Mortgage Rates Mixed in Latest Mortgage Survey: 15 Year Mortgage Rates Highest Since April 2010

Mortgage rates are mixed in the latest mortgage survey released this morning by the Mortgage Bankers Association (MBA). In the Weekly Mortgage Application Survey 30 year mortgage rates decreased and 15 year mortgage rates increased.  The average 30 year mortgage rate stayed above 5.00 percent for the second consecutive week. The average contract mortgage rate on 30 year mortgages is 5.12 percent for the week ending February 11, 2011, a slight decrease from the previous week's average of 5.13 percent. Average mortgage discount points increased to 0.85 percent, up from the prior week's average of 0.84 percent.

The  average contract 15 year mortgage rate increased to 4.34 percent for the week ending February 11, 2011, an increase from the prior week's average contract 15 year mortgage rate of 4.29 percent. This is the highest point for 15 year mortgage rates since April 2010. Mortgage points averaged 0.85 points, down from the prior week’s average of 1.02 points.