Bank Refinance Rates Decrease Today as 10 Year Treasury Yields Decline Again
Lower Treasury yields are sending bank refinance rates lower today. 10 year Treasury yields are down 20 basis points since last Monday retreating to 1.65 percent today. As a result average mortgage refinance rates on 30 year conforming loans have fallen from a recent high of 3.68 percent down to 3.55 percent. Since bond yields are lower again today we will see average 30 year mortgage rates come down even more this week. We might see 30 year mortgage interest rates fall below 3.50 percent again.
Average 15 year refinance rates which were above 3.00 percent for most of last week have gone below 3.00 percent. Average 15 year refinance mortgage rates are at 2.90 percent, a decline from an average 15 year refi rate of 2.91 percent cent yesterday. 15 year rates are so low right now you'd be insane not to refinance a 30 year loan to a 15 year loan, that is if you can afford the higher monthly payments.
Current refinance rates on 30 year jumbo loans are also lower today. The current average 30 year jumbo mortgage rate is at 4.23 percent, down from yesterday's average 30 year jumbo refinance rate of 4.25 percent. This coming week we'll probably see average 30 year jumbo refi rates break below 4.20 percent. Right now you can find lenders offering jumbo rates below the average, in fact right now on our rate list there are lenders listed offering 30 year refinancing rates as low as 4.00 percent with points.
Today's refinance rates on 15 year jumbo mortgages have also declined considerably from early last week. Refinance rates currently on 15 year jumbo mortgages are averaging 3.43 percent, down from yesterday's average 15 year jumbo refinancing rate of 3.45 percent. Early last week 15 year refi rates were above 3.50 percent at 3.56 percent.
This week we'll probably see 15 year jumbo rates fall to the 3.35 percent range. Right now you can find lenders offering 15 year jumbo refi rates below the averages. For example, on our rate table in California there are lenders listed offering 15 year refinance rates as low as 3.00 percent with 0.99 mortgage points.
Adjustable refinance rates on both 5 year conforming mortgages and 5 year jumbo mortgages are also lower today. The current average conforming 5 year adjustable mortgage rate is at 2.88 percent, a decline from an average 5 year adjustable mortgage refinance rate of 2.91 percent.
Average 5 year jumbo adjustable mortgage rates are at 2.81 percent, down from an average 5 year jumbo adjustable mortgage rate of 2.83 percent. Right now on our 5 year adjustable refinance rates list in Huntington Beach, California, Third Federal Savings and Loan is advertising 5 year refi rates at 2.44 percent with zero points.
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