mortgage

Interest Rate Roundup for Sept. 9, 2010

Interest Rate Roundup
Mortgage rate graph

Mortgages

  • 4.58% (30-year fixed)
  • 0.37 (average points)

Here's a look at the state of mortgage rates from Bankrate.com's weekly national survey of large banks and thrifts conducted Sept. 8, 2010.

Mortgage rates rose off last week's record lows.

The average 30-year fixed-rate mortgage increased 5 basis points, to 4.58 percent. A basis point is one-hundredth of a percentage point.

This week's average 15-year fixed-rate -- a popular option for refinancing -- edged up 1 basis point, to 4.06 percent.

The average jumbo 30-year fixed jumped 6 basis points to 5.23 percent.

Adjustable-rate mortgages rose this week. The one-year adjustable-rate mortgage ticked up 2 basis points, to 4.84 percent. Meanwhile, the popular 5/1 ARM rose 5 basis points, to 3.91 percent.

Mortgage applications fell a seasonally-adjusted 1.5 percent when compared to a week earlier, according to the Mortgage Bankers Association.

Applications for purchase rose 6.3 percent, but refinance applications dipped 3.1 percent.

In other mortgage news, pending home sales rose 5.2 percent in July when compared to June. However, sales were down 19.1 percent year over year.

-- Chris Kissell

 

 

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Product Rate Change Last week
30 year fixed 4.29%  0.01 4.30%
15 year fixed 3.23%  0.06 3.29%
5/1 ARM 3.33%  0.12 3.45%
 
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