The 30 year fixed rate mortgage payment fell for the week ending July 15, 2009. Selectcalcultors.com calculates the monthly mortgage payment on the 30 year and 15 year mortgage based on a survey of the top bank mortgage rates on the close of Wednesday weekly. This week the monthly mortgage payment on a $175,000 home loan based on the results from the mortgage payment calculator fell $4.37 to $980.51. The mortgage rate input to the mortgage payment calculator was based on the average 30 year fixed rate mortgage of 5.38% with an average of 0.43 points. The mortgage calculator payment for last week on a $175,000 home loan was $984.88 based on an average 30 year fixed rate mortgage of 5.42%.
The mortgage payment calculator findings for the 15 year fixed rate mortgage with a $175,000 balance indicated a decline of $1.81 on the monthly mortgage payment. The monthly payment reduction is based on a mortgage rate of 4.83%. The average mortgage rate on the 15 year fixed rate mortgage ended the week 4.83% with 0.47 points which is down from last week’s average 15 year fixed rate mortgage of 4.85%.
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