Mortgage Rates: Today’s Mortgage Rates Hit Low: 30 Year Mortgage Rates – 4.81%

Mortgage rates are lower again this week and have hit a new low for the year. Current 30 year mortgage rates are now averaging 4.81 percent, a decline from last week's 30 year mortgage rate of 4.90 percent. Lower mortgage rates might be here for a while if Europe falls into a prolonged economic slump and derails the world economic recovery. Slower growth will keep a lid on inflation which will lead to lower interest rates and mortgage rates.

These current low mortgage rates and the First Time Home Buyer tax credit helped existing home sales last month. Yesterday the National Association of Realtors reported an increase in existing home sales of 7.6 percent to a seasonally adjusted annual rate of 5.77 million homes.

Searching for today's mortgage rates and refinance rates? Use our mortgage rate tables at MortgageRates.MonitorBankRates.com to find a list of lenders in your state offering current mortgage rates and refinance rates.

Right now on our mortgage rate tables in the state of California, Bank of America is offering 30 year mortgage refinance rates at 4.875 percent with 1.501 mortgage discount points.

15 year mortgage rates also declined this week over last. Current 15 year mortgage rates are averaging 4.28 percent, down slightly from the prior week’s average 15 year mortgage interest rate of 4.33 percent. On our rate tables, Quicken Loans is offering 15 year mortgage rates and refinance rates at 4.25 percent.

Jumbo Mortgage Rates, Current

Current 30 year jumbo mortgage rates are averaging 5.38 percent, down from last week’s average jumbo mortgage rate of 5.54 percent. Today's 30 year jumbo refinance mortgage rates are also averaging 5.38 percent. Wells Fargo is currently advertising 30 year jumbo mortgage rates at 5.50 percent.

Current 15 year jumbo mortgage rates are averaging 4.80 percent, down from last week’s average jumbo mortgage rate of 4.88 percent. Current 15 year jumbo refinance mortgage rates are also down this week over last averaging 4.80 percent.

Today's Conforming Adjustable Mortgage Rates

Today's 1 year conforming  adjustable mortgage rate is averaging 3.82 percent, down from the previous week's average 1 year adjustable mortgage rate of 3.85 percent. Current 1 year adjustable refinance mortgage rates also declined to 3.82 percent. Right now on our mortgage rates table, PenFed is offering 1 year adjustable rate mortgages at 2.875 percent with no points.

3 year conforming adjustable mortgage rates are averaging 4.35 percent, a decline from last week’s average interest rate of 4.54 percent. Current 3 year mortgage refinance rates are also down this week to 4.35 percent. Another short term mortgage rate is from Mutual Security Credit Union, who is currently offering 2/1 ARMs at 2.99 percent.

Current 5 year conforming adjustable mortgage rates are averaging 3.95 percent, an increase from the prior week's average loan mortgage rate of 3.67 percent. Today's 5 year mortgage refinance rates are also averaging 3.95 percent this week. LendingTree is currently offering 5/1 adjustable mortgage rates at 3.25 percent.

Today's 7 year conforming adjustable mortgage rates are averaging 4.13 percent, down from last week’s average 7 year mortgage interest rate of 4.14 percent. Current 7 year refinance rates were also down to 4.13 percent.

Conforming 10 year adjustable mortage rates are averaging 4.49 percent, a decline from last week’s average 10 year mortgage rate of 4.51 percent. Today's average 10 year home loan refinance rates are at 4.49 percent.

Jumbo Adjustable Mortgage Rates

Today's 1 year jumbo adjustable mortgage rates are averaging 5.95 percent today, unchanged from last week’s average 1 year jumbo adjustable mortgage rate. Today’s 1 year jumbo refinance rates are also unchanged this week at 5.95 percent.

Currently, 3 year jumbo adjustable interest rates are averaging 5.05 percent, a decline from last week’s average jumbo home loan rate of 5.11 percent. Current 3 year home jumbo mortgage refinance rates are also down this week, averaging 5.05 percent.

Current 5 year jumbo adjustable rates are averaging 4.40 percent, a decline  from an average mortgage rate of 4.50 percent last week. Today's 5 year jumbo refinance rates are averaging 4.40 percent, down from last week’s average 5 year refi rate of 4.50 percent.

The average 7 year jumbo ARM is at 5.14 percent this week, a decrease from last week’s average loan mortgage rate of 5.32 percent. Today’s 7 year jumbo refinance rates are also averaging 5.14 percent.

Current 10 year jumbo mortgage rates are averaging 5.56 percent, down from last week’s average 10 year jumbo mortgage interest rate of 5.82 percent. Current 10 year jumbo loan refinance rates are also down to 5.56 percent this week over last.

Current Interest Only Mortgage Rates

Today’s conforming 3 year interest only mortgage rates are averaging 4.52 percent this week, down from last week’s average mortgage interest rate of 4.57 percent.

Current 5 year interest only home loans are averaging 3.75 percent this week, down from last week’s average five year interest only mortgage rate of 3.83 percent.

7 year IO home loans are averaging 4.25 percent, down from an average interest rate of 4.29 percent last week.

Interest Only Jumbo Mortgage Rates

Current 3 year jumbo IO loans are averaging 5.47 percent this week, down from last week’s average jumbo interest mortgage rate of 5.49 percent.

Currently, 5 year jumbo IO loan mortgage rates are averaging 5.06 percent, down from the prior week’s average IO mortgage rate of 5.17 percent.

The average 7 year jumbo IO loan is averaging 5.53 percent this week, down from last week’s average jumbo 7 year rate of 5.73 percent.

Today's Home Equity Loan Rates

Current 10 year home equity loan rates are averaging 7.293 percent, down from last week’s average home equity loan rate of 7.297 percent.

15 year home equity rates are averaging 7.416 percent this week, down from last week’s average home equity rate of 7.418 percent.

Today's Home Equity Line of Credit Rates (HELOC)

Average home equity line of credit rates are averaging 4.664 percent this week, unchanged from last week’s average HELOC rate.