Mortgage Rates Increase: 30 Year Mortgage Rates at 5.08%

Mortgage rates increased in the latest mortgage survey released this morning. According to the most recent Weekly Applications Survey released by the Mortgage Bankers Association, the average contract 30 year mortgage rate increased to 5.08 percent for the week ending April 23, 2010, up from the prior week's average contract mortgage rate of 5.04 percent. Mortgage discount points averaged 0.91 points, down from the previous week's average of 0.98 percent.

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

The average 15 year contract mortgage rate increased to 4.38 percent for the week ending April 23, 2010, up from last week's average of 4.34 percent. Mortgage points decreased to 0.93 points, down from the previous week's average of 0.98 points.

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 #1981224

4.924%

15-Year Fixed

4.625%

$8,000

Includes 1.000 points for $4,000

Lender Fees: $4,000

$3,086 /mo

Next >

NMLS #1283930

License: 01970483

5.445%

15-Year Fixed

5.250%

$5,125

Includes 1.000 points for $4,000

Lender Fees: $1,125

$3,216 /mo

Next >

NMLS #1838

5.455%

15-Year Fixed

5.250%

$5,395

Includes 0.974 points for $3,896

Lender Fees: $1,499

$3,216 /mo

Next >

NMLS #1025894

5.548%

15-Year Fixed

5.375%

$4,512

Includes 0.953 points for $3,812

Lender Fees: $700

$3,242 /mo

Next >

NMLS #1981224

5.921%

30-Year Fixed

5.750%

$7,500

Includes 0.875 points for $3,500

Lender Fees: $4,000

$2,335 /mo

Next >

NMLS #401822

6.039%

15-Year Fixed

5.750%

$7,500

Includes 0.875 points for $3,500

Lender Fees: $4,000

$3,322 /mo

Next >

NMLS #3030

6.146%

15-Year Fixed

5.990%

$4,000

Includes 1.000 points for $4,000

Lender Fees: $0

$3,374 /mo

Next >

NMLS #1838

6.231%

30-Year Fixed

6.125%

$4,535

Includes 0.759 points for $3,036

Lender Fees: $1,499

$2,431 /mo

Next >

NMLS #401822

6.289%

30-Year Fixed

6.125%

$7,000

Includes 0.750 points for $3,000

Lender Fees: $4,000

$2,431 /mo

Next >

NMLS #1283930

License: 01970483

6.347%

30-Year Fixed

6.250%

$4,125

Includes 0.750 points for $3,000

Lender Fees: $1,125

$2,463 /mo

Next >

NMLS #1025894

6.477%

30-Year Fixed

6.375%

$4,284

Includes 0.896 points for $3,584

Lender Fees: $700

$2,496 /mo

Next >

NMLS #1981224

6.533%

5-Year ARM

6.375%

$6,740

Includes 0.915 points for $3,660

Lender Fees: $3,080

$2,496 /mo

Next >

NMLS #3030

6.949%

30-Year Fixed

6.875%

$3,000

Includes 0.750 points for $3,000

Lender Fees: $0

$2,628 /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.

1 year adjustable mortgage rates increased to 7.03 percent for the week ending April 23, 2010, an increase from the prior week's average mortgage rate of 6.95 percent. Mortgage points averaged 0.30 points, up from the prior week's average of 0.28 points.

Higher mortgage rates dampened mortgage applications for refinancing existing mortgages while the First Time Home Buyer Tax Credit contributed to an increase in applications for home purchases.

The seasonally adjusted Purchase Index increased 7.4 percent from one week earlier and the Refinance Index decreased 8.8 percent from the previous week.

For a more in-depth mortgage survey, read MBR’s most recent Mortgage Rate Survey released earlier this week:

Mortgage rates declined again this week over last, continuing the down trend of the past several weeks. Fixed conforming 30 year mortgage rates are currently averaging 5.07 percent this week, a decrease from the previous week’s average 30 year mortgage rate of 5.14. Low mortgage rates and The First Time Home-Buyer Tax Credit propelled new home sales up 27 percent in March according to the Commerce Department.

Conforming fixed 15 year mortgage rates are also lower this week. 15 year mortgage interest rates are averaging 4.41 percent, down from the prior week’s 15 year mortgage rate of 4.58 percent. 15 year mortgage rates have declined three consecutive weeks.

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

Current Mortgage Rates

Current Jumbo Mortgage Rates

30 year jumbo bank mortgage rates are averaging  5.54 percent this week, a decline from the previous week’s average jumbo loan rate of 5.65 percent. Current jumbo refinance rates are also averaging 5.54 percent this week.

15 year jumbo mortgage rates are averaging 5.03 percent this week, down from last week’s average jumbo rate of  5.13. 15 year jumbo refinance rates are also averaging 5.03 percent this week.

Current Adjustable Mortgage Rates

1 year conforming adjustable mortgage rates are averaging 4.67 percent this week, unchanged from last week’s average 1 year home loan rate of 4.67 percent. 1 year mortgage refinance rates are also averaging 4.67 percent this week.

The average 3 year conforming adjustable mortgage rate is at 4.59 percent this week, an increase from the prior week’s average home mortgage rate of 4.52 percent. 3 year refinance rates are also averaging 4.59 percent this week.

5 year conforming adjustable mortgage interest rates are averaging 3.82 percent this week, a decrease from last week’s average home loan rate of 3.91 percent. 5 year mortgage refinance are also averaging 3.82 percent this week.

7 year conforming ARMs are averaging 4.39 percent this week, a decrease from last week’s average 7 year loan interest rate of 4.42 percent. 7 year mortgage refinance rates are also averaging 4.39 percent.

Conforming 10 year adjustable mortgage rates are averaging 4.67 percent this week, a decrease from last week’s average mortgage interest rate of 4.79 percent. 10 year home loan refinance rates are also averaging 4.67 percent this week.

Jumbo Adjustable Mortgage Rates

1 year jumbo ARMs are averaging in at 5.59 percent this week, unchanged from last week’s average mortgage interest rate.

The average 3 year jumbo ARM is at 5.13 percent this week, down from the prior week’s average home loan rate of 5.34 percent. 3 year home refinance rates are also lower. Current 3 year jumbo refi rates are averaging 5.13 percent.

The average 5 year jumbo ARM is at 4.54 percent this week, a decrease from last week’s average mortgage rate of 4.59 percent. Today’s 5 year refinance loan rates are averaging 4.54 percent.

7 year jumbo ARMs are averaging 5.47 percent this week, down from last week’s average loan mortgage rate of 5.54 percent. 7 year loan refinance rates are also averaging 5.47 percent this week.

10 year jumbo mortgage interest rates are averaging 5.98 percent this week, down from from last week’s average 10 year jumbo rate of 6.01 percent. 10 year jumbo refinance loan rates are also averaging 5.98 percent.

Interest Only Mortgage Rates

The average conforming 3 year interest only mortgage rate is at 4.68 percent this week, up from the previous week’s average mortgage interest rate of 4.61 percent.

The average 5 year interest only home loan is at 3.88 percent this week, down from last week’s average five year interest only mortgage rate of 3.97 percent.

7 year IO home loans are averaging 4.51 percent this week, down from last week’s average interest rate of 4.56 percent.

3 year jumbo IO loans are averaging 5.65 percent this week, down from last week’s jumbo interest mortgage rate of 5.90 percent.

The average 5 year jumbo IO loan rate is at 5.20 percent, down from the prior week’s average IO mortgage rate of 5.26 percent.

The average 7 year jumbo IO loan is at 6.03 percent, down from the prior week’s average jumbo 7 year rate of 6.09 percent.

Home Equity Loan Rates

10 year home equity loan rates are averaging 7.298 percent this week, down from last week’s average equity home loan rate of 7.440. 15 year home equity rates averaged 7.613 percent, down from last week’s average home equity rate of 7.620 percent.

Home Equity Line of Credit Rates (HELOC)

Average home equity line of credit rates are at 4.806 percent this week, up from the prior week’s average HELOC rate of 4.675 percent.