Mortgage Rates Lower Again: 30 Year Mortgage Rates at 4.38%, 30 Year Jumbo Mortgage Rates Now Below 5.00%

Mortgage rates declined again overnight continuing the downtrend of the past few months. 30 year conforming mortgage rates are averaging 4.38 percent, down from an average 30 year mortgage rate of up 4.48 percent on Monday. 30 year mortgage rates have been declining since the beginning of the month. On August 2, 2010, 30 year mortgage rates were averaging 4.71 percent. In early April 30 year mortgage rates were averaging 5.16 percent.

Unfortunately record low mortgage rates isn't helping the housing market recover. New homes sales fell to their lowest level ever since the government started tracking new home sales 40 years ago. The housing market might drag the economy back into a recession if home prices continue to decline.




30 year jumbo mortgage rates are now under 5.00 percent averaging 4.92 percent, down from Monday's average 30 year jumbo mortgage rate of 5.05 percent. In early April of 2010, 30 year jumbo mortgage rates were averaging 5.61 percent.

Current 15 year conforming mortgage rates are averaging 3.83 percent, unchanged from Monday's average 15 year conforming mortgage rate. 15 year jumbo mortgage rates are lower this morning. Current 15 year jumbo mortgage interest rates are averaging 4.36 percent, down from Monday's average 15 year jumbo mortgage rate of 4.50 percent.

Mortgage Rates Today 8/29/10


Average Conforming Mortgage Interest Rates



  • 30 Year Fixed Conforming Mortgage Rates 4.38%

  • 15 Year Fixed Conforming Mortgage Rates 3.83%


Mortgage Rates Jumbo



  • 30 Year Jumbo Fixed Mortgage Rates 4.92%

  • 15 Year Jumbo Fixed Mortgage Rates 4.36%


Adjustable Mortgage Rates Conventional



  • 1 Year Adjustable Mortgage Rates 3.17%

  • 3 Year Adjustable Mortgage Rates 3.79%

  • 5 Year Adjustable Mortgage Rates 3.44%


Jumbo Adjustable Mortgage Rates



  • 1 Year Adjustable Mortgage Rates 5.35%

  • 3 Year Adjustable Mortgage Rates 4.13%

  • 5 Year Adjustable Mortgage Rates 3.73%


Following is a more in-depth weekly average mortgage rates survey report released by MonitorBankRates.com.

Mortgage Rates


Current 30 year mortgage rates are averaging 4.48 percent, a decline from the previous week’s average 30 year mortgage rate of 4.52 percent. Today’s 30 year refinance mortgage rates are also down averaging 4.48 percent.

15 year mortgage rates today are averaging 3.83 percent, down from the previous week’s average 15 year mortgage rate of 3.95 percent. 15 year mortgage refinance rates currently are averaging 3.83 percent. 

Jumbo Mortgage Rates


30 year jumbo mortgage rates are averaging 5.05 percent, a decline from last week’s average 30 year year jumbo mortgage rate of 5.17percent. 30 year jumbo refinance mortgage rates are also down to 5.05 percent.

15 year jumbo mortgage rates are averaging 4.50 percent, down 23 basis points from last week’s average jumbo mortgage rate of 4.73 percent. Today’s 15 year jumbo refinance mortgage rates are also averaging 4.50 percent.

Conforming Adjustable Mortgage Rates


Current 1 year adjustable mortgage rates are averaging 3.19 percent, unchanged from last week’s average 1 year adjustable home mortgage interest rate. Today’s 1 year conforming adjustable refinance mortgage interest rates are also unchanged this week.

Today 3 year adjustable mortgage rates today are averaging 4.06 percent, up slighlty from last week’s average 3 year adjustable rate mortgage of 4.04 percent. 3 year mortgage refinance rates today are also averaging 4.06 percent.

5 year adjustable mortgage rates today are averaging 3.45 percent, down from the prior week’s average mortgage rate oif 3.54 percent. Current 5 year refinance mortgage rates today are also averaging 3.45 percent.

7 year adjustable mortgage interest rates today are averaging 3.72 percent this week, down from the previous week’s average 7 year home mortgage rate of 3.81 percent. Current 7 year mortgage refinance rates are also lower averaging  3.72 percent.

10 year adjustable mortgage interest rates are averaging 4.01 percent this week, down from last week’s average 10 year adjustable mortgage rate of 4.08 percent. Today’s 10 year home mortgage refinance rates are also lower this week averaging 4.01 percent.

Jumbo Adjustable Mortgage Rates


1 year jumbo adjustable mortgage rates today are averaging 5.35 percent, no change from last week’s average 1 year jumbo adjustable mortgage interest rate. Today’s 1 year jumbo refinance mortgage rates are also averaging 5.35 percent.

3 year jumbo adjustable mortgage rates today are averaging 4.16 percent, unchanged from last week’s average jumbo mortgage rate. Today’s 3 year jumbo refinance mortgage rates are also averaging 4.16 percent.

Today’s 5 year jumbo adjustable home mortgage rates are averaging 3.87 percent this week, down from last week’s average mortgage rate of 3.89 percent. Current 5 year jumbo mortgage refinance rates are also down to 3.87 percent.

Today’s 7 year jumbo adjustable mortgage rates are averaging 4.42 percent, down from last week’s average 7 year home mortgage rate of 4.47 percent. Current 7 year jumbo refinance mortgage rates are also lower averaging 4.42 percent.

10 year jumbo mortgage rates are averaging 5.02 percent, up from the previous week’s average 10 year jumbo home mortgage rates of 5.01 percent. 10 year jumbo home refinance interest rates are also up averaging 5.02 percent.

Conforming Interest Only Adjustable Mortgage Rates


Current 3 year interest only adjustable mortgage rates are averaging 4.09 percent, down from last week’s average interest only mortgage loan rate of 4.19 percent. Today’s 3 year interest only adjustable refinance mortgage rates are also down averaging 4.09 percent.

5 year interest only adjustable home mortgage rates are averaging 3.62 percent, down from last week’s average five year interest only mortgage loan rate of 3.72 percent. Current 5 year interest only adjustable refinance mortgage rates are also lower averaging 3.62 percent.

7 year interest only adjustable mortgage rates currently are averaging 3.86 percent, down from last week’s average 7 year interest-only mortgage interest rate of 3.96 percent. Current 7 year adjustable refinance rate mortgages are lower averaging 3.86 percent.

Interest Only Jumbo Adjustable Mortgage Rates


Today’s 3 year jumbo interest only adjustable mortgage rates are averaging 4.55 percent, no change from last week’s average jumbo adjustable interest only mortgage rate. Current interest only adjustable jumbo refinance rates are also unchanged.

5 year adjustable jumbo interest only mortgage rates are at 4.29 percent, down from an average IO home mortgage interest rate of 4.32 percent the previous week. Today’s 5 year jumbo adjustable IO loan rates are also averaging 4.29 percent.

7 year jumbo IO adjustable mortgage rates currently are averaging 4.77 percent, down from an average jumbo 7 year home mortgage rate of 4.84 percent last week. 7 year jumbo adjustable interest-only mortgage rates are also down averaging 4.77 percent.

Home Equity Loans


Current 10 year home equity loan rates are averaging 7.009 percent, down from the previous week’s average when home equity loans averaged 7.115 percent.

15 year home equity rates today are averaging 7.377 percent, down from last week’s average home equity loan rate of 7.433 percent.

Home Equity Line of Credit (HELOC)


The current average home equity line of credit rate is averaging 4.762 percent this week, no change from last week’s average HELOC rate.

Keeping track of today’s mortgage rates? Use our mortgage rate widget to keep track of national average mortgage rates and state mortgage rates. Use our free mortgage calculator to see how much your monthly mortgage payments will be on a home mortgage loan
 
 
Author: Brian McKay
August 29th, 2010