Mortgage Rates 5-10: Today’s Mortgage Rates, 30 Year Mortgage Rates at 4.62%

Mortgage Rates

Mortgage rates today are lower continuing the downtrend of the past couple of weeks. Mortgage rates might head higher this week because the markets are acting positively to economic news out of China that the country's exports rose 29.9% year over year to $155.69 billion. Strong economic numbers will cause U.S. Treasury yields to go higher which will drive current mortgage rates higher.

Today's conforming 30 year mortgage rates are averaging 4.62%, a decline from yesterday's average 30 year mortgage rate of 4.70%.

Conforming 15 year mortgage rates currently are averaging 3.88%, down from yesterday's average 15 year mortgage rate of 3.92%.

30 year jumbo mortgage rates today are averaging 5.15%, a decline from yesterday's average 30 year jumbo mortgage rate of 5.19%.

Bucking the downtrend are rates on 15 year jumbo loans. Current 15 year jumbo mortgage rates are averaging 4.45%, up from yesterday's average 15 year jumbo mortgage rate of 4.36%.

Average mortgage rates are as reported by Following is a more in-depth mortgage rate report was released by MBR yesterday.
In this week's Mortgage Rate Survey released by, current 30 year conforming mortgage rates are averaging 4.70% for the week ending May 9, 2011, up from last week's average 30 year mortgage rate of 4.69%.

15 year mortgage rates today are averaging 4.92%, down from last week's average 15 year mortgage rate of 4.00%. Just two week's ago 15 year mortgage rates were averaging 4.25%. .

Jumbo mortgage rates also headed lower this week over last. Current 30 year jumbo mortgage rates are averaging 5.19%, down from last week's average 30 year jumbo rate of 5.26%.

15 year jumbo mortgage loan rates are averaging 4.36%, down from the previous week's average 15 year rate of 4.57%.

Conventional Adjustable Mortgage Rates Today

The current average rate on 1 year adjustable mortgage loans is at 3.39%, unchanged from last week's average 1 year adjustable interest rate.

Current 3 year adjustable mortgage refinance rates and adjustable mortgage rates are averaging 3.15 percent, down from last week’s average 3 year rate of 3.27 percent.

Today's 5 year ARMs are averaging 3.12 percent, down  from the prior week’s average rate of 3.13 percent.

Current refinance rates and mortgage rates on 7 year adjustable mortgage loans are averaging 3.56 percent, down from the previous week’s average of 3.50 percent.

10 year adjustable loan rates are averaging 4.09 percent this week, up from last week’s average 10 year adjustable rate of 4.03 percent. Average refinance rates on 10 year home loans are also averaging 4.09 percent.

Adjustable Jumbo Mortgage Rates Currently

Today’s 1 year jumbo adjustable mortgage rates are averaging 4.05 percent, unchanged from the prior week’s average 1 year jumbo adjustable rate. Jumbo refinance loan rates are also unchanged at 4.05 percent.

3 year adjustable jumbo rates are averaging 3.67 percent, down from last week’s average 3 year jumbo rate of 3.92 percent. Refinance rates today on 3 year jumbo loans are also lower, averaging 3.67 percent.

5 year adjustable jumbo interest rates today are averaging 3.52 percent, down from last week’s average jumbo adjustable rate of 3.57 percent. Today’s refinancing interest rates are also averaging 3.52 percent.

7 year jumbo adjustable loan rates are averaging 4.16 percent, up from last week’s average 7 year adjustable rate of 4.15 percent. 7 year jumbo refinance rates are also higher at 4.16 percent.

10 year jumbo loan rates are averaging 4.57 percent, down from the prior week’s average 10 year jumbo rate of 4.71 percent. 10 year jumbo refinance interest rates are also lower, averaging 4.57 percent.

Current Conventional Interest Only Adjustable Mortgage Rates

Current 3 year interest only adjustable rates are averaging 3.16 percent, down from last week’s average loan rate of 3.17percent. 3 year interest only adjustable refi mortgage rates are also averaging 3.16 percent.

Today's 5 year interest only ARMs are averaging 3.26 percent, down from last week’s average 5 year rate of 3.27 percent. 5 year IO adjustable refinance mortgage loan rates are also averaging 3.26 percent.

7 year interest-only adjustable mortgage loan rates today are averaging 3.72 percent, down from last week’s average 7 year interest only mortgage rate of 3.73 percent. 7 year adjustable refi rates are averaging 3.72 percent.

Interest Only Jumbo Refinance Adjustable Mortgage Rates Current

3 year jumbo interest only loan rates are averaging 3.86 percent, down from last week’s average jumbo adjustable interest only rate of 4.29percent. 3 year interest only adjustable jumbo refi rates are also averaging 3.86 percent.

5 year adjustable jumbo interest only rates are averaging 3.85 percent, down from last week’s average IO home mortgage interest rate of 3.97 percent. 5 year jumbo adjustable IO loan rates are also averaging 3.85 percent.

7 year jumbo interest only adjustable rates are averaging 4.35 percent, down from last week’s average jumbo rate of 4.42percent. 7 year jumbo adjustable IO refi are also averaging 4.35 percent.

Home Equity Loan Rates Today

10 year home equity loan rates are averaging 6.77 percent, down from last week’s average home equity loan rate of 6.79%.

15 year home equity rates are averaging 6.86 percent, down from the prior week’s average home equity loan rate of 6.88 percent.

Today's Home Equity Line of Credit Rates

Home equity line of credit rates are averaging 4.95 percent, down from last week’s average rate HELOC rate of 4.99%. 
Author: Brian McKay
May 10th, 2011