Mortgage Rates at Lowest Level in 2010: 30 Year Mortgage Rates at 4.84%

mortgage-rates-at-lowest-level-in-2010-30-year-mortgage-rates-at-484Mortgage rates hit a new low for the year in the latest mortgage rate survey released yesterday. 30 year mortgage rates declined to 4.84 percent for the week ending May 20, 2010, down from the prior week's average 30 year mortgage rate of 4.93 percent. Mortgage discount points for 30 year mortgages averaged 0.7 points in the latest Primary Mortgage Market Survey released by Freddie Mac.

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Current fixed 15 year mortgage rates are also lower for the week ending May 20, 2010. Current 15 year mortgage rates are at 4.24 percent with 0.7 mortgage discount points. 15 year mortgage rates declined from the prior week's average mortgage rate of 4.30 percent.

5 year U.S. Treasury indexed adjustable rate mortgages declined to 3.91 percent for the week ending May 20, 2010, down from last week’s average 5 year adjustable mortgage interest rate of 3.95 percent. Mortgage points averaged 0.6 points, unchanged from the prior week's average.

1 year U.S. Treasury indexed adjustable mortgage rates are down to 4.00 percent for the week ending May 20, 2010, a decline from the prior week's average mortgage rate of 4.02 percent. Mortgage points averaged o.6 points, unchanged from last week's average.

 
Author: Brian McKay
May 21st, 2010

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