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Average Mortgage Rates for US Cities – August 2009

August 7, 2009 By

The average mortgage rates for major US Cities for August 2009.  Compared with July mortgage rates tumbled to almost record lows.  New York  Mortgage Rates dropped 58 basis points for 15-Year mortgage and 30 basis points for 30-year Mortgage rates.  Similar dropped in Mortgage Rates were felt across the US compared with previous month.

Average mortgage rates and points in the top 10 markets
Fixed 15-year Fixed 30-year 5-year ARM
Market Rate Points Rate Points Rate Points
New York Metro 4.85 0.27 5.62 0.31 5.50 0.43
Los Angeles 5.30 0.25 5.87 0.13 4.94 0.25
Chicago 4.96 0.21 5.60 0.31 5.26 0.58
San Francisco 4.90 0.33 5.60 0.25 4.48 0.28
Philadelphia 4.83 0.30 5.56 0.31 5.14 0.38
Detroit 4.85 0.35 5.48 0.33 5.26 0.10
Boston 4.75 0.19 5.43 0.19 4.71 0.16
Houston 5.03 0.88 5.78 0.86 4.79 0.33
Dallas 4.72 0.63 5.44 0.86 4.65 0.67
DC Metro 4.62 0.85 5.27 0.82 4.56 0.72
Brm National Index 4.88 0.42 5.56 0.44 4.95 0.41
Average mortgage rates and points as of survey date 8/4/2009. This data comes from the Wednesday survey of the largest institutions in the country.

Source: BankRate

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