Mortgage Rates Decrease: 30 Year Mortgage Rates at 4.97%

Mortgage rates were down in the latest mortgage survey released yesterday. 30 year fixed mortgage rates are back under 5.00 percent at 4.97 percent for the week ending March 4, 2010. Last week 30 year mortgage rates were averaging 5.05 percent. Average mortgage discount points were unchanged at 0.7 points.

Looking for mortgage rates? Find current mortgage rates  by using our mortgage rate tables: Current Mortgage Rates.

The average 15 year fixed mortgage rate was down to 4.33 percent for the week ending March 4, 2010, down from last week’s average mortgage rate of 4.40 percent. Mortgage discount points averaged 0.7 points, unchanged from the prior week.

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 #1835285

5.353%

15-Year Fixed

5.125%

$6,000

Includes 1.000 points for $4,000

Lender Fees: $2,000

$3,190 /mo

Next >

NMLS #2273319

5.428%

15-Year Fixed

5.125%

$7,995

Includes 0.750 points for $3,000

Lender Fees: $4,995

$3,190 /mo

Next >

NMLS #401822

5.554%

15-Year Fixed

5.250%

$8,000

Includes 1.000 points for $4,000

Lender Fees: $4,000

$3,216 /mo

Next >

NMLS #1025894

5.634%

15-Year Fixed

5.490%

$3,760

Includes 0.765 points for $3,060

Lender Fees: $700

$3,267 /mo

Next >

NMLS #6606

5.884%

15-Year Fixed

5.740%

$3,732

Includes 0.933 points for $3,732

Lender Fees: $0

$3,320 /mo

Next >

NMLS #1835285

6.266%

30-Year Fixed

6.125%

$6,000

Includes 1.000 points for $4,000

Lender Fees: $2,000

$2,431 /mo

Next >

NMLS #2273319

6.312%

30-Year Fixed

6.125%

$7,995

Includes 0.750 points for $3,000

Lender Fees: $4,995

$2,431 /mo

Next >

NMLS #2273319

6.315%

5-Year ARM

6.125%

$8,131

Includes 0.784 points for $3,136

Lender Fees: $4,995

$2,431 /mo

Next >

NMLS #1835285

6.371%

5-Year ARM

6.250%

$5,112

Includes 0.778 points for $3,112

Lender Fees: $2,000

$2,463 /mo

Next >

NMLS #1025894

6.582%

30-Year Fixed

6.490%

$3,856

Includes 0.789 points for $3,156

Lender Fees: $700

$2,526 /mo

Next >

NMLS #6606

6.715%

30-Year Fixed

6.625%

$3,708

Includes 0.927 points for $3,708

Lender Fees: $0

$2,562 /mo

Next >

NMLS #401822

6.746%

30-Year Fixed

6.625%

$4,995

Includes 0.750 points for $3,000

Lender Fees: $1,995

$2,562 /mo

Next >

NMLS #3030

6.784%

15-Year Fixed

6.625%

$4,000

Includes 1.000 points for $4,000

Lender Fees: $0

$3,512 /mo

Next >

NMLS #3030

7.476%

30-Year Fixed

7.375%

$4,000

Includes 1.000 points for $4,000

Lender Fees: $0

$2,763 /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.

5 year Treasury indexed adjustable mortgage rates were also down this week over last week. 5 year adjustable rate mortgages averaged 4.11 percent, down from the previous week’s average mortgage rate of 4.16 percent. Average discount points were unchanged at 0.6 points.

The average 1 year adjustable mortgage rate was higher this week over last. 1 year U.S. Treasury indexed adjustable mortgage rates averaged 4.27 percent this week, up from last week’s average adjustable mortgage interest rate of 4.15 percent. Mortgage points were unchanged at 0.6 points.

For a more extensive report on current mortgage interest rates, MonitorBankRates.com released its Weekly Mortgage Rate Report on Monday, which follows:

Mortgage Rates

The average conforming 30 year mortgage rate is unchanged this week at 5.07 percent. This is the second consecutive week 30 year rates are above 5.00 percent.

The average 15 year conforming home loan rate is 4.39 percent this week, down from last week’s average mortgage rate of 4.43 percent. 15 year conforming refinance rates were also lower this week and the average refinance rate is 4.39 percent.

Jumbo Mortgage Interest Rates

The average fixed 30 year mortgage interest rate is at 5.76% this week, down from the previous week’s average home loan rate of 5.82%. Jumbo refinance rates are also down this week with the average rate at 5.76 percent.

15 year jumbo interest mortgage rates are averaging 5.13% this week, up from the prior week’s average jumbo loan mortgage rate of 5.10%. 15 year jumbo mortgage refinance rates are also averaging 5.13% this week.

Adjustable Rate Mortgages

The average conforming 1 year adjustable rate mortgage is at 4.67% this week, an increase from last week’s average 1 year home loan interest rate of 4.26%. One year refinance rates are also averaging 4.67% this week.

The average conforming 3 year adjustable mortgage interest rate is at 4.63% this week, an increase from the previous week when 3 year mortgage interest rates were averaging 4.61%.

5 year conforming ARMs are averaging 4.01% this week, down from last week’s average home loan rate of 4.05%.  The average 5 year mortgage refinance is also at 4.01% this week.

7 year conforming ARMs are averaging 4.50%, down from the prior week’s average mortgage loan rate of 4.59%. The average conforming 7 year mortgage refinance rate is also averaging at 4.59% this week.

10 year adjustable bank mortgage rates are averaging 4.80%, a decrease from last week’s average mortgage interest rate of 4.83%. 10 year home loan refinance rates are also at 4.83%.

Jumbo Adjustable Rate Mortgages

The average 1 year jumbo ARM is averaging 5.59% this week, unchanged from last week’s average home loan interest rate. 1 year home refinance rates are also averaging 5.59%.

Jumbo 3-year jumbo ARMs are at 5.36% this week, down slightly from the previous week’s average home loan rate of 5.37%. The average 3 year home refinance rate was also down to 5.36%.

The average 5 year jumbo ARM is at 4.70% this week, up from the previous week’s average mortgage rate of 4.69%. The average 5 year refinance loan is also at 4.70 percent this week.

7 year jumbo ARMs are averaging 5.75% this week, up from last week’s average loan mortgage rate of 5.61%. 7 year loan refinance rates are also averaging 5.75%, up from the prior week’s average refinance rate.

10 year jumbo mortgage rates are averaging 5.96% this week, an increase from last week’s average 10 year rate of 5.92 percent. 10 year jumbo refinance loan rates are also higher this week, the average rate is 5.96 percent.

Interest Only Conforming Loans

The average 3 year interest only mortgage rate is at 4.89% this week, up from the prior week’s average mortgage interest rate of 4.84%. 3 year conforming IO home loan refinance rates are also at 4.89%.

5 year interest only home loans are averaging 4.18% this week, a decrease from last week’s average five year home interest only mortgage rate of 4.20%. 5 year home mortgage refinance rates are averaging 4.15% this week.

7 year IO home loans are averaging 4.68% this week, down from last week’s average interest rate of 4.77%.  The average 7 year IO refinance home loan rate is also at 4.68% this week.

Jumbo IO Loans

3 year jumbo IO loans are averaging 5.71% this week, down from last week’s jumbo interest mortgage rate of 5.73%. 3 year jumbo refinance interest rates are averaging 5.70%.

The average 5 year jumbo IO loan rate is at 5.39%, up from the prior week’s average IO mortgage rate of 5.35%. 5 year jumbo IO refinance interest rates are averaging 5.39% this week.

7 year jumbo IO loans are averaging 6.21%, unchanged from the previous week’s average jumbo 7 year rate.

Home Equity Loan Rates

The average home equity loan rate was down this week over last. 10 year home equity loan rates are at 7.447% this week, down from last week’s average equity home loan rate of 7.475%. 15 year home equity rates decreased slightly to 7.707%, down from last week’s average home equity rate of 7.735%.

Home Equity Line of Credit Rates (HELOC)

Average home equity line of credit rate was unchanged this week over last. The average HELOC rate is at 4.899%.

Current mortgage rates and refinance rates can be found in your state by searching our interest rate tables: Mortgage Rates & Refinance Rates