240%
$3,768
Includes 0.942 points for $3,768
Lender Fees: $0
$2,461 /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.

Rates on a home equity line of credit is still under 5 percent, at 4.685 percent, a lot better rate than a 10-year fixed rate home equity loan which currently has a rate of 7.678 percent and a 15-year fixed rate home equity loan currently has a rate of 7.804 percent.

Here is a list of national average mortgage rates.

Description Rate APR
Home Equity Line of Credit 4.685%  
Home Equity Loan - 10 Years 7.678%  
Home Equity Loan - 15 Years 7.804%  
15 Year Fixed Conforming 4.586% 4.722%
15 Year fixed Jumbo 5.914% 6.029%
30 Year Fixed Conforming 4.888% 4.968%
30 Year Fixed Jumbo 6.092% 6.160%
1 Year ARM Conforming 4.905% 3.925%
1 Year ARM Jumbo 5.705% 4.032%
3/1 Year ARM Conforming 5.063% 4.208%
3/1 Year ARM Jumbo 5.492% 4.254%
5/1 Year ARM Conforming 4.574% 4.215%
5/1 Year ARM Jumbo 5.394% 4.447%
7/1 Year ARM Conforming 5.029% 4.455%
7/1 Year ARM Jumbo 6.170% 4.870%
10/1 Year ARM Conforming 5.179% 4.698%
10/1 Year ARM Jumbo 6.250% 5.231%
Interest Only: 3/1 Year ARM Conforming 5.230% 4.316%
Interest Only: 3/1 Year ARM Jumbo 5.579% 4.420%
Interest Only: 5/1 Year ARM Conforming 4.722% 4.330%
Interest Only: 5/1 Year ARM Jumbo 5.733% 4.614%
Interest Only: 7/1 Year ARM Conforming 5.297% 4.606%
Interest Only: 7/1 Year ARM Jumbo 6.412% 5.041%

 
Author: Brian McKay
May 2nd, 2009

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