Mortgage Rates Lower on FOMC Statement: Current 30 Year Mortgage Rates at 4.74%, 15 Year Mortgage Rates at 4.16%

Mortgage rates continue to head lower this week. Current 30 year mortgage rates are averaging 4.74 percent, down from an average 30 year mortgage rate of 4.76 percent eariler this week. 15 year mortgage rates today are also lower compared Monday's average 15 year mortgage rate. The current average 15 year mortgage rate is at 4.16 percent, down from an average mortgage rate of 4.25 percent.

Looking for current mortgage rates? Use our mortgage rate tables at MortgageRates.MonitorBankRates.com to find the best mortgage rates in your state. No personal information is needed for a list of today's mortgage rates, unlike most websites.




Current 30 year jumbo mortgage rates are averaging 5.25 percent, down 15 basis points from Monday's average 30 year jumbo mortgage rate of 5.40 percent. 15 year jumbo mortgage rates are averaging 4.76 percent, down from an average jumbo mortgage rate of 4.85 percent.

The Federal Reserve released a gloomy statement yesterday on economic activity that sent 10 year U.S. bond yield sharply lower. The current 10 year bond yield is at 3.09 percent. Mortgage rates are following the trend lower and current mortgage rates will head even lower this week. Short term adjustable mortgage rates were also sharply lower. The current average conforming 1 year adjustable mortgage rate is 3.589 percent, down from an average mortgage rate of 3.71 percent on Monday.

Following is a report on average mortgage rates released by MonitorBankRates.com this past Monday.

Home Mortgage Rates


Current 30 year fixed mortgage rates are averaging 4.76 percent, up fractionally from last week’s average 30 year mortgage rate of 4.765 percent. The current average 30 year mortgage refinancing rate is also slightly higher this week at 4.76 percent.

15 year fixed mortgage rates are averaging 4.25 percent this week, unchanged from the prior week’s average 15 year mortgage rate. 15 year refinance mortgage loan rates are averaging 4.25 percent.

Jumbo Mortgage Rates Today


30 year jumbo mortgage rates today are averaging 5.40 percent, down from an average jumbo mortgage loan rate of 5.43 percent. Current 30 year jumbo refinance rates are also averaging 5.40 percent this week.

Current 15 year jumbo mortgage loan rates are averaging 4.85 percent, a decline from an average jumbo mortgage rate of 4.89 percent last week. 15 year jumbo mortgage refinance rates are also lower this week, averaging 4.85 percent.

Conforming Adjustable Mortgage Rates



  • Today’s 1 year adjustable mortgage rates are averaging 3.71 percent, unchanged from last week’s average 1 year adjustable interest mortgage rate. 1 year adjustable refinance mortgage interest rates are currently averaging 3.71, unchanged from last week’s average refinance rate.

  • 3 year adjustable mortgage rates are averaging 4.36 percent, an increase from last week’s average mortgage rate of 4.32 percent. 3 year mortgage refinance rates are also higher this week averaging 4.36 percent.

  • 5 year adjustable mortgage interest rates are averaging 3.67 percent, a decline from last week’s average home loan rate of 3.75 percent. 5 year refinance home mortgage rates are averaging 3.67 percent this week.

  • 7 year adjustable mortgage rates are averaging 4.13 percent this week, down from the previous week’s average 7 year home mortgage rate of 4.15 percent. 7 year mortgage refinance rates today are also averaging 4.13 percent.

  • 10 year adjustable mortgage loan rates are averaging 4.46 percent this week, slightly higher from last week’s average 10 year adjustable mortgage rate of 4.45 percent. Today’s 10 year home loan mortgage refinance rates are also higher, averaging 4.46 percent.


Jumbo Adjustable Mortgage Rates



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

  • 3 year jumbo adjustable  mortgage rates are averaging 4.74 percent, down 20 basis points from last week’s average jumbo bank mortgage rate of 4.94 percent. 3 year bank jumbo mortgage refinance rates are also lower averaging 4.74 percent.

  • Currently, 5 year jumbo adjustable mortgage rates are averaging 4.16 percent, a decline from last week’s average mortgage rate of 4.24 percent. 5 year jumbo home refinance loan rates are averaging 4.16 percent.

  • 7 year jumbo adjustable mortgage interest rates are averaging 4.86 percent, down from last week’s average 7 year home loan rate of 4.98 percent. 7 year jumbo refinance rates are also down to 4.86 percent.

  • 10 year jumbo home mortgage rates today are averaging 5.60 percent, up from an average 10 year jumbo home mortgage rate of 5.58 percent last week. Current 10 year jumbo home loan refinance rates are also averaging 5.60 percent this week.


Interest Only Conforming Mortgage Rates



  • 3 year interest only mortgage rates today are averaging 4.54 percent, an increase from the prior week’s average interest only mortgage loan rate of 4.51 percent.

  • Current 5 year conventional interest only mortgage loans today are averaging 3.86 percent, a decrease from last week’s average five year interest only mortgage loan rate of 4.88 percent.

  • 7 year interest only home mortgage rates today are averaging 4.30 percent, an increase from an average mortgage rate of 4.37 percent last week.


Jumbo Interest Only Mortgage Rates



  • 3 year jumbo interest only loan mortgage rates are averaging 5.60 percent this week, up from an average jumbo interest only mortgage rate of 5.51 percent last week.

  • 5 year jumbo interest only home loan rates are averaging 4.81 percent, down slightly from an average IO home mortgage rate of 4.82 percent.

  • Current 7 year jumbo interest-only mortgage loan rates are averaging 5.18 percent, a decrease from an average jumbo 7 year home mortgage rate of 5.30 percent last week.


Home Equity Loan Rates



  • 10 year home equity loan rates are averaging 7.139 percent, unchanged from last week’s average home equity loan rate.

  • 15 year home equity rates are averaging 7.446 percent this week, unchanged from last week’s average home equity rate.


Home Equity Line of Credit Rates


The current average home equity line of credit rates (HELOC) are averaging 4.777 percent this week, unchanged from last week’s average HELOC rate.

 
 
 
Author: Brian McKay
June 24th, 2010
Posted in: Mortgage Rates