Current Mortgage Refinance Rates Higher

Current mortgage refinance rates are up today, continuing the trend of the past couple of weeks. 30 year refinance rates are back above 5.00 percent at 5.16 percent as of this morning. 30 year refinance rates are at the highest level since January 11, 2010 when 30 year rates were averaging 5.17 percent. The recent low of 4.92 percent was on March 22, 2010.

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The current average 15 year conforming refinance rate is at 4.47 percent today, up from the prior week’s average 15 year rate of 4.35 percent. Conforming refinance rates are expected to head higher since the Fed completed their purchase of mortgage-backed securities at the end of March. Jumbo refinance rates are not expected to move that much because the Fed hasn't supported the jumbo MBS market.

Current 30 year jumbo refinance rates are averaging 5.61 percent today, up from a jumbo refinance rate of 5.57 percent. 15 year jumbo refinance rates have declined to 5.05 percent today, down from a jumbo rate of 5.16 percent yesterday.

Mortgage Refinance Rates

Adjustable Mortgage Refinance Rates – Conforming Loans

1 year adjustable mortgage refinance rates are averaging 4.63% today, up from an average 1 year loan refinance rates averaged 4.48%.

Current 3 year adjustable refi rates are averaging 4.66%,  an increase from an average mortgage loan refinance rate of 4.51%.

5 year adjustable refinance interest rates are currently averaging 3.98%, up from an mortgage refinance interest rate of 3.97%.

7 year conforming mortgage refinance rates are averaging 4.61%, an increase from an average mortgage refinance rate of 4.42%.

The average 10 year refinance mortgage rates is at 4.89% today, up from an average refinance rate of 4.82%.

Refinance Jumbo Mortgage Rates

The average 1 year jumbo adjustable refinance rate is currently at 5.59%, unchanged from yesterday's average refinance rate.

3 year jumbo adjustable refinance rates are averaging 5.15% today, an increase from an average rate of 5.14%.

The average 5 year jumbo loan refinance interest rate is at 4.65%, up from an average bank refinance rate of 4.63%.

7 year jumbo refinance home loan rates are at 5.50%, up from an average refinance home loan rate of 5.34%.

10 year home refi rates are averaging 5.91%, up from an average 10 year home refinance rate of 5.88%.
Author: Brian McKay
April 6th, 2010
Posted in: Mortgage Rates