Interest Rate Roundup
mortgage
Interest Rate Roundup

Here's a look at the state of mortgage rates from Bankrate.com's weekly national survey of large banks and thrifts conducted Feb. 3, 2010.

Mortgages

Rate: 5.15 percent (30-year fixed) Average Points: 0.49

Mortgage rates rose slightly after falling for four straight weeks.

The average 30-year fixed-rate mortgage rose 2 basis points, to 5.15 percent. A basis point is one-hundredth of a percentage point.

Meanwhile, this week's average 15-year fixed-rate -- a popular option for refinancing -- edged up 1 basis point, to 4.55 percent.

The average jumbo 30-year fixed also increased 1 basis point, to 6 percent.

Adjustable-rate mortgages split this week. The one-year adjustable-rate mortgage remained unchanged at 4.92 percent. Meanwhile, the popular 5/1 ARM rose 2 basis points, to 4.56 percent.

Mortgage applications soared a seasonally adjusted 21 percent when compared to a week earlier, according to the Mortgage Bankers Association. For the week ending Feb. 3, applications for new purchase rose 17.5 percent, while refinancing activity jumped 26.3 percent.

In other mortgage-related news, pending home sales increased by 1 percent in December when compared to a month earlier, according to the National Association of Realtors. Sales also were up 10.9 percent year over year.

See all interest rates content.

-- Chris Kissell

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