Mortgage Rates Hit Yet Another Record Low: 30 Year Mortgage Rates at 4.36%, 15 Year Mortgage Rates at 3.86%

Mortgage Rates


Mortgage rates hit another record low in the most recent mortgage survey released yesterday. Fixed mortgage rates have hit new record lows and 5 year adjustable mortgage rates remain at an all-time low in Freddie Mac's (OTC: FMCC) Primary Mortgage Market Survey for the week ending August 26, 2010. 10 year bond yields are starting to drift down again this week. If yields continue to decline fixed mortgage rates will also be lower in next week's mortgage rate survey.




Fixed conforming 30 year mortgage rates are averaging 4.36 percent for the week ending August 26, 2010, a decline from the prior week’s average 30 year mortgage rate of 4.42 percent. Mortgage discount points on 30 year home mortgages averaged 0.7 points, unchanged from last week’s average mortgage points.

Fixed conforming 15 year mortgage rates are averaging 3.86 percent for the week ending August 26, 2010, down from last week’s average of 15 year mortgage rate of 3.90 percent. Average mortgage discount points on 15 year mortgages remained unchanged at 0.6 mortgage points.

5 year U.S. Treasury indexed adjustable mortgage rates remain at the lowest point ever recorded in Freddie Mac's PMMS. 5 year Treasury indexed adjustable mortgage rates are averaging 3.56 percent for the week ending August 26, 2010, unchanged from last week’s average 5 year adjustable mortgage rate. Average mortgage discount points on 5 year adjustable mortgages declined to 0.6 points, down from the previous week’s average of 0.7 points.

1 year U.S. Treasury indexed adjustable mortgage rates are averaging 3.52 percent for the week ending August 26, 2010, down from the previous week’s average 1 year adjustable mortgage rate of 3.53 percent. Mortgage discount points averaged 0.7 points, unchanged from the previous week’s average.

Following is a more in-depth mortgage rate report released by MonitorBankRates.com earlier this week:

Current 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 slightly 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. Mortgage rates in New York are averaging slightly higher this week.

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. New Jersey mortgage rates are also averaging 3.54 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. Mortgage rates in Florida are 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. Jumbo mortgage rates in California are slightly lower than the national average jumbo rate.

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.

MonitorBankRates offers free mortgage rates widgets you can use on your website. National average mortgage rates widgets and state mortgage rates widgets are available for free. We also offer a free mortgage calculator, CD calculator and CD ladder calculator you can use to calculate your mortgage payments and certificate of deposit investments.
 
 
Author: Brian McKay
August 27th, 2010
Posted in: Mortgage Rates