Mortgage Rates Above All-Time Low: 30 Year Mortgage Rates at 4.76%, 15 Year Mortgage Rates at 4.21%

Mortgage rates were down again this week over last week. Current 30 year mortgage rates are down for three consecutive weeks and are just above an all-time low. 30 year mortgage rates are averaging 4.76 percent this week, down from the prior week’s average mortgage rate of 4.85 percent. 30 year mortgage rates haven't been this low since late last year when the Federal Reserve was propping up the mortgage market by buying mortgage-backed securities (MBS).

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Mortgage rates have been heading lower the past couple of weeks because of the markets concern about the European government debt crisis. Since the problems began a few weeks ago bond yields and mortgage rates have headed lower. Although mortgage rates are low right now, rates will head higher very soon. St. Louis Federal Reserve Bank President, James Bullard said this past Monday that the debt crisis in Europe is unlikely to derail the global economic recovery.

Current Mortgage Rates


30 year fixed mortgage rates are averaging 4.76 percent, down from last week’s average 30 year mortgage interest rate of 4.85 percent. Today's 30 year mortgage refinancing rates are also down, averaging 4.75 percent.

Current 15 year mortgage rates are down to 4.21 percent, down from an average 15 year mortgage rate of 4.27 percent. The current average 15 year home mortgage refinance rate is also 4.21 percent.

Jumbo Mortgage Rates, Current


Current 30 year jumbo mortgage rates are averaging 5.36 percent, down from an average jumbo mortgage rate of 5.49 percent. Current 30 year jumbo refinance rates are lower this week averaging in at 5.36 percent.

Current 15 year fixed jumbo mortgage rates are averaging 4.81 percent, a decline from an average jumbo mortgage loan rate of 4.92 percent. Today's 15 year jumbo refinance mortgage loans are also lower averaging 4.81 percent.

Today's Adjustable Mortgage Rates


Today's 1 year conforming adjustable mortgage interest rates are averaging 3.71 percent, down from an average 1 year adjustable interest mortgage rate of 3.73 percent last week. Current 1 year adjustable refinance mortgage interest rates are averaging 3.71 percent.

The current average 3 year conforming adjustable mortgage rate is averaging 4.32 percent, up from an average mortgage rate of 4.29 percent last week. Current 3 year refinance mortgage interest rates are also up this week averaging 4.32 percent.

5 year conforming adjustable mortgage interest rates are averaging 3.75 percent, up from an average home mortgage interest rate of 3.73 percent. 5 year refinance home mortgage rates are averaging 3.75 percent.

7 year conforming adjustable mortgage rates are averaging 4.15 percent, down from last week’s average 7 year  mortgage home interest rate of 4.21 percent. 7 year mortgage refinance rates were also down to 4.15 percent this week.

10 year conforming adjustable  mortgage rates are averaging 4.45 percent, up from an average 10 year home mortgage rate of 4.41 percent last week. 10 year home loan mortgage refinance rates are averaging 4.45 percent.

Jumbo Adjustable Home Mortgage Rates


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

3 year jumbo adjustable mortgage rates today are averaging 4.94 percent, down from an average jumbo mortgage rate of 5.00 percent last week. 3 year jumbo mortgage refinance rates are up to 4.94 percent.

5 year jumbo adjustable mortgage interest rates are averaging 4.24 percent, a decline from last week’s average home mortgage rate of 4.40 percent. 5 year jumbo home refinance loan rates are averaging 4.24 percent.

7 year jumbo adjustable mortgage rates are averaging 4.98 percent, down from last week’s average 7 year home loan rate of 5.26 percent. 7 year jumbo refinance rates are also down to 4.98 percent.

10 year jumbo home mortgage rates today are averaging 5.58 percent, down from an average 10 year jumbo home mortgage rate of 5.65 percent last week. 10 year jumbo home loan refinance rates are also averaging 5.58 percent this week.

Interest Only Mortgage Rates


3 year interest only conforming mortgage rates are averaging 4.51 percent,up from last week’s average IO home mortgage rate of 4.43 percent.

5 year conventional interest only mortgage loans today are averaging 4.88 percent, up from last week’s average five year interest only mortgage  rate of 4.84 percent.

7 year IO home mortgage rates are averaging 4.27 percent, down from an average mortgage rate of 4.35 percent last week.

Jumbo Interest Only Mortgage Rates


The average 3 year jumbo interest only mortgage rates are averaging 5.51 percent this week, up from an average jumbo interest mortgage rate of 5.47 percent last week.

The current average 5 year jumbo IO loan home mortgage rates are averaging 4.82 percent, down from an average IO home mortgage rate of 5.01 percent.

Today’s 7 year jumbo IO home mortgage loans are averaging 5.30 percent, down from an average jumbo 7 year home mortgage rate of 5.51 percent.

Home Equity Loan Rates


10 year home equity loan rates are averaging 7.139 percent, a decrease from last week’s average home equity loan rate of 7.255 percent.

15 year home equity rates are averaging 7.446 percent this week, up from last week’s average home equity rate of 7.416.

Home Equity Line of Credit Rates (HELOC)


The current average home equity line of credit rates are averaging 4.777 percent this week, unchanged from last week’s average HELOC rate.
 
 
Author: Brian McKay
June 17th, 2010
Posted in: Mortgage Rates