Mortgage Rates Move Higher Says Freddie Mac: 30 Year Mortgage Rates at 4.40%, 15 Year Mortgage Rates at 3.77%

Long term conventional mortgage rates are higher for the second consecutive week in the most recent mortgage rate survey released by Freddie Mac (OTC: FMCC). Conventional fixed 30 year home mortgage rates, fixed conforming 15 year home mortgage rates and 5 year adjustable mortgage rates are all higher in the Primary Mortgage Market Survey for the week ending November 24, 2010. 1 year adjustable mortgage rates were lower for the week ending November 24, 2010.

Fixed conventional 30 year home mortgage rates are averaging 4.40 percent for the week ending November 24, 2010, up from the previous week’s average 30 year home mortgage  rate of 4.39 percent. Average mortgage discount points on 30 year home mortgage loans was 0.8 points, down from the prior week’s survey of 0.9 points.

Fixed conforming 15 year home mortgage rates are averaging 3.77 percent for the week ending November 24, 2010, an increase from the prior week’s average 15 year home mortgage rate of 3.76 percent. Average mortgage discount points on 15 year home loans was 0.7 points, unchanged from the prior week’s average of 0.8 points.

5 year U.S. Treasury indexed adjustable mortgage rates averaged 3.45 percent for the week ending November 124 2010, up from the previous week’s average 5 year adjustable home mortgage rate of 3.40 percent. Average mortgage discount points on 5 year adjustable home mortgages was 0.6 points, down from the previous week’s average of 0.7 points.

1 year Treasury indexed adjustable home mortgage loan rates averaged 3.23 percent for the week ending November 24, 2010, down from the prior week’s average 1 year adjustable home mortgage rate of 3.26 percent. Average mortgage points on 1 year adjustable home loans was 0.6 points, unchanged from the previous week's average.