Mortgage Rates: Updated May 4th

Mortgage rates remained steady the past week, no big changes in rates. Fixed rate mortgages are still at historic lows. 30-year conforming mortgage rates went up to 5.02% from 4.96%. 15-year conforming mortgage rates went up to 4.79% from 4.72%

Jumbo mortgage rates also went up this past week. 30-year Jumbo mortgage rates went from 4.96% to 5.02% and 15-year jumbo mortgage went up even more to 6.19% from 6.02%.

The annual percentage rate on a 5-year conforming adjustable rate mortgage is now at 4.17% down from 4.215% last past week. The annual percentage rate on1-year conforming adjustable mortgages stayed under 4%, the average 3.98 percent this week up from 3.92 percent last week.

Loan Term
Show Advertiser Disclosure
Lender
APR / Rate
Fees / Points
Payment
Bison State Bank
NMLS #757416
5.521%
15-Year Fixed
5.375%
$3,812
Includes 0.953 points for $3,812
Lender Fees: $0
$3,242 /mo
Next >
Mutual of Omaha Mortgage, Inc.
NMLS #1025894
5.546%
15-Year Fixed
5.375%
$4,476
Includes 0.944 points for $3,776
Lender Fees: $700
$3,242 /mo
Next >
New American Funding, LLC.
NMLS #6606
5.765%
15-Year Fixed
5.625%
$3,628
Includes 0.907 points for $3,628
Lender Fees: $0
$3,295 /mo
Next >
PenFed Credit Union
NMLS #401822
6.194%
15-Year Fixed
6.000%
$4,995
Includes 0.750 points for $3,000
Lender Fees: $1,995
$3,376 /mo
Next >
Bison State Bank
NMLS #757416
6.562%
30-Year Fixed
6.490%
$2,988
Includes 0.747 points for $2,988
Lender Fees: $0
$2,526 /mo
Next >
Mutual of Omaha Mortgage, Inc.
NMLS #1025894
6.590%
30-Year Fixed
6.490%
$4,188
Includes 0.872 points for $3,488
Lender Fees: $700
$2,526 /mo
Next >
PenFed Credit Union
NMLS #401822
6.644%
30-Year Fixed
6.500%
$5,995
Includes 1.000 points for $4,000
Lender Fees: $1,995
$2,529 /mo
Next >
New American Funding, LLC.
NMLS #6606
6.713%
30-Year Fixed
6.625%
$3,628
Includes 0.907 points for $3,628
Lender Fees: $0
$2,562 /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.

Rates on a home equity line of credit is still under 5 percent, at 4.73%. The rate on a 10-year fixed rate home equity loan inched up to 7.69% and the rate on a 15-year fixed rate home equity loan is at  7.81%.

 

Description Rate APR
Home Equity Line of Credit 4.732%  
Home Equity Loan - 10 Years 7.690%  
Home Equity Loan - 15 Years 7.816%  
15 Year Fixed Conforming 4.658% 4.795%
15 Year fixed Jumbo 6.075% 6.197%
30 Year Fixed Conforming 4.942% 5.022%
30 Year Fixed Jumbo 6.148% 6.216%
1 Year ARM Conforming 4.910% 3.873%
1 Year ARM Jumbo 5.857% 3.987%
3/1 Year ARM Conforming 4.887% 4.119%
3/1 Year ARM Jumbo 5.550% 4.205%
5/1 Year ARM Conforming 4.603% 4.171%
5/1 Year ARM Jumbo 5.529% 4.428%
7/1 Year ARM Conforming 5.007% 4.400%
7/1 Year ARM Jumbo 6.382% 4.898%
10/1 Year ARM Conforming 5.298% 4.720%
10/1 Year ARM Jumbo 6.384% 5.257%
Interest Only: 3/1 Year ARM Conforming 5.036% 4.217%
Interest Only: 3/1 Year ARM Jumbo 5.653% 4.374%
Interest Only: 5/1 Year ARM Conforming 4.777% 4.286%
Interest Only: 5/1 Year ARM Jumbo 5.881% 4.596%
Interest Only: 7/1 Year ARM Conforming 5.254% 4.540%
Interest Only: 7/1 Year ARM Jumbo 6.652% 5.075%

 
Author: Brian McKay
May 6th, 2009

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