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Home » Business » Refinance Mortgage Loan Rates Trend Upward This Week

Refinance Mortgage Loan Rates Trend Upward This Week

By Tina Brown on September 12, 2010
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Digital News Report – Refinance loan rates were mixed this week with some rates advancing and other rates moving lower. The average 30-year fixed refinance rate was one basis point lower this week compared to last.

The average 30-year rate was 4.20 percent Friday. This is down one point for the week and 12 points for the month.

Bank of America and Chase both publish their refinance rates. In some instances, their refinance rate will differ from a purchase loan rate. Both rates are at historic low levels.

Bank of America had a 30-year mortgage rate for refinancing of 4.753 percent. That is even with Thursday, but 24 basis points lower over the week. Chase raised their 30-year rates 11 basis points to 4.7 percent.

The average 15-year fixed rate refinance mortgage jumped four basis points on Friday. Chase raised their rate 11 basis points to 4.398 percent.

The 5/1 adjustable rate mortgage for refinance increased seven basis points Friday to 3.27. Both Bank of America and Chase raised their rates.

By: Tina Brown

Thursday Friday Basis Point Basis Point Basis Point
9/9/2010 9/10/2010 Average Refinance Rates Change (Day) Change (Week) Change (30-day)
4.5219% 4.5199% 30-Year FRM 0 -1 -12
3.8787% 3.9180% 15-Year FRM 4 2 66
3.2013% 3.2665% 5/1 ARM 7 11 -67
Thursday Friday Basis Point Basis Point Basis Point
9/9/2010 9/10/2010 Bank of America Change (Day) Change (Week) Change (30-day)
4.752 4.753 30-Year Fixed Rate 0 -24 -19
3.265 3.276 5-Year ARM 1 1 -14
5.605 5.531 30-Year Fixed Interest Only -7 -46 -8
3.306 3.323 5-Year ARM, interest only 2 2 -13
9/9/2010 Chase
4.586 4.7 30-Year Fixed Rate 11 9 0
4.292 4.398 15-Year Fixed Rate 11 2 11
3.431 3.48 7/1 ARM 5 4 -13
3.268 3.313 5/1 ARM 5 3 -11
  1. Current Refinance Mortgage Rates May Be In Upward Trend
  2. Refinance Home Loan Rates Mixed – Refinancing Mortgage Interest Rates Lower This Week
  3. Refinance Mortgage Rates Lower Again This Week
  4. Refinance Mortgage Rates – Compare Chase To Bank Of America
  5. Home Loan Refinancing Rates Mixed This Week

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