Mortgage Rates Higher in Mortgage Survey: 30 Year Mortgage Rates Averaging 4.92%

Mortgage rates are higher in this week's mortgage survey released this morning. In the Weekly Mortgage Application Survey released by the Mortgage Bankers Association 30 year mortgage rates are averaging 4.92 percent for the week ending March 25, 2011. 30 year mortgage rates increased from 4.80 percent in the prior week's mortgage survey.

15 year mortgage rates averaged 4.16 percent for the week ending March 25, 2011. 15 year mortgage rates are up from the previous week's survey of 4.02 percent.

Higher mortgage rates led to a decrease in mortgage applications in this week's survey. The Market Composite Index, which is a measure of mortgage loan application volume, decreased 7.5 percent on a seasonally adjusted basis from the prior week.

Loan Term
Lender
APR / Rate
Fees / Points
Payment
Pure Rate Mortgage
NMLS #2578474
5.389%
15-Year Fixed
5.250%
$3,650
Includes 0.650 points for $2,600
Lender Fees: $1,050
$3,216 /mo
Tomo Mortgage, LLC.
NMLS #2059741
5.510%
15-Year Fixed
5.375%
$3,520
Includes 0.880 points for $3,520
Lender Fees: $0
$3,242 /mo
Mutual of Omaha Mortgage, Inc.
NMLS #1025894
5.632%
15-Year Fixed
5.490%
$3,688
Includes 0.747 points for $2,988
Lender Fees: $700
$3,267 /mo
New American Funding, LLC.
NMLS #6606
5.767%
15-Year Fixed
5.625%
$3,696
Includes 0.924 points for $3,696
Lender Fees: $0
$3,295 /mo
Pure Rate Mortgage
NMLS #2578474
6.360%
30-Year Fixed
6.250%
$4,650
Includes 0.900 points for $3,600
Lender Fees: $1,050
$2,463 /mo
Tomo Mortgage, LLC.
NMLS #2059741
6.548%
30-Year Fixed
6.490%
$2,412
Includes 0.603 points for $2,412
Lender Fees: $0
$2,526 /mo
Mutual of Omaha Mortgage, Inc.
NMLS #1025894
6.597%
30-Year Fixed
6.490%
$4,460
Includes 0.940 points for $3,760
Lender Fees: $700
$2,526 /mo
PenFed Credit Union
NMLS #401822
6.758%
30-Year Fixed
6.625%
$5,495
Includes 0.875 points for $3,500
Lender Fees: $1,995
$2,562 /mo
New American Funding, LLC.
NMLS #6606
6.823%
30-Year Fixed
6.740%
$3,392
Includes 0.848 points for $3,392
Lender Fees: $0
$2,592 /mo
PenFed Credit Union
NMLS #401822
7.764%
15-Year Fixed
7.500%
$6,500
Includes 0.625 points for $2,500
Lender Fees: $4,000
$3,709 /mo
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 Refinance indexed decreased more than the Purchase Index.  The Refinance Index,which is a measure of loan application volume for refinances, decreased 10.1 percent from the previous week.  The seasonally adjusted Purchase Index, which measures applications for home purchases, decreased 1.7 percent from one week earlier.

 
Author: Brian McKay
March 30th, 2011

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