Fixed conforming 30 year mortgage rates hit a low of 4.44 percent with 0.7 mortgage points for the week ending August 12, 2010, down from last week when it averaged 4.49 percent.

Conforming fixed 15 year mortgage rates are at a record low of  3.92 percent with 0.6 mortgage points for the week ending August 12, 2010, a decline from last week’s average mortgage interest rate of 3.95 percent.

5 year Treasury indexed hybrid adjustable mortgage rates averaged 3.56 percent for the week ending August 12, 2010, down from the previous week’s average 3.63 percent. Average mortgage discount points were 0.7 points.

1 year Treasury indexed hybrid adjustable mortgage rates averaged 3.53 percent for the week ending August 12, 2010, down from the previous week’s average 3.56 percent. Average mortgage discount points on 1 year adjustable mortgage rates were 0.7 points.

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The Refinance Index increased 1.3 percent from the previous week. The seasonally adjusted Purchase Index increased 1.5 percent from one week earlier. 

The Market Composite Index, which measures home mortgage loan application volume, increased 1.3 percent on a seasonally adjusted basis from one week earlier.

The average contract mortgage rate on 15 year mortgages are at record lows for week ending July 30, 2010. The current average contract 15 year mortgage rate hit a low of 4.03 percent, down from the previous week’s average 15 year mortgage rate of 4.12 percent. The average mortgage points on 15 year home loans increased to 1.01 points, up from the prior week’s average of 0.8 points.

In the Mortgage Application Survey, the average contract 30 year mortgage rate is down to 4.60 percent for the week ending July 30, 2010, a decrease from the previous week’s average 30 year mortgage rate of 4.69 percent. 

Mortgage discount points on 30 year mortgages increased for the week ending July 30, 2010. The average points increased to 0.93 points, up from the previous week’s average of 0.88 points.

The average 1 year adjustable contract mortgage rate was also lower for the week ending July 30, 2010. The average contract mortgage rate on 1 year adjustable mortgages is down to 7.10 percent, a decline from the prior week’s average of 7.15 percent. Mortgage discount points averaged 0.21 points, a decrease from previous week’s average of 0.23 points

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Conforming fixed 15 year mortgage rates are also down for the week ending May 20, 2010. The average conforming fixed 15 year mortgage rate is at 4.24 percent with 0.7 mortgage discount points. This is the lowest point for 15 year mortgage rates since Freddie Mac starting tracking rates in 1991.

The average 5 year Treasury indexed adjustable rate mortgage declined to 3.91 percent for the week ending May 20, 2010, down from an average 5 year adjustable mortgage rate on May 13, 2010. Mortgage points averaged 0.6 points.

1 year Treasury indexed adjustable mortgage rates averaged 4.00 percent for the week ending May 20, 2010, down from May 13th’s average of 4.02 percent. Mortgage discount points were unchanged at 0.6 points.

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Bank of America advertises three different types of mortgage rates. Conforming mortgage rates, jumbo mortgage rates and adjustable mortgage rates. The bank also advertises home equity loan rates and home equity line of credit rates.

Bank of America also offers their “Clarity Commitment”. The Clarity Commitment letter gives you a one-page loan summary, written in easy-to-understand language highlighting the key terms of your loan. Nice to have since the mortgage loan process can be hard to understand.

If you’re a first time home buyer the bank also has mortgage programs for you. If you’re a current Bank of America mortgagee and are having problems paying your mortgage the bank has a home loan assistance program that can help you.

If you’re interested in the bank’s mortgage rates or want to apply for a home loan go to bankofamerica.com. You can also go to a brick and mortar location or call the bank’s home loan department. You can talk to one of their home mortgage loan officers Monday to Friday from 8:00 am EST to 11:00 PM EST. Bank of America also have home loan officers available on Saturday from 8:00 am to 8:00 pm EST.

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The average contract mortgage rate on 30 year mortgages is down to 4.59 percent for the week ending July 16, 2010, down from the prior week’s average 30 year mortgage rate of 4.69 percent. Mortgage points on 30 year mortgages increased to 1.04 points, up from 0.96 points the prior week.

The average contract mortgage rate on 15 year mortgages also decreased for the week ending July 16, 2010. The average contract 15 year mortgage rate is averaging 4.05 percent, down from the previous week’s average 15 year mortgage rate of 4.12 percent. Mortgage points averaged 0.88 points on 15 year mortgages, down from the prior week’s average of 1.04 points.

The average 1 year adjustable mortgage rate decreased to 7.17 percent for the week ending July 16, 2010, down from the prior week’s average 1 year adjustable mortgage interest rate of 7.20 percent. Mortgage points averaged 0.24 points, up from last week’s average of 0.22 points.

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