Home Mortgage Rates Stablize 10/10: 30 Year Conforming Mortgage Rates at 4.07%, 30 Year Jumbo Mortgage Rates at 4.65%

Mortgage rates are flat today after making new lows yesterday. Home mortgage rates headed sharply lower on Saturday following bond yields lower on news that the September job numbers were weaker than expected. Bond yields and mortgage rates headed lower on that news and the greater possibility the Federal Reserve will drive interest rates even lower to help the economy.

Early in 2010 the fed completed their purchases of mortgage backed securities which drove mortgage rates to record lows. Since the economic recovery is fragile the fed hinted at another round of purchasing treasuries and mortgage backed securities to drive interest rates even lower. This became more likely this past week. If the fed does start another round of quantitative easing (QE2), expect mortgage rates to go even lower over the next few months.

Today's conforming 30 year home mortgage rates are averaging 4.07 percent, unchanged from Saturday's yesterday's average 30 year home mortgage interest rate. Today's 30 year conforming mortgage rates in SC are lower averaging 4.05 percent.

Current conforming 15 year home mortgage rates are averaging 3.53 percent, no change from Saturday's average 15 year mortgage loan rate. 15 year home mortgage rates in NE are slightly lower averaging 3.52 percent today. 

Jumbo fixed 30 year home mortgage rates are averaging 4.65 percent, unchanged from Saturday's average 30 year jumbo mortgage rate. Today's 30 year fixed jumbo mortgage rates in Texas are considerably higher averaging 5.08 percent.

15 year jumbo home mortgage interest rates are averaging 4.16 percent, no change from Saturday's average 15 year jumbo home mortgage rate. Current 15 year jumbo home mortgage rates in MN are lower averaging 4.09 percent.  

Following is a more in-depth mortgage rates report released by MonitorBankRates.com earlier this week:

Mortgage Rates

Conforming Home Mortgage Rates Today

Current 30 year mortgage rates are averaging 4.30 percent, down from last week’s average 30 year home mortgage rate of 4.32 percent. 30 year refinance mortgage rates today are also lower, averaging 4.30 percent.

Today’s 15 year mortgage loan rates are averaging 3.75 percent, down from the previous week’s average 15 year mortgage interest rate of 3.82 percent. 15 year mortgage refinance loan rates are also lower, averaging 3.75 percent.

Jumbo Home Mortgage Rates Today

30 year jumbo mortgage loan rates today are averaging 4.76 percent, down from the previous week’s average 30 year jumbo mortgage interest rate of 4.88 percent. 30 year jumbo loan refinance rates today are lower averaging in at 4.76 percent.

15 year jumbo mortgage interest rates are averaging lower at 4.24 percent, a decline from the prior week’s average jumbo mortgage loan rate of 4.32 percent. 15 year jumbo mortgage refinance rates today are also lower at 4.24 percent.

Conforming Adjustable Mortgage Interest Rates Current

1 year adjustable mortgage rates today are averaging 3.14 percent, a decline from last week’s average 1 year adjustable home mortgage loan rate of 3.15 percent. Current 1 year conforming adjustable refinance loan mortgage rates are also lower averaging 3.14 percent.

3 year adjustable mortgage rates today are averaging 3.48 percent, an increase from last week’s average 3 year adjustable mortgage loan rate of 3.39 percent. Today’s 3 year mortgage refinance rates are also higher averaging 3.48 percent.

5 year adjustable mortgage loan rates today are averaging 3.19 percent, up from the prior week’s average mortgage rate of 3.13 percent. 5 year refinance home loan rates today are also higher at 3.19 percent.

7 year adjustable mortgage loan interest rates are averaging 3.45 percent, up from the previous week’s average 7 year home mortgage rate of 3.42 percent. Today’s 7 year refinance interest rates are averaging 3.45 percent.

10 year adjustable loan rates are averaging 3.84 percent this week, up from last week’s average 10 year adjustable mortgage rate of 3.80 percent. 10 year home refinance rates today are also averaging 3.84 percent.

Adjustable Jumbo Mortgage Interest Rates Today

Current 1 year jumbo adjustable loan interet rates are averaging 5.32 percent, unchanged from the prior week’s average 1 year jumbo adjustable loan mortgage interest rate. 1 year jumbo refinance loan mortgage rates today are unchanged at 5.32 percent.

3 year adjustable jumbo mortgage rates today are higher averaging 4.03 percent, up from last week’s average 3 year jumbo adjustable loan rate of 4.01 percent. 3 year refinance jumbo mortgage rates today are also higher at 4.03 percent.

5 year adjustable jumbo mortgage rates today are averaging 3.57 percent, a decrease from last week’s average mortgage rate of 3.66 percent. 5 year jumbo mortgage refi rates today are also lower at 3.57 percent.

7 year jumbo adjustable mortgage rates today are averaging 4.35 percent, down from last week’s average 7 year home mortgage loan rate of 4.37 percent. 7 year jumbo refinance mortgage rates today are also lower, averaging 4.35 percent.

10 year loan jumbo loan interest rates are averaging 4.82 percent, down from the prior week’s average 10 year jumbo home mortgage rate of 4.95 percent. 10 year jumbo home loan refinance interest rates today are also lower averaging 4.82 percent.

Conforming Interest Only Adjustable Home Mortgage Rates Today

3 year interest only adjustable mortgage loan rates today are averaging 3.64 percent, up from last week’s average interest only mortgage loan rate of 3.56 percent. 3 year interest only adjustable refinance mortgage rates are also highest averaging 3.64 percent.

Current 5 year interest only adjustable loan rates are averaging 3.26 percent, down from last week’s average five year interest only mortgage loan rate of 3.27 percent.  5 year interest only adjustable refinance mortgage rates are averaging 3.26 percent.

7 year interest only adjustable mortgage loan rates are averaging 3.42 percent, down from last week’s average 7 year interest-only mortgage interest rate of 3.59 percent. 7 year adjustable refinance rate mortgages today are averaging 3.42 percent.

Interest Only Jumbo Adjustable Mortgage Rates Today

3 year jumbo interest only adjustable mortgage rates today are averaging 4.42 percent, down from last week’s average jumbo adjustable interest only mortgage rate of 4.43 percent. 3 year interest only adjustable jumbo refinance rates today are averaging 4.42 percent.

5 year adjustable jumbo loan interest only mortgage rates today are averaging 4.11 percent, down from last week’s average IO home mortgage interest rate of 4.28 percent. 5 year jumbo adjustable IO loan rates are also lower, averaging 4.11 percent.

7 year jumbo IO loan adjustable mortgage rates are averaging 4.69 percent, down from an average jumbo 7 year home mortgage rate of 4.79 percent last week. 7 year jumbo adjustable interest-only mortgage rates today are also averaging lower at 4.69 percent.

Home Equity Loan Rates Today

Current 10 year home equity loan rates are averaging 6.766 percent, up from the previous week’s average home equity loan rate of 6.677 percent.

15 year home equity rates today are averaging 7.095 percent, up from last week’s average home equity rate of 6.970 percent.

Home Equity Line of Credit Rates Today

Home equity line of credit rates are averaging 4.913 percent, unchanged from last week’s average HELOC rate.

 
Author: Brian McKay
October 10th, 2010

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