Mortgage Rates Today: Current Mortgage Rates Remain Low, Housing Prices at 2002 Levels

Mortgage rates today remain low as housing prices fall back to mid 2002 levels. Conforming 30 year mortgage rates are averaging 4.56% and conforming 15 year mortgage rates are averaging 3.81%.

In the S&P/Case-Shiller Home Price report released today by Standard & Poor’s the U.S. National Home Price Index declined by 4.2% in the first quarter of 2011. With this recent decline housing prices are now back to mid 2002 levels erasing most of the gains during the housing bubble of the past decade.




Current 30 year jumbo mortgage rates are averaging 5.09% and 15 year jumbo mortgage rates are averaging 4.26%.

Find today's mortgage rates by using our rate tables at MortgageRates.MonitorBankRates.com. Unlike most websites you don't need to practically apply for a loan to see rates.

Following is a more in-depth home mortgage rate survey released by MonitorBankRates.com earlier today:

Mortgage Rates


Conforming 30 year mortgage rates are averaging 4.54%, down from last week's average 30 year mortgage rate of 4.62%. 15 year conforming mortgage rates today are averaging 3.81%, down from the previous week's average 15 year mortgage rate of 3.84%.

Current 30 year jumbo mortgage rates are averaging 5.05%, down from the prior week's average 30 year jumbo mortgage rate of 5.18%.

15 year jumbo mortgage rates are averaging 4.39%, down from last week's average 15 year jumbo rate of 4.41%.

Conforming Adjustable Mortgage Rates and Conforming Adjustable Refinance Rates Currently


The current refinancing rate and mortgage rate on 1 year adjustable rates are averaging 2.96 percent, a decline from last week’s average 1 year adjustable home mortgage refi rate and loan rate of 3.02 percent.

3 year adjustable mortgage refinance rates and adjustable mortgage rates are averaging 3.03 percent, down from last week’s average 3 year adjustable mortgage rate of 3.12 percent.

Current refinance rates and mortgage rates on 5 year adjustable mortgages are averaging 3.41 percent, up from the prior week’s average rate of 3.40 percent.

Current refinance mortgage rates and mortgage rates on 7 year adjustable home loans are averaging 3.47 percent, down from the previous week’s average 7 year loan rate of 3.54 percent.

10 year adjustable mortgage loan rates are averaging 3.99 percent this week, down from last week’s average 10 year adjustable rate of 4.00 percent. Current mortgage refinance rates on 10 year home loans are also averaging 3.99 percent.

Current Adjustable Jumbo Refinance Rates and Jumbo Mortgage Rates


1 year jumbo adjustable loan rates are averaging 4.05 percent, unchanged from the prior week’s average 1 year jumbo adjustable loan interest rate. Refinance rates on 1 year jumbo loans are also averaging 4.05 percent.

3 year adjustable jumbo rates are averaging higher at 3.85 percent, down from last week’s average 3 year jumbo adjustable rate of 3.91 percent. Today’s refinance interest rates on 3 year jumbo loans are also lower, averaging 3.85 percent.

5 year adjustable jumbo interest rates today are averaging 3.44 percent, a decrease from last week’s average jumbo adjustable rate of 3.46 percent. Today’s refinancing mortgage interest rates are also averaging 3.44 percent.

7 year jumbo adjustable loan rates today are averaging 4.01 percent, down from last week’s average 7 year adjustable home loan rate of 4.04 percent. 7 year jumbo refinance loan rates are also lower at 4.01 percent.

10 year jumbo loan rates are averaging 4.48 percent, down from the prior week’s average 10 year jumbo home loan rate of 4.56 percent. 10 year jumbo refinance interest rates are also lower, averaging 4.48 percent.

Conforming Interest Only Adjustable Mortgage Rates and Adjustable Interest Only Refinancing Rates Today


3 year interest only adjustable mortgage loan rates are averaging 3.26 percent, up from last week’s average interest only mortgage loan rate of 3.12 percent. 3 year interest only adjustable refinance mortgage rates are also averaging 3.16 percent.

5 year IO adjustable loan rates are averaging 3.19 percent, down from last week’s average five year interest only mortgage loan rate of 3.26 percent. Current 5 year interest only adjustable refinance mortgage loan rates are also averaging 3.19 percent.

7 year interest only adjustable mortgage loan rates are averaging 3.73 percent, up from last week’s average 7 year interest-only mortgage interest rate of 3.71 percent. 7 year adjustable refi loan rates are averaging 3.73 percent.

Interest Only Jumbo Mortgage Refinancing Rates and Interest Only Jumbo Mortgage Rates Today


3 year jumbo interest only adjustable loan rates are averaging 3.76 percent, down from last week’s average jumbo adjustable interest only rate of 4.12%. 3 year interest only adjustable jumbo refi rates are also averaging 3.76 percent.

5 year adjustable jumbo interest only rates are averaging 3.85 percent, up from last week’s average IO home mortgage interest rate of 3.83%. 5 year jumbo adjustable IO loan rates are also averaging at 3.85 percent.

7 year jumbo interest only adjustable rates are averaging 4.24 percent, down from last week’s average jumbo 7 year home loan rate of 4.28%. Current 7 year jumbo adjustable interest-only rates are also averaging 4.24  percent.

Today's Home Equity Loan Rates


10 year home equity loan rates are averaging 6.77 percent, unchanged from last week’s average home equity loan rate.

15 year home equity rates are averaging 6.87 percent, unchanged from the prior week’s average home equity loan rate.

Today's HELOC Rates


Home equity line of credit rates are averaging 4.95 percent, unchanged from last week’s average rate HELOC rate.

 
 
Author: Brian McKay
May 31st, 2011
Posted in: Mortgage Rates