Mortgage Rates & Refinance Rates Move Higher This Week: 30 Year Mortgage Rates at 4.96%

Mortgage rates and refinance rates moved higher this week over last week following Treasury yields higher. 30 year mortgage rates jumped 15 basis points this week but are still under 5.00 percent. 30 year mortgage rates are up to 4.96 percent, an increase from last week's average 30 year mortgage rate of 4.81 percent.

Mortgage rates and refinance rates will probably head back down this week since Treasury yields have retreated from the highs of last week. The markets are still concerned about Europe's debt crisis and how the problems will play out. The markets are concerned enough to drive the euro down to a four year low against the dollar and also drive U.S. Treasury yields down. Europe's problems will be one of the main topics at the G-20 meeting this week in South Korea.  

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15 year mortgage rates and mortgage refinance rates are down slightly. Current 15 year mortgage rates are averaging 4.27 percent, down from last week's average mortgage rate of 4.28 percent.

Jumbo Mortgage Rates - Refinance Rates

30 year jumbo mortgage rates and refinance mortgage rates are averaging  5.51 percent this week, up from last week's average 30 year jumbo rate of 5.38 percent.

15 year jumbo mortgage rates/refinance mortgage rates are averaging 4.90 percent, up from last week's average mortgage refinance rate of 4.80 percent last week.

 Conforming Adjustable Mortgage Rates - Refinance Rates

Current 1 year adjustable mortgage rates and refinance mortgage rates are averaging 3.78 percent, down from the previous week’s average 1 year adjustable mortgage rate of 3.82 percent.

Today's 3 year adjustable refinance rates and mortgage rates are averaging 4.50 percent, up from the previous week’s average home mortgage rate of 4.35 percent.

Current 5 year refinance adjustable rate mortgages/adjustable mortgage rates are averaging 4.07 percent, an increase from the prior week’s average loan mortgage rate of 3.95 percent. 

Today's 7 year adjustable refinance mortgage rates/mortgage interest rates are averaging 4.24 percent this week, an increase from last week’s average 7 year mortgage rate of 4.13 percent. 

Current 10 year conforming adjustable mortgage refinance rates and mortgage rates are averaging 4.45 percent, down from last week’s average 10 year mortgage rate of 4.49 percent. 

Jumbo Adjustable Mortgage Rates - Refinance Rates

Current 1 year jumbo adjustable interest refinance rates and mortgage rates are averaging 5.95 percent this week,  unchanged from the prior week’s average 1 year rates.

3 year refinance jumbo adjustable rate mortgages and mortgage interest rates are averaging 4.80 percent, down from last week’s average jumbo refinance loan mortgage rate of 5.05 percent. 

5 year jumbo adjustable mortgage refinance rates and mortgage rates are averaging 4.45 percent, up from an average rate of 4.40 percent last week.  

7 year jumbo adjustable refinance rates and mortgage rates are averaging 5.26 percent this week, up from last week’s average loan mortgage rate of 5.14 percent. 

Current 10 year jumbo mortgage refinance interest rates and mortgage rates are averaging 5.67 percent, up from the previous week's average 10 year jumbo interest rate of 5.56 percent.

Conforming Interest Only Mortgage Rates - Refinance Mortgage Rates

Current 3 year interest only mortgage rates / refinance mortgage rates are averaging 4.63 percent, up from last week's average IO mortgage rate of 4.52 percent.

Today's 5 year interest only refinance home loans are averaging 4.05 percent, up from last week’s average five year interest only mortgage rate of 3.75 percent.

Current 7 year IO home loan rates and refinance rates are averaging 4.41 percent, up from last week’s average interest only rate of 4.25 percent.

Jumbo Interest Only Mortgage  Refinance Rates - IO Mortgage Rates

The average 3 year jumbo interest only mortgage rate and refinance rate is at 5.35 percent, down from last week's average jumbo interest rate of 5.47 percent.

Currently, 5 year jumbo IO loan rates and refinance rates are averaging 5.03 percent, a decrease from last week’s average IO rate of 5.06 percent.

Current 7 year IO jumbo refinance rates and mortgage rates are averaging 5.79 percent, up from last week’s average jumbo 7 year rate of 5.53 percent.

Home Equity Loan Rates

10 year home equity loan rates are averaging 7.255 percent, a decrease from last week’s average home equity loan rate of 7.293 percent.

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

Home Equity Line of Credit Rates (HELOC)

The current average home equity line of credit rates are averaging 4.777 percent this week, up from last week’s average HELOC rate of 4.664.
Author: Brian McKay
June 2nd, 2010
Posted in: Mortgage Rates