Mortgage Rates were higher in the latest Weekly Mortgage Applications Survey released by the Mortgage Bankers Association. The increases were small this week, 30 year mortgage rates, 15 year mortgage rates and 1 year adjustable mortgage rates were all up slightly for the week ending January 22, 2010.

Looking for the best mortgage rates to refinance or buy a new home? Use our mortgage rate tables to find today’s mortgage rates  in your state or zip code. Today’s Mortgage Interest Rates.

Mortgage rates increased slightly and mortgage applications decreased, The Market Composite Index, which measures mortgage loan application volume, decreased 10.9 percent on a seasonally adjusted basis from one week earlier.

The Refinance Index, which measures mortgage refinance application volume, was down 15.1 percent from the previous week. The Purchase Index, which measures home application volume for home purchases decreased 3.3 percent from one week earlier on a seasonally adjusted basis.

The average mortgage contract rate on 30 year fixed mortgages increased to 5.02 percent for the week ending January 22, 2010, up from the previous week’s average home loan rate of 5.00 percent. Mortgage discount points decreasing to 1.00 point from 1.05 points the week prior. Mortgage discount points allow the mortgagee to “buy down” the mortgage rate by paying money upfront at the mortgage closing.

The average 15 year contract mortgage rate is averaging 4.34 percent for the week ending January 22, 2010, up from the prior week’s average mortgage home interest rate of 4.33 percent. Discount points decreased to 1.14 points, down from the previous week’s average of 1.19 points.

The average contract rate on 1 year adjustable mortgages increased to 6.84 percent, up from last’s week’s average one year adjustable home loan mortgage rate of 6.72 percent. Discount points increased to 0.33 points, up from last week’s average of 0.31 points.

For a more extensive report on today’s mortgage interest rates, MonitorBankRates.com released its Weekly Mortgage Report on Monday, which follows:

Current Mortgage Rates

Fixed conforming 30 year mortgage rates are at 5.04 percent this week, down from the prior week’s average home loan rate of 5.06 percent.

Conforming 15 year mortgage rates are at 4.40 percent this week, down from last week’s average home loan interest rate of  4.44 percent.

Jumbo Mortgage Rates

30-year jumbo mortgage rates are averaging 5.86% this week, up from the prior week’s average home loans rate of 5.72%.

15 year jumbo mortgage loans are averaging 5.24% this week, up from the prior week’s average home mortgage loan rate of 5.16%.

Adjustable Mortgage Rates

Conforming 1 year adjustable mortgage home loan rates are averaging 4.32% this week, down from the prior week when one year home loans were averaging 4.50%.

Conforming 3 year adjustable mortgage interest rates are averaging 4.52%, down from last week’s average loan rate of 4.53%.

Conforming 5 year adjustable mortgage rates are averaging 4.20% this week, up from the previous week’s average mortgage interest rate of 4.12%.

Conforming 7 year adjustable home loan rates are averaging 4.61%, up from last week’s average home loan rate of 4.56%.

Conforming 10-year mortgage rates are at 5.11%, a decrease from the previous week’s average interest mortgage rate of 5.18%.

Jumbo Adjustable Mortgage Rates

Jumbo 1 year jumbo adjustable mortgage rates are averaging 5.31% this week, down from the prior week’s average home mortgage loan rate of 5.48%.

Jumbo 3-year jumbo ARMs are averaging 5.32% this week, up from last week’s average adjustable interest loan rate of 5.27%.

The average 5 year jumbo ARM is at 4.99% this week, up from the prior week’s average interest mortgage rate 0f 4.89%.

7 year jumbo ARMs are averaging 5.37% this week, down from last week’s average loan mortgage rate of 5.43%.

The average 10 year jumbo is at 5.88%, down from the prior week’s average 10 year mortgage loan rate of 5.95%.

Conforming Interest Only Mortgage Rates

3 year interest only mortgage rates are averaging 4.65% this week, unchanged from last week’s average interest rate.

5 year interest only loans are averaging 4.31% this week, up from last week’s average five year interest only mortgage rate of 4.21%.

7 year IO home loan rates are averaging 4.81% this week, up from last week’s average interest rate of 4.76%.

Jumbo Interest Only Mortgage Rates

3 year jumbo interest only mortgages are averaging 5.52% this week, up from last week’s jumbo interest mortgage rate of 5.42%.

5 year jumbo IO loan rates are averaging 5.39%, up from the prior week’s average IO mortgage rate of 5.24%.

The average jumbo 7 year IO loan mortgage rate is at 5.76%, up from last week’s average jumbo rate of 5.73%.

Home Equity Loans

The average home equity loan rate was up considerably this week over last. 10 year home equity loan rates decreased to 7.418% this week, down from last week’s average equity home loan rate of 7.424%. 15 year home equity rates decreased to 7.517%, down slightly from the prior week’s average equity loan rate of 7.520%.

Home Equity Line of Credit (HELOC)

Average home equity line of credit rates were down slightly this week over last. The average HELOC rate is at 4.906% this week, up slightly from last week’s average HELOC rate of 4.904%.

Looking for current mortgage rates? The best mortgage rates including jumbo mortgage rates can be found in your state or zip code by using our bank mortgage rate tables. Current Mortgage Rates