Weekly Mortgage Rates: June 15 2009

Mortgage rates continued to rise last week, rising quicker than most mortgage brokers and analysts anticipated. The quick upturn in home mortgage rates is being driving by the quick rise in U.S. Treasury rates.

Treasury rates are rising because many believe that the economic situation will improve by the end of 2009. Some economists believe the U.S. economy will start expanding again by the end of the year.

As a result of the sudden increase in rates, mortgage refinancing has taken a nose dive. With rates rising so fast and the large supply of homes for sale economists are concerned that the housing market will take a longer time to recover.

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 #2578474

5.389%

15-Year Fixed

5.250%

$3,650

Includes 0.650 points for $2,600

Lender Fees: $1,050

$3,216 /mo

Next >

NMLS #2059741

5.510%

15-Year Fixed

5.375%

$3,520

Includes 0.880 points for $3,520

Lender Fees: $0

$3,242 /mo

Next >

NMLS #1025894

5.632%

15-Year Fixed

5.490%

$3,688

Includes 0.747 points for $2,988

Lender Fees: $700

$3,267 /mo

Next >

NMLS #6606

5.767%

15-Year Fixed

5.625%

$3,696

Includes 0.924 points for $3,696

Lender Fees: $0

$3,295 /mo

Next >

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

Next >

NMLS #2059741

6.548%

30-Year Fixed

6.490%

$2,412

Includes 0.603 points for $2,412

Lender Fees: $0

$2,526 /mo

Next >

NMLS #1025894

6.597%

30-Year Fixed

6.490%

$4,460

Includes 0.940 points for $3,760

Lender Fees: $700

$2,526 /mo

Next >

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

Next >

NMLS #6606

6.823%

30-Year Fixed

6.740%

$3,392

Includes 0.848 points for $3,392

Lender Fees: $0

$2,592 /mo

Next >

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

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.

Compare mortgage rates in your area by using our mortgage rate search tool. Search for mortgage rates here

Today's Mortgage Rates:

Mortgage loan rates for both fixed mortgage rates and adjustable mortgage rates rose last week. 30-year mortgages (conforming fixed rate mortgages) rose to 5.70 percent, up from 5.40 percent. The average mortgage rate increase this week was larger than the prior week over week increase in average mortgage rate increase.

15 year mortgage rates (conforming fixed rate mortgages) rose over five percent to 5.20 percent this week, up from the prior week's average mortgage rate of 4.93 percent. 15 year mortgage rates are still some of the lowest mortgage rates available today.

If you compare mortgage rates this week over the average rate at the end of last month, you can see how much rates have increased in a short period of time. 15-year conforming average mortgage rates were in the 4.50 percent range at the end of May, now rate at nearing 5.25 percent.

Jumbo mortgage rates also rose last week. The average rate for 30-year jumbo mortgage rates increased to 6.64 percent, up from last week's average rate of 6.34 percent. The average rate for a 15-year jumbo mortgage rose to 6.44 percent up from the prior week's average mortgage rate of 6.20 percent.  Jumbo home mortgage interest rates have been a lot higher than conforming mortgage rates recently.

Adjustable mortgage rates (ARMs) increased last week. The average 1 year adjustable mortgage rate rose to 4.92 percent, up from 4.68 percent. Average rates for a 1 year jumbo ARM rose to 6.07 percent, up from 5.94 percent the prior week.

The average mortgage rate for a 3/1 conforming ARM is now over five percent at 5.11 percent, up from the prior week's average of 4.89 percent. Jumbo 3/1 ARMS are now at 5.87 percent, up from 5.83 percent. The average mortgage rate for a 5/1 ARM is 5.16 percent, up from 4.83 percent.

The average rate for a jumbo 5/1 ARM is 5.93 percent, up from 5.75 percent. Conforming 7/1 ARMs are now at 5.70 percent this week, up from the prior week's average rate of 5.40 percent. Jumbo 7/1 ARMs are averaging 6.67 percent, up from 6.61 percent. The average rate for a 10/1 conforming ARM is at 6.05 percent, up from 5.70 percent. Jumbo 10/1 ARMs are averaging 6.96 percent, up from 6.72 percent.

Home equity line of credit rates barely rose this past week, the average HELOC rate this week is 4.77 percent, up from 4.75 percent. Home equity loans rose this week, the average rate for a 10 year home equity loan is now at 7.65 percent, up from 7.64 percent. 15 year home equity loan rates averaged 7.79 percent, up from the prior week's average of 7.76 percent.

You can find some of the best mortgage rates by using MonitorBankRates.com's mortgage rate tool. Search for mortgage rates in your zip code.