Mortgage Rates: Lenders Lower Mortgage Rates, 5 Year Mortgage Rates at 2.96%

Mortgage Rates: Lenders Lower Mortgage Rates, 5 Year Mortgage Rates at 2.96%Mortgage rates declined today continuing the downtrend of the past week. Lenders have lowered mortgage rates in response to lower bond yields. Most lenders rates are pegged to 10 year bond yields. We can expect rates to head higher this weekend since 10 year bond yields are back above 2.00% at 2.10% today. Mortgage rates today on 30 year mortgages loans are averaging 4.05% and 15 year mortgage rates are averaging 3.37%.

Search and compare current mortgage rates and refinance rates today from several lenders by using our rate tables here: Today's Mortgage Rates. Unlike most websites, no personal information is needed to view a list of mortgage rates.




Jumbo mortgage rates have been lower all week long but will head higher this weekend. 30 year jumbo mortgage rates currently are averaging 4.54% and 15 year jumbo mortgage rates are averaging 3.85%.

Following is a more in-depth mortgage rate report released by Monitor Bank Rates this past Monday.

Mortgage Rates


Conforming Adjustable Mortgage Rates


1 year adjustable mortgage rates today are averaging 3.65%, up from last week’s average 1 year adjustable jumbo mortgage rate of 3.63%.

3 year adjustable mortgage rates today are averaging 2.97%, down from last week’s average 3 year adjustable mortgage rate of 3.18%.

5 year adjustable mortgage rates are averaging 2.99%, down from the prior week’s average 5 year adjustable rate of 3.25%.

Current 7 year adjustable mortgage rates are averaging 3.30%, up from the previous week’s average 7 year adjustable mortgage rate of 3.24%.

10 year adjustable mortgage rates currently are averaging 3.59%, an increase from last week’s average 10 year adjustable rate of 3.55%.

Adjustable Jumbo Mortgage Rates Todays


Current 1 year jumbo adjustable mortgage rates are averaging 4.05%, unchanged from last week’s average adjustable jumbo mortgage rate.

3 year adjustable jumbo rates today are averaging lower at 3.55%, up from last week’s average 3 year jumbo adjustable rate of 3.39%.

5 year adjustable jumbo mortgage rates and refinance rates currently are averaging 3.21%, up from last week’s average jumbo adjustable rate of 3.10%.

7 year jumbo adjustable mortgage rates and refinance rates today are averaging 3.54%, up from last week’s average 7 year adjustable home loan rate of 3.42%.

10 year jumbo loan rates and refi rates are averaging 3.89%, down from the prior week’s average 10 year jumbo home mortgage loan rate of 3.94%.

Today's Conventional Interest Only Adjustable Mortgage Rates


3 year interest only adjustable mortgage loan rates and refinancing rates are averaging 3.21%, up from last week’s average interest only mortgage loan rate of 3.43%.

5 year IO adjustable loan mortgage rates and mortgage refinance rates are averaging 3.23%, up from last week’s average five year interest only mortgage rate of 3.18%.

7 year interest only adjustable mortgage rates and refinance rates are averaging 3.49%, up from last week’s average 7 year interest-only mortgage interest rate of 3.36%.

Jumbo Interest Only Mortgage Rates Currently 


Today’s 3 year jumbo interest only adjustable loan rates and mortgage refinance rates are averaging 3.76%, up from last week’s average jumbo adjustable interest only rate of 3.54%.

Current 5 year adjustable jumbo interest only rates are averaging 3.46%, down from last week’s average IO home mortgage interest rate of 3.47%.

Today’s 7 year jumbo interest only adjustable rates and refinance loan rates are averaging 3.73%, up from last week’s average jumbo 7 year home mortgage loan rate of 3.67%.

Home Equity Loan Rates Today


10 year home equity loan rates are averaging 6.60%, down from last week’s average home equity loan rate of 6.66%.

15 year home equity rates are averaging 6.58%, down from last week’s average home equity loan rate of 6.64%.

Current HELOC Rates


Home equity line of credit rates currently are averaging 5.00%, down from last week’s average rate HELOC rate of 5.03%.
 
 
Author: Jason P. Jones
October 7th, 2011