Mortgage Rates Continue to Decline: 30 Year Mortgage Rates at 4.81%, 15 year Mortgage Rates at 4.28%

Mortgage rates continued to drift down this week over last. 30 year mortgage rates and 15 year mortgage rates have hit new lows for 2010. Today's 30 year mortgage rates are now averaging 4.81 percent, down from last week’s 30 year mortgage rate of 4.90 percent.

The most recent factor driving mortgage rates lower are the problems in Europe.  The problems started with Greece government debt, a decline in the euro and now European bank concerns. As the issues mount in Europe, investors have been buying U.S. Treasuries driving 10 year yields down to 3.15 percent. Lower Treasury yields drive mortgage rates lower.

Loan Type
Purchase    Refinance
State/City    Zip Code
Loan Amt Points FICO % Down
in 06101, All points, 740    Sort by:
No results found

Looking for current mortgage rates and mortgage refinance rates? Use our mortgage rate tables at to find a list of lenders offering mortgage rates in your in state.

Right now on our mortgage rate tables in New York, Bank of America is offering 30 year mortgage refinance rates at 4.875 percent with 1.375 mortgage discount points. Quicken Loans is also offering one of the best 30 year mortgage rates. Their current 30 year mortgage rate is 4.75 percent with 0.75 point. Searching for mortgage rates online we found Chase Bank is currently advertising 30 year mortgage rates at 4.75 percent.

15 year mortgage interest rates are also lower this week. Today's 15 year mortgage rates are averaging 4.28 percent, a decline from last week's average 15 year mortgage loan rate of 4.33 percent. On our rate tables, Garden City Mortgage has 15 year mortgage rates and refinance rates listed at 3.75 percent with 2 points.

Current Jumbo Mortgage Rates

Today's 30 year jumbo mortgage interest rates are averaging 5.38 percent, a decline from an average jumbo rate of 5.54 percent. Current 30 year jumbo refinance interest rates are also averaging 5.38 percent.

Today's 15 year jumbo mortgage rates are averaging 4.80 percent, a decline from last week’s average jumbo mortgage loan rate of 4.88 percent. Currently, 15 year jumbo refinance mortgage interest rates are also averaging 4.80 percent.

Current Adjustable Mortgage Rates (Conventional)

Current 1 year conventional adjustable rate mortgages are averaging 3.82 percent, a decline from an average 1 year adjustable loan mortgage rate of 3.85 percent. Average 1 year adjustable mortgage refinance rates also declined to 3.82 percent.

Current 3 year conventional adjustable mortgage interest rates are averaging 4.35 percent, down from last week’s average mortgage rate of 4.54 percent. Today's 3 year mortgage refinance rates are also down this week with the average 3 year refi rate at 4.35 percent.

Today's 5 year conventional adjustable rates are averaging 3.95 percent, up from the previous week's average mortgage rate of 3.67 percent. Current 5 year mortgage refinance rates are also averaging 3.95 percent. ING Direct is offering their 5/1 Orange mortgage rate at 3.875 percent.

Average 7 year conforming adjustable mortgage rates are at 4.13 percent, a decrease from an average 7 year mortgage rate of 4.14 percent. Currently, 7 year refinance rates on mortgages are also averaging 4.13 percent.

Current 10 year adjustable mortgage rates are at 4.49 percent this week, down from last week’s average 10 year mortgage interest rate of 4.51 percent. Current 10 year home loan refinance rates are averaging 4.49 percent.

Current Adjustable Mortgage Rates (Jumbo)

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

Average 3 year jumbo adjustable interest rates are at 5.05 percent, down from an average jumbo home loan rate of 5.11 percent. Today's 3 year jumbo home refinance rates are down to 5.05 percent.

Today's 5 year jumbo adjustable rates are at 4.40 percent, down from an average mortgage interest rate of 4.50 percent. Current 5 year jumbo mortgage refinance rates are averaging 4.40 percent.

Current 7 year jumbo rates are averaging 5.14 percent, down from an average loan mortgage interest rate of 5.32 percent. Current 7 year jumbo refinance rates are down to 5.14 percent.

Today's 10 year jumbo mortgage interest rates are averaging 5.56 percent, a decline from an average 10 year jumbo mortgage interest rate of 5.82 percent. Today's 10 year refinance jumbo mortgage rates are down to 5.56 percent.

Interest Only Mortgage Rates, Today

Today’s conventional 3 year interest only mortgage rate is averaging 4.52 percent, a decline from last week’s average mortgage rate of 4.57 percent.

Currently, 5 year interest only loan rates are averaging 3.75 percent, a decline from an average five year interest only mortgage rate of 3.83 percent.

Current 7 year interest-only home loans are averaging 4.25 percent, a decline from an average mortgage rate of 4.29 percent.

Interest Only Jumbo Mortgage Rates, Today

Today's 3 year jumbo interest only mortgage rates are averaging 5.47 percent, a slight decline from last week’s average jumbo mortgage rate of 5.49 percent.

5 year jumbo IO loan mortgage rates are averaging 5.06 percent today, a decrease from an average jumbo mortgage rate of 5.17 percent.

7 year jumbo mortgage rates are averaging 5.53 today, a decline from an average jumbo 7 year rate of 5.73 percent.

Home Equity Loan Rates, Today

Current 10 year home equity loan rates are averaging 7.293 percent, down from last week’s average home equity loan rate of 7.297 percent.

15 year home equity rates are averaging 7.416 percent this week, down from last week’s average home equity rate of 7.418 percent.

Current Home Equity Line of Credit Rates (HELOC)

Average home equity line of credit rates are averaging 4.664 percent this week, unchanged from last week’s average HELOC rate.
Author: Brian McKay
May 26th, 2010
Posted in: Mortgage Rates