Mortgage Rates Higher: 30 Year Mortgage Rates Back Above 5.00%

Mortgage rates are back above 5.00 percent in this morning's mortgage application survey. 30 year mortgage rates have been seesawing above and below 5.00 percent for over a month. The average contract 30 year mortgage rate is at 5.01 percent for the week ending March 5, 2010 according to the Mortgage Bankers Association's Weekly Mortgage Applications Survey. Mortgage discount points averaged 0.82 points.

Looking for refinance rates? Search our mortgage rate tables: MortgageRates.MonitorBankRates.com.

The average contract 15 year mortgage rate increased to 4.32 percent for the week ending March 5, 2010, up from the prior week’s average 15 year mortgage rate of 4.27 percent. Average mortgage discount points decreased to 0.88 points from 1.36 points the previous 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

5.478%

15-Year Fixed

5.250%

$6,000

Includes 1.000 points for $4,000

Lender Fees: $2,000

$3,216 /mo

Next >

NMLS #401822

5.642%

15-Year Fixed

5.375%

$7,000

Includes 0.750 points for $3,000

Lender Fees: $4,000

$3,242 /mo

Next >

NMLS #1025894

5.667%

15-Year Fixed

5.490%

$4,612

Includes 0.978 points for $3,912

Lender Fees: $700

$3,267 /mo

Next >

NMLS #2059741

5.751%

15-Year Fixed

5.625%

$3,272

Includes 0.818 points for $3,272

Lender Fees: $0

$3,295 /mo

Next >

NMLS #6606

5.890%

15-Year Fixed

5.740%

$3,876

Includes 0.969 points for $3,876

Lender Fees: $0

$3,320 /mo

Next >

NMLS #1835285

6.368%

30-Year Fixed

6.250%

$5,000

Includes 0.750 points for $3,000

Lender Fees: $2,000

$2,463 /mo

Next >

NMLS #1835285

6.377%

5-Year ARM

6.250%

$5,368

Includes 0.842 points for $3,368

Lender Fees: $2,000

$2,463 /mo

Next >

NMLS #2059741

6.583%

30-Year Fixed

6.490%

$3,896

Includes 0.974 points for $3,896

Lender Fees: $0

$2,526 /mo

Next >

NMLS #1025894

6.713%

30-Year Fixed

6.625%

$3,656

Includes 0.739 points for $2,956

Lender Fees: $700

$2,562 /mo

Next >

NMLS #401822

6.770%

30-Year Fixed

6.625%

$5,995

Includes 1.000 points for $4,000

Lender Fees: $1,995

$2,562 /mo

Next >

NMLS #6606

6.834%

30-Year Fixed

6.740%

$3,888

Includes 0.972 points for $3,888

Lender Fees: $0

$2,592 /mo

Next >

NMLS #3030

6.909%

15-Year Fixed

6.750%

$4,000

Includes 1.000 points for $4,000

Lender Fees: $0

$3,540 /mo

Next >

NMLS #3030

7.602%

30-Year Fixed

7.500%

$4,000

Includes 1.000 points for $4,000

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 contract rate 1 year adjustable mortgages increased to 6.80 percent, up from the previous week’s average of 6.77 percent. Average mortgage points increased to 0.30 points from 0.29 points.

Mortgage applications increased for home purchases but decreased for refinances. The Refinance Index, which measures applications for refinancing, decreased 1.5 percent from the previous week. The seasonally adjusted Purchase Index, which measures applications for home purchases, increased 5.7 percent from one week earlier.

Applications for refinancing a mortgage still make up the majority of mortgage applications. The refinancing share of mortgage application activity is 67.2 percent of total mortgage applications.

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

Current Mortgage Rates

The average conforming 30 year mortgage rate is down to 4.95 percent this week, lower than the prior week’s average 30 year interest rate of 5.07 percent.

15 year conforming home loan rates are averaging is 4.398 percent this week, up fractionally from last week’s average mortgage rate of 4.395 percent.

Jumbo Mortgage Rates

30 year mortgage rates are averaging 5.73 percent this week, a decrease from the prior week’s average home loan rate of 5.76 percent. Jumbo refinance rates are also at 5.73 percent this week.

The average 15 year jumbo mortgage interest rate is averaging 5.138 percent this week, up fractionally from last week’s average jumbo loan mortgage rate of 5.131 percent. The average 15 year jumbo mortgage refinance rate is also averaging 5.138 percent this week.

Conforming Adjustable Mortgage Rates

The average conforming 1 year adjustable rate mortgage is at 4.40 percent this week, a decrease from the prior week’s average 1 year home loan rate of 4.67 percent.

3 year conforming adjustable mortgage interest rates are averaging 4.55 percent this week, down from the previous week when 3 year home mortgage interest rates averaged 4.63 percent.

The average 5 year conforming ARM is averaging 3.86 percent this week, down from last week’s average home loan rate of 4.01 percent. The average 5 year mortgage refinance is also under 4.00 percent this week at 3.86 percent.

The average 7 year conforming ARM is at 4.41 percent, a decrease from the prior week’s average mortgage loan rate of 4.50 percent. 7 year mortgage refinance rates are also averaging at 4.41 percent this week.

The average 10 year adjustable bank mortgage rate is at 4.76 percent this week, down from last week’s average mortgage interest rate of 4.80 percent. 10 year home loan refinance rates are also at 4.80 percent this week.

Jumbo Adjustable Mortgage Rates

The average 1 year jumbo ARM is at 5.59 percent this week, unchanged from last week’s average home loan interest rate.

The average 3 year jumbo ARM is at 5.29 percent this week, a decrease from the prior week’s average home loan rate of 5.36 percent. 3 year home refinance rates are down to 5.29 percent this week.

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 5.44 percent this week,  down from last week’s average loan mortgage rate of 5.75 percent. 7 year loan refinance rates are also averaging 5.44 percent, down from the prior week’s average refinance rate.

10 year jumbo mortgage interest rates are averaging 5.86 percent this week, down from last week’s average 10 year rate of 5.96 percent. 10 year jumbo refinance loan rates are also lower this week, the average rate is 5.86 percent.

Interest Only Mortgage Rates

The average 3 year interest only mortgage rate is at 4.79% this week, down from the prior week’s average mortgage interest rate of 4.89%.

The average 5 year interest only home loan is at 3.98% this week, a decrease from last week’s average five year home interest only mortgage rate of 4.18%.

7 year IO home loans are averaging 4.59% this week, down from last week’s average interest rate of 4.68%.  The average 7 year IO refinance home loan rate is also at 4.59% this week.

Jumbo Interest Only Mortgage Rates

3 year jumbo IO loans are averaging 5.63 percent this week, down from last week’s jumbo interest mortgage rate of 5.71 percent. 3 year jumbo refinance interest rates are averaging 5.63 percent.

The average 5 year jumbo IO loan rate is at 5.30 percent, down from the prior week’s average IO mortgage rate of 5.39 percent. 5 year jumbo IO refinance interest rates are averaging 5.30 percent this week.

7 year jumbo IO loans are averaging 5.82 percent, down from the prior week’s average jumbo 7 year rate of 6.21 percent.

Home Equity Loan Rates

The average home equity loan rate was up this week over last. 10 year home equity loan rates are at 7.481 percent this week, up from last week’s average equity home loan rate of 7.447 percent. 15 year home equity rates increased to 7.805 percent, up from last week’s average home equity rate of 7.707 percent.

Home Equity Line of Credit Rates (HELOC)

Average home equity line of credit rate was down to 4.777 percent this week, down from last week’s average HELOC rate of 4.899 percent.

Refinance rates/mortgage rates can be found in your state by searching our interest rate tables: MortgageRates.MonitorBankRates.com.