Mortgage Rates at Lowest Level Ever Recorded MBA: 30 Year Mortgage Rates at 4.57%, 15 Year Mortgage Rates at 3.95%

Mortgage rates decreased to the lowest level ever recorded in the latest Mortgage Applications Survey. Both 30 year mortgage rates and 15 year mortgage rates made record lows. Although mortgage rates hit record lows mortgage loan application volume was flat according to the Mortgage Bankers Association.

Mortgage rates will hit news lows in next week's application survey since bond yields tumbled yesterday on the Feds comments about the economy slowing down. 30 year mortgage rates will probably go under 4.50 percent in next week's mortgage survey.

The Fed also announced they will continue to hold interest rates low for an extended period and start buying longer-term government debt with proceeds maturing from it's mortgage bond holdings.

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

Show Advertiser Disclosure

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 #1661781

5.760%

15-Year Fixed

5.625%

$3,673

Includes 0.625 points for $2,500

Lender Fees: $1,173

$3,295 /mo

Next >

NMLS #757416

5.868%

15-Year Fixed

5.750%

$3,060

Includes 0.765 points for $3,060

Lender Fees: $0

$3,322 /mo

Next >

NMLS #1025894

5.886%

15-Year Fixed

5.750%

$3,512

Includes 0.703 points for $2,812

Lender Fees: $700

$3,322 /mo

Next >

NMLS #1067

5.891%

15-Year Fixed

5.750%

$3,652

Includes 0.913 points for $3,652

Lender Fees: $0

$3,322 /mo

Next >

NMLS #3030

6.532%

15-Year Fixed

6.375%

$4,000

Includes 1.000 points for $4,000

Lender Fees: $0

$3,458 /mo

Next >

NMLS #1661781

6.620%

30-Year Fixed

6.500%

$5,173

Includes 1.000 points for $4,000

Lender Fees: $1,173

$2,529 /mo

Next >

NMLS #1025894

6.735%

30-Year Fixed

6.625%

$4,564

Includes 0.966 points for $3,864

Lender Fees: $700

$2,562 /mo

Next >

NMLS #757416

6.822%

30-Year Fixed

6.750%

$2,968

Includes 0.742 points for $2,968

Lender Fees: $0

$2,595 /mo

Next >

NMLS #1067

6.838%

30-Year Fixed

6.750%

$3,620

Includes 0.905 points for $3,620

Lender Fees: $0

$2,595 /mo

Next >

NMLS #1661781

7.244%

5-Year ARM

7.125%

$4,977

Includes 0.951 points for $3,804

Lender Fees: $1,173

$2,695 /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.

30 year mortgage rates declined to 4.57 percent for the week ending August 6, 2010, down from the previous week's average contract 30 year mortgage rate of 4.60 percent. Mortgage discount points averaged 0.89 points, down from the prior week's average of 0.93 percent.

The average contract mortgage rate on 15 year mortgages was 3.95 percent for the week ending August 6, 2010, down from the prior week's average 15 year mortgage rate of 4.03 percent. Mortgage discount points on 15 year home loans increased to 1.08 points, up from the previous week's average of 1.01 points.

1 year adjustable mortgage rates were also lower for the week ending August 6, 2010. The average contract adjustable mortgage rate on 1 year adjustable mortgages decreased to 7.00 percent, down from the previous week's average 1 year adjustable rate mortgages averaged 7.10 percent. Mortgage discount points averaged 0.22 points, an increase from previous week’s average of 0.21 points.

You can search and compare mortgage rates in California or any other state by using the mortgage rate tables on MonitorBankRates.com. We also offer free mortgage rate widgets and a mortgage calculator. The mortgage rate widgets are available for both national average mortgage rates and state average mortgage rates for all states.