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Digital News Report – The average refinance 30-year loan rate fell four basis points today to 4.4937 percent. Over the past week that rate is 10 points lower and over the past 30 days the rate has fallen 17 basis points.
Refinance mortgage rates will depend on credit history (credit score), location of the home and the amenities and quality of the house (see the chart below). Refinance rates may also be different than new purchase home loan rates.
Bank of America raised their 30-year fixed loan rates less than one basis point to 4.999 percent. Over the past week the bank has raised their rate 7.6 points.
Chase kept their 30-year rates steady at 4.607 percent. Over the past week the bank has raised their 2 points, but over the past 30-days they have lowered it 22 points.
The average 15-year fixed rate mortgage for refinancing increased four basis points to 3.9417 percent. Chase kept their rate the same at 4.38 percent.
The average 5/1 year adjustable rate mortgage (refinance) was up less than one basis point to 3.16 percent. Bank of America raised their rate less than one point to 3.263 percent. Chase kept their rate the same.
By: Tina Brown
| Monday | Basis Point | Basis Point | Basis Point | |
| 9/6/2010 | Average Refinance Rates | Change (Day) | Change (Week) | Change (30-day) |
| 4.4937% | 30-Year FRM | -4 | -10 | -17 |
| 3.9417% | 15-Year FRM | 4 | -5 | -12 |
| 3.1600% | 5/1 ARM | 0 | -9 | -12 |
| Monday | Basis Point | Basis Point | Basis Point | |
| 9/6/2010 | Bank of America | Change (Day) | Change (Week) | Change (30-day) |
| 4.999 | 30-Year Fixed Rate | 0 | 8 | -15 |
| 3.263 | 5-Year ARM | 0 | -3 | -30 |
| 5.998 | 30-Year Fixed Interest Only | 0 | -3 | 36 |
| 3.304 | 5-Year ARM, interest only | 0 | -1 | -32 |
| 9/6/2010 | Chase | |||
| 4.607 | 30-Year Fixed Rate | 0 | 2 | -22 |
| 4.38 | 15-Year Fixed Rate | 0 | 9 | 26 |
| 3.442 | 7/1 ARM | 0 | 1 | -23 |
| 3.281 | 5/1 ARM | 0 | -1 | -22 |