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US Average Mortgage Rates for May 2009

May 19, 2009 By

The average mortgage rates for the top 10 US cities for the month of May 2009.  Rates are still at historic lows.  If you’re looking to buy a new house or refinance, use the table as guide when talking to mortgage brokers/bankers.

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 4.74 0.43 5.17 0.51 5.47 0.43
Los Angeles 5.08 0.23 5.34 0.13 4.81 0.25
Chicago 4.95 0.19 5.49 0.21 5.11 0.59
San Francisco 4.72 0.31 5.14 0.33 4.50 0.83
Philadelphia 4.77 0.48 5.37 0.42 5.20 0.52
Detroit 4.79 0.31 5.31 0.24 5.41 0.21
Boston 4.71 0.20 5.25 0.10 4.92 0.06
Houston 4.48 0.88 5.22 0.75 5.04 0.71
Dallas 4.59 0.70 5.16 0.64 5.11 0.70
DC Metro 4.43 0.77 4.83 0.75 4.60 0.93
Brm National Index 4.73 0.45 5.23 0.41 5.05 0.53
Average mortgage rates and points as of survey date 5/4/2009. This data comes from the Wednesday survey of the largest institutions in the country.

Source: BankRate

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