Mortgage rates today are stable, no big changes in rates. The current average 30 year conforming mortgage rate is at 4.62%, a slight increase from yesterday's average 30 year rate of 4.60%. This morning the Commerce Department said new home construction and permits for future building both declined in April. Housing starts dropped 10.6 percent to a seasonally adjusted annual rate of 523,000 units. In a normal housing market the annual rate would be more than a million.

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The biggest drag on the 10.6 percent drop was a larger drop in multi-family construction which had a 24 percent decline. New single family home construction was down by 5 percent.

A glut of existing homes for sale, foreclosures and short sales are competing with new home sales and are dragging down home prices. New home builder sentiment is stuck at a low level of 16 six out of the past seven months in a report released yesterday by the National Association of Home Builders.

Today's 30 year jumbo mortgage rates are averaging 5.10%, down from yesterday's average jumbo rate of 5.14% as reported by monitorbankrates. If weak economic data continues to be released over the next couple of weeks we could see 30 year jumbo mortgage rates below 5.00%.

15 year mortgage rates currently are averaging 3.87%, unchanged from yesterday's average 15 year rate. 15 year jumbo mortgage rates are averaging 4.45%, down from yesterday's average 15 year jumbo rate of 4.47%.

Mortgage Rates: Average Rates 5/17

Average Fixed Mortgage Rates

30 Year Fixed Conforming Rate 4.63%
30 Year Fixed Jumbo Rate 5.10%
15 Year Fixed Conforming Rate 3.87%
15 Year fixed Jumbo Rate 4.46%

Average Adjustable Mortgage Rates

1 Year ARM Conforming Rate 6.17%
1 Year ARM Jumbo Rate 4.05%
3/1 Year ARM Conforming Rate 3.11%
3/1 Year ARM Jumbo Rate 3.93%
5/1 Year ARM Conforming Rate 3.37%
5/1 Year ARM Jumbo Rate 3.48%
7/1 Year ARM Conforming Rate 3.51%
7/1 Year ARM Jumbo Rate 4.08%
10/1 Year ARM Conforming Rate 4.03%
10/1 Year ARM Jumbo Rate 4.52%

Average Interest Only Mortgage Rates

Interest Only: 3/1 Year ARM Conforming Rate 3.27%
Interest Only: 3/1 Year ARM Jumbo Rate 4.03%
Interest Only: 5/1 Year ARM Conforming Rate 3.27%
Interest Only: 5/1 Year ARM Jumbo Rate 3.82%
Interest Only: 7/1 Year ARM Conforming Rate 3.75%
Interest Only: 7/1 Year ARM Jumbo Rate 4.28%

Home Equity & HELOC Rates

Home Equity Line of Credit Rate 4.95%
Home Equity Loan - 10 Years Rate 6.85%
Home Equity Loan - 15 Years Rate 6.87%

Find today's mortgage rates in your state by searching our rate tables. We also free mortgage rate widgets, including average mortgage rates by state, you can use to display on your website.

Loan Type

Purchase Refinance with Cash out Refinance

State

Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District Of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming

FICO Score

Superior (780-850) Exceptional (760-779) Excellent (740-759) Very Good (720-739) Good (700-719) Above Average (680-699) Average (660-679) Fair (640-659) Need Improvement (620-639) Poor (350-620)

Loan Amount

$

Points

Up to 0 points Up to 0.5 points Up to 1 points Up to 1.5 points Up to 2 points Up to 2.5 points Up to 3 points

LTV

%

Loan Term

 15-Year Fixed  20-Year Fixed  30-Year Fixed  5-Year ARM  7-Year ARM  10-Year ARM

Mortgage Rates December 11, 2023