Mortgage Rates Continue to Decline on Weak Economy

A weak struggling economy continues to put downward pressure on bond yields and mortgage rates. The Federal Reserve report, known as the Beige Book, showed the economy slowed in many U.S. regions for the first time this year. The negative news sent bond yields and stock prices down today. Mortgage rates will continue to decline in the coming days on the weak economic news.

Find mortgage rates today by searching our mortgage rate list at MortgageRates.MonitorBankRates.com. You can view current mortgage rates from several lenders and unlike most other websites, no personal information is needed to view a list of rates.




Current 30 year mortgage rates are averaging 4.45%, a decline from yesterday’s average 30 year mortgage interest rate of 4.46% as reported by MonitorBankRates.com. 

Today's 15 year mortgage rates are averaging 3.72%, down slightly from yesterday’s average 15 year mortgage loan rate of 3.73%.

30 year jumbo mortgage rates currently are averaging 4.99%, down slightly from yesterday’s 30 year jumbo mortgage interest rate of 5.00%.

15 year jumbo mortgage loan rates Today are averaging 4.25%, up from yesterday’s average 15 year jumbo loan rate of 4.20%. 

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

Mortgage Rates, Current


Conventional Adjustable Mortgage Rates Today and Conforming Adjustable Refinance Rates


The current refinancing rate and mortgage rate on 1 year adjustable rates are averaging 2.94 percent, a decline from last week’s average 1 year adjustable home mortgage refi rate and loan rate of 2.96 percent.

Today’s 3 year adjustable mortgage refinance rates and adjustable mortgage rates are averaging 3.08 percent, up from last week’s average 3 year adjustable mortgage rate of 3.03 percent.

Refinance rates and mortgage rates today on 5 year adjustable mortgages are averaging 3.05 percent, down from the prior week’s average rate of 3.41 percent.

Refinance mortgage rates and mortgage rates currently on 7 year adjustable home loans are averaging 3.31 percent, down from the previous week’s average 7 year loan rate of 3.47 percent.

10 year adjustable mortgage loan rates are averaging 3.84 percent this week, down from last week’s average 10 year adjustable rate of 3.19 percent. Current mortgage refinance rates on 10 year home loans are also averaging 3.99 percent.

Today's Adjustable Jumbo Refinance Rates and Jumbo Mortgage Rates


1 year jumbo adjustable loan rates are averaging 4.05 percent, unchanged from the prior week’s average 1 year jumbo adjustable loan interest rate. Refinance rates on 1 year jumbo loans are also averaging 4.05 percent.

3 year adjustable jumbo rates are averaging higher at 3.77 percent, down from last week’s average 3 year jumbo adjustable rate of 3.85 percent. Today’s refinance interest rates on 3 year jumbo loans are also lower, averaging 3.77 percent.

5 year adjustable jumbo rates today are averaging 3.33 percent, a decrease from last week’s average jumbo adjustable rate of 3.44 percent. Today’s refinancing mortgage interest rates are also averaging 3.33 percent.

Current 7 year jumbo adjustable loan rates are averaging 3.94% percent, down from last week’s average 7 year adjustable home loan rate of 4.01 percent. 7 year jumbo refinance loan rates are also lower at 3.94% percent.

10 year jumbo loan rates are averaging 4.38 percent, down from the prior week’s average 10 year jumbo home loan rate of 4.48 percent. 10 year jumbo refinance interest rates are also lower, averaging 4.38 percent.

Conventional Interest Only Adjustable Mortgage Rates Today and Adjustable Interest Only Refinancing Rates


3 year interest only adjustable mortgage loan rates are averaging 3.17 percent, down from last week’s average interest only mortgage loan rate of 3.26 percent. 3 year interest only adjustable refinance mortgage rates are also averaging 3.17 percent.

5 year IO adjustable loan rates are averaging 3.08 percent, down from last week’s average five year interest only mortgage loan rate of 3.19 percent. Current 5 year interest only adjustable refinance mortgage loan rates are also averaging 3.08 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 3.73percent. 7 year adjustable refi loan rates are averaging 3.42 percent.

Current Interest Only Jumbo Mortgage Refinancing Rates and Interest Only Jumbo Mortgage Loan Rates


3 year jumbo interest only adjustable loan rates are averaging 4.12 percent, up from last week’s average jumbo adjustable interest only rate of 3.76%. 3 year interest only adjustable jumbo refi rates are also averaging 4.12% percent.

5 year adjustable jumbo interest only rates are averaging 3.76 percent, down from last week’s average IO home mortgage interest rate of 3.85%. 5 year jumbo adjustable IO loan rates are also averaging at 3.76 percent.

7 year jumbo interest only adjustable rates are averaging 4.14 percent, down from last week’s average jumbo 7 year home loan rate of 4.24%. Current 7 year jumbo adjustable interest-only rates are also averaging 4.14  percent.

Today Home Equity Loan Rates


10 year home equity loan rates are averaging 6.77 percent, unchanged from last week’s average home equity loan rate.

15 year home equity rates are averaging 6.87 percent, unchanged from the prior week’s average home equity loan rate.

HELOC Rates Current


Home equity line of credit rates are averaging 4.95 percent, unchanged from last week’s average rate HELOC rate.

Free Mortgage Rate Widget


Monitor Bank Rates has free mortgage rates widgets for your website. You can display national average mortgage rates and state average mortgage rates by using our mortgage rate widgets here: Free Mortgage Rates Widgets.
 
 
Author: Brian McKay
June 8th, 2011
Posted in: Bank Mortgage Rates