Mortgage Rates March 10, 2011: 30 Year Mortgage Rates at 4.88%, 15 Year Mortgage Rates at 4.15%

Mortgage rates are mixed in the latest mortgage rate survey released this morning. In the most recent Primary Mortgage Market Survey released by Freddie Mac,  fixed conforming 30 year mortgage rates are averaging 4.88 percent with 0.7 mortgage discount points for the week ending March 10, 2011, a slight increase from the previous week’s average of 4.87 percent with 0.7 points.

Fixed conforming 15 year mortgage rates are unchanged for the week ending March 10, 2011. Current 15 year mortgage rates are averaging 4.15 percent with 0.7 mortgage discount points.

5 year U.S. Treasury-indexed adjustable mortgage rates averaged 3.73 percent for the week ending March 10, 2011, a slight increase from the previous week’s average 5 year adjustable home mortgage rate of 3.72 percent. Average mortgage discount points on 5 year adjustable mortgages were 0.6 points, unchanged from the prior week’s average.

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.

1 year Treasury indexed adjustable rates averaged 3.21 percent for the week ending March 10, 2011, down from the prior week’s average 1 year adjustable home mortgage rate of 3.23 percent. Average mortgage points on 1 year adjustable home loans were 0.5 points, down from the prior week's average of 0.6 points.

 
Author: Brian McKay
March 10th, 2011

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