Current Mortgage Rates Down to 5.08% According to Freddie Mac

Freddie Mac just released it's Primary Mortgage Market Survey that shows current mortgage rates declined this past week. Both long term fixed mortgage rates and shorter term adjustable mortgage rates declined this week over last week.

Looking for mortgage rates? MonitorBankRates.com has mortgage rate tables you can use to find the best mortgage rates in your zip code. Find current mortgage rates here

30-year mortgage rates are currently at 5.08 percent for the week ending today,with an average 0.7 point, down from last week's average mortgage rate of 5.14 percent. MonitorBankRates.com has today's 30-year fixed mortgage rate at 5.13 percent.

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 #2641203

5.492%

15-Year Fixed

5.375%

$3,056

Includes 0.764 points for $3,056

Lender Fees: $0

$3,242 /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 #274058

5.556%

15-Year Fixed

5.375%

$4,746

Includes 0.664 points for $2,656

Lender Fees: $2,090

$3,242 /mo

Next >

NMLS #757416

5.631%

15-Year Fixed

5.500%

$3,404

Includes 0.851 points for $3,404

Lender Fees: $0

$3,269 /mo

Next >

NMLS #1067

5.648%

15-Year Fixed

5.500%

$3,844

Includes 0.961 points for $3,844

Lender Fees: $0

$3,269 /mo

Next >

NMLS #1025894

5.670%

15-Year Fixed

5.490%

$4,684

Includes 0.996 points for $3,984

Lender Fees: $700

$3,267 /mo

Next >

NMLS #181106

License: Licensed

5.741%

15-Year Fixed

5.625%

$2,995

Includes 0.500 points for $2,000

Lender Fees: $995

$3,295 /mo

Next >

NMLS #1701910

5.933%

15-Year Fixed

5.875%

$1,490

Includes 0.000 points for $0

Lender Fees: $1,490

$3,349 /mo

Next >

NMLS #2561451

6.509%

30-Year Fixed

6.375%

$5,703

Includes 0.927 points for $3,708

Lender Fees: $1,995

$2,496 /mo

Next >

NMLS #1067

6.585%

30-Year Fixed

6.490%

$3,964

Includes 0.991 points for $3,964

Lender Fees: $0

$2,526 /mo

Next >

NMLS #2641203

6.682%

30-Year Fixed

6.625%

$2,352

Includes 0.588 points for $2,352

Lender Fees: $0

$2,562 /mo

Next >

NMLS #181106

License: Licensed

6.697%

30-Year Fixed

6.625%

$2,995

Includes 0.500 points for $2,000

Lender Fees: $995

$2,562 /mo

Next >

NMLS #1025894

6.715%

30-Year Fixed

6.625%

$3,716

Includes 0.754 points for $3,016

Lender Fees: $700

$2,562 /mo

Next >

NMLS #757416

6.715%

30-Year Fixed

6.624%

$3,780

Includes 0.945 points for $3,780

Lender Fees: $0

$2,561 /mo

Next >

NMLS #274058

6.742%

30-Year Fixed

6.625%

$4,842

Includes 0.688 points for $2,752

Lender Fees: $2,090

$2,562 /mo

Next >

NMLS #399799

6.749%

30-Year Fixed

6.625%

$5,300

Includes 0.993 points for $3,972

Lender Fees: $1,328

$2,562 /mo

Next >

NMLS #274058

6.750%

5-Year ARM

6.625%

$5,190

Includes 0.775 points for $3,100

Lender Fees: $2,090

$2,562 /mo

Next >

NMLS #401822

6.884%

30-Year Fixed

6.750%

$5,495

Includes 0.875 points for $3,500

Lender Fees: $1,995

$2,595 /mo

Next >

NMLS #3030

6.889%

15-Year Fixed

6.750%

$3,500

Includes 0.875 points for $3,500

Lender Fees: $0

$3,540 /mo

Next >

NMLS #1701910

6.912%

30-Year Fixed

6.875%

$1,490

Includes 0.000 points for $0

Lender Fees: $1,490

$2,628 /mo

Next >

NMLS #3030

7.589%

30-Year Fixed

7.500%

$3,500

Includes 0.875 points for $3,500

Lender Fees: $0

$2,797 /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.

The average 15-year mortgage rate also declined this week, the rate is currently at 4.54 percent for the week ending September 3, 2009. Down from the prior week's average rate of 4.58 percent which an average 0.6 discount point. Last year 15-year mortgage rates were at 5.90 percent. Yesterday, the Mortgage Bankers Association reported in their survey that the average contract rate for a 15-year mortgage was 4.57 percent.

Five-year Treasury-indexed hybrid adjustable mortgage rates averaged 4.59 percent this week, with an average 0.6 point, down from the prior weeks' average rate of 4.67 percent. Monitorbankrates.com has the average 5/1 conforming adjustable rate mortgage at 4.26 percent today.

The average one-year Treasury-indexed adjustable mortgage rate averaged 4.62 percent this week with an average 0.6 point, down from last week when it averaged 4.69 percent. The current average mortgage rate for a one-year ARM is listed at 4.40 percent at Monitorbankrates.com.

Comments from Frank Nothaft, Freddi Mac's vice president and chief economist.

"Bond yields pushed mortgage rates slightly lower this week,” said Frank Nothaft, Freddie Mac vice president and chief economist. “Low mortgage rates are helping to keep housing very affordable. Seven of the top eight most affordable months occurred during this year, according to the National Association of Realtors’® (NAR) Housing Affordability Index, which dates back to 1971. As a result, pending sales of existing homes rose for the sixth straight month in July, a trend not seen since the NAR began reporting data in 2001. Moreover, July’s sales were the strongest since June 2007.

"Overall, inflation remains in check while certain sectors of the economy are experiencing some improvement. The core price index on consumer expenditures, a key indicator tracked by the Federal Reserve, rose 1.4 percent in July from the same time a year earlier and represented the smallest 12-month increase since October 2003. Meanwhile, the manufacturing industry expanded for the first time in 19 months, according to the Institute of Supply Management.