Weekly Mortgage Rates: Updated May 25, 2009

Longer term mortgage rates were mixed last week, 30-year mortgage rates were up while 15-year rates continued to go down.  The most pronounced decrease on 15 year mortgages was the 15-year jumbo fixed rate mortgage. Rates declined from 6.01 percent to 5.87 percent.

Earlier this month, 15-year jumbo rates were at 6.19 percent. 15-year conforming fixed rate mortgage were down only .02 percent to 4.53 percent.

30-year conforming mortgage rates were up to 4.90 percent from 4.84 percent, the highest increase recently but still below the five percent which we last saw May 6th when rates were at 5.02 percent. Average rates on 30-year jumbo fixed rate mortgages were at 6.18 percent up from 6.12 percent the previous week.

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 #2473786

5.032%

15-Year Fixed

4.875%

$4,155

Includes 0.765 points for $3,060

Lender Fees: $1,095

$3,138 /mo

Next >

NMLS #757416

5.136%

15-Year Fixed

4.990%

$3,872

Includes 0.968 points for $3,872

Lender Fees: $0

$3,162 /mo

Next >

NMLS #2059741

5.191%

15-Year Fixed

4.990%

$5,316

Includes 0.829 points for $3,316

Lender Fees: $2,000

$3,162 /mo

Next >

NMLS #2473786

5.350%

5-Year ARM

5.250%

$4,499

Includes 0.851 points for $3,404

Lender Fees: $1,095

$2,209 /mo

Next >

NMLS #1025894

5.515%

15-Year Fixed

5.375%

$3,644

Includes 0.736 points for $2,944

Lender Fees: $700

$3,242 /mo

Next >

NMLS #2473786

5.935%

30-Year Fixed

5.875%

$2,587

Includes 0.373 points for $1,492

Lender Fees: $1,095

$2,367 /mo

Next >

NMLS #757416

5.963%

30-Year Fixed

5.875%

$3,824

Includes 0.956 points for $3,824

Lender Fees: $0

$2,367 /mo

Next >

NMLS #2059741

6.005%

30-Year Fixed

5.875%

$5,632

Includes 0.908 points for $3,632

Lender Fees: $2,000

$2,367 /mo

Next >

NMLS #1025894

6.205%

30-Year Fixed

6.125%

$3,400

Includes 0.675 points for $2,700

Lender Fees: $700

$2,431 /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.

Shorter term adjustable rate mortgages were also up this past week with the exception of a one year conforming ARMs, down to 4.80 percent from 4.82 percent and jumbo ARMs which were down to 5.64 percent from 5.74 percent. Average rates for conforming 3/1 ARMs were 4.77 percent up from 4.70 percent. Jumbo 3/1 ARMs averaged 5.58 percent up from 5.52 percent.

Average rates on interest-only adjustable rate mortgages also increased. 5/1 conforming interest-only ARMs averaged 4.59 percent, a big jump up from 4.45 percent. Jumbo 5/1 interest-only ARMs averaged 5.83 percent, up from 5.70 percent. 7/1 conforming interest-only ARMs averaged 5.22 percent, up from 5.10 percent. 7/1 jumbo interest-only ARMs averaged 6.34 percent up from 6.30 percent.

To find the best mortgage rates in your area use MonitorBankRates.com Mortgage Rate Tables