Mortgage rates are down again in the latest Mortgage Application Survey released this morning by the Mortgage Bankers Association. Mortgage applictions headed higher thanks to lower mortgage rates. The MBA’s indexed increased for home purchases and for home refinances.  

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

Mortgage rates have hit a new low in 2010 according to the Primary Mortgage Market Survey released on Thursday by Freddie Mac. 30 year fixed conforming mortgage rates are down to 4.84 percent for the week ending May 20, 2010, down from an average 30 year mortgage rate of 4.93 percent on May 13, 2010. Discount points averaged 0.7 points. This week’s 30 year mortgage rate is the lowest point since December 10, 2009.

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.

Current mortgage rates from Bank of America are some of the best mortgage rates available. Bank of America is one of the largest banks in the U.S. and is offering very competitive mortgage rates. The bank is advertising mortgage rates for both home purchases and refinancing an existing mortgage. The bank is advertising mortgage rates for home up to a $1,000,000 according to MonitorBankRates.com.

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.

Mortgage rates dropped to the lowest lever ever in the most recent Mortgage Applications Survey. The Mortgage Bankers Association released their weekly mortgage survey this morning which shows 30 year mortgage interest rates and 15 year mortgage interest rates hitting record lows.

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.

Mortgage rates were lower in the latest Weekly Applications Survey released by The Mortgage Bankers Association. The average contract 30 year mortgage rate declined to 4.83 percent with an average of 1.08 mortgage rates for the week ending May 14, 2010. 30 year mortgage rates dropped from a rate of 4.96 percent the previous week.

The average contact mortgage rate for 15 year mortgages was also down week over week. The average 15 year contract mortgage interest rate is 4.19 percent for the week ending May 14, 2010.  Mortgage discount points averaged 1.36 points, up from the prior week’s average of 0.81 points.

Adjustable mortgage rates also declined for the week ending May 14, 2010. The average contract mortgage interest rate is down to 6.81 percent with mortgage discount points averaging 0.37 points. 1 year adjustable mortgage rates declined from the prior week’s average of 6.86 percent with an average of 0.35 points.

The Mortgage Bankers Association’s Market Composite Index which measures all mortgage loan application volume decreased 1.5 percent on a seasonally adjusted basis.

Mortgage application volume was down for home purchases, the Purchase Index was down 27 percent for the week ending May 14, 2010. The Refinance Index which measures mortgage refinance applications for refinancing a current mortgage increased 14.5 percent.

The reason why there was a big difference is the First Time Home Buyer Tax Credt. People who wanted to take advantage of the credit signed a contract to do so before the April 30 deadline. As a result mortgage applications for home purchases are suffering now despite the fact mortgage rates are still very low.

Kearny Federal Savings is offering some of the lowest mortgage rates available right now. The bank is advertising regular fixed mortgage rates, adjustable rate mortgages and fixed balloon mortgage rates.

The bank is also offering jumbo mortgage rates but those rates are not advertised on their website. For a list of jumbo mortgage rates you will have to call the bank.

Kearny Federal Savings Lowest Mortgage Rates

Fixed Mortgage Rates

• 10 Year Mortgage Rate 4.25% APR 4.372%
• 15 Year Mortgage Rate 4.375% APR 4.461%
• 20 Year Mortgage Rate 4.75% APR 4.822%
• 25 Year Mortgage Rate 5.00% APR 5.064%
• 30 Year Mortgage Rate 5.00% APR 5.056%

Adjustable Mortgage Rates

• 1/1/30 Adjustable Mortgage Rate 4.25% APR 3.257%
• 3/1/30 Adjustable Mortgage Rate 4.375% APR 3.450%
• 5/1/30 Adjustable Mortgage Rate 4.625% APR 3.708%
• 7/1/30 Adjustable Mortgage Rate 5.125% APR 4.138%
• 10/1/30 Adjustable Mortgage Rate 5.25% APR 4.352%
• 5/5/30 Adjustable Mortgage Rate 5.25% APR 5.152%

Fixed Balloon Mortgage Rate

• 15/30 Balloon Mortgage Rate 4.625% APR 4.689%

Mortgage rates are higher in the latest mortgage survey released this week by Freddie Mac. The average fixed 30 year mortgage rate is once again above 5.00 percent at 5.08 for the week ending April 1, 2010, up from the prior week’s average mortgage interest rate of 4.99 percent. Mortgage points averaged 0.7 points.

The average fixed 15 year mortgage rate was also up for the week ending April 1, 2010. 15 year mortgage rates increased to 4.39 percent, up from the prior week’s average interest rate of 4.39 percent. Mortgage discount points averaged 0.6 points.

Adjustable mortgage rates were lower for the week ending April 1, 2010. 5 year Treasury-indexed adjustable mortgage rates decreased to 4.10 percent, down from the previous week’s average rate of 4.14 percent. Mortgage points averaged 0.6 points.

Current mortgage rates are higher in the latest Primary Mortgage Market Survey released by Freddie Mac. The average 30 year fixed mortgage rate is averaging 5.08 for the week ending April 1, 2010, up from the prior week’s average home loan mortgage interest rate of 4.99 percent. Mortgage discounts remained the same for the week ending April 1, 2010 at 0.7 points.

15 year fixed home loan mortgage rates were also higher. 15 year fixed mortgage rates increased to 4.39 percent for the week ending April 1, 2010, up from the previous week’s average 15 year home loan rate of 4.34 percent. Mortgage discount points remained the same for the week ending April 1, 2010 at 0.6 points.

Adjustable mortgage rates decreased for the week ending April 1, 2010. The average 5 year U.S. Treasury-indexed adjustable mortgage rate is down to 4.10 percent, a decrease from the previous week’s average mortgage interest rate of 4.14 percent. Mortgage points averaged 0.6 points.

“Interest rates for fixed mortgages rose this week following a run up in long-term bond yields, while ARM rates eased slightly,” said Frank Nothaft, Freddie Mac vice president and chief economist.  “Rates on 30-year fixed loans were the highest since the starting week of this year.

“Home-price declines continue to moderate with more metropolitan areas showing stabilizing or rising values.  Compared with one year ago, house prices were down 0.7 percent in January 2010 in the S&P/Case-Shiller® 20-City Composite Index, which was the smallest 12-month decrease since January 2007.  Nine of the cities experienced positive growth, led by San Francisco’s 9.1 percent annual gain. Recently, the Mortgage Insurance Companies of America reported that homeowners who moved out of default outnumbered those who became newly delinquent in February, which was the first such occurrence since March 2006.”

Wells Fargo Bank is advertising some very competitive mortgage rates. The bank is advertising conforming mortgages, conforming jumbo mortgages,  jumbo mortgages, adjustable rate mortgages and FHA loans.

30 year mortgage rates, the most common mortgage for home owners, is currently advertised at 5.13 percent. That rate is just above the average 30 year mortgage rate of 5.08 percent according to the most recent Primary Mortgage Market Survey released by Freddie Mac. 

30 year conforming jumbo mortgage rates are higher than conforming rates. Conforming jumbo mortgage rates are higher cost areas that still are under$729,000 and conform to the standards set by the government. The current advertised rate for 30 year conforming jumbo loans is 5.25 percent.

Current Wells Fargo Bank Mortgage Rates

For more information about applying for a mortgage at Wells Fargo and current mortgage rates go to wellsfargo.com.

Mortgage rates decreased again in the Primary Mortgage Market Survey released by Freddie Mac.  30 year conforming mortgage rates which have been around 5.00 percent since the beginning of the year are back under 5.00 percent. The current 30 year mortgage interest rate is averaging 4.97 percent for the week ending March 4, 2010, down from the prior week’s average 30 year mortgage rate of 5.05 percent. Mortgage discount points remained unchanged 0.7 points.

The average 15 year fixed conforming mortgage rate also decrease from the week ending March 4, 2010. 15 year mortgage interest rates are averaging 4.33 percent for the week ending March 4, 2010, down from the previous week’s average mortgage rate of 4.40 percent. Average mortgage points stayed the same at 0.7 points.

The average 5 year Treasury-indexed adjustable mortgage rate averaged 4.11 percent for the week ending March 4, 2010, a decrease from last week’s average mortgage rate of 4.16 percent. Mortgage discount points averaged  0.6 points.

The average 1 year adjustable mortgage rate was higher in this mortgage survey. 1 year Treasury-indexed adjustable mortgage rates averaged 4.27 percent, up from last week’s average rate of 4.15 percent. Mortgage points were unchanged at 0.6 points