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Mortgage Rates for Top 10 Cities – March 2009

March 11, 2009 By

Mortgage Rates for Top 10 Metropolitan Areas in US as of March 04, 2009.  This information is very handy when you speak to your banker or mortgage broker as you can use the number as your guideline.  Most likely banks and mortgage brokers can’t beat the numbers but don’t expect to pay a lot more than the normal average rates.

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 5.04 0.31 5.51 0.25 5.84 0.27
Los Angeles 5.20 0.24 5.54 0.25 5.31 0.49
Chicago 5.03 0.19 5.62 0.19 5.16 0.57
San Francisco 4.91 0.38 5.35 0.39 5.28 0.40
Philadelphia 4.89 0.52 5.44 0.41 5.44 0.53
Detroit 5.11 0.19 5.64 0.20 5.63 0.20
Boston 4.90 0.27 5.32 0.28 5.31 0.17
Houston 4.77 0.87 5.33 0.77 5.25 0.66
Dallas 4.79 0.46 5.33 0.86 5.34 0.43
DC Metro 4.65 0.70 4.99 0.93 5.20 0.90
Brm National Index 4.93 0.41 5.41 0.45 5.40 0.43

source: BankRate

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