Mortgage Refinance Rates: 30 Year Refinance Rates at 5.16%

Mortgage refinance rates shot up late this week. 30 year mortgage refinance rates are once again above 5.00 percent at 5.16 percent. This is the first week  since mid March mortgage refi rates are above 5.00 percent. 15 year conforming refinance rates are averaging 4.47 percent today, up from the prior week's average 15 year rate of 4.35 percent.  

The Federal Reserve Bank completed their $1.25 trillion in purchases in mortgage-backed securities (MBS) late in March. Mortgage rates were expected to head higher once the Fed stopped buying these securities and we are already seeing the effects.

Current 30 year jumbo refinance rates are also higher. Today's jumbo refinance rates at averaging 5.75 percent, up from 5.57 percent earlier this week. 15 year jumbo refinance rates are above 5.00 percent at 5.16 percent, up from an average home refinance rate of 4.97 percent.

Looking for mortgage refinance rates? Use our rate tables to find the lowest refinance rates.

Refinance Mortgage Rates

Adjustable Mortgage Refinance Rates – Conforming Loans

1 year adjustable refinance loan rates are averaging 4.63% this week, up from last week when 1 year loan refinance rates averaged 4.48%.

3 year adjustable refi rates are averaging 4.66% this week, an increase from the prior week’s mortgage loan refinance rate of 4.51%.

The average 5 year adjustable refinance interest rate is at 3.98% this week, up from last week’s average mortgage refinance interest rate of 3.97%.

The average 7 year conforming mortgage refinance rate is at 4.61%, an increase from last week’s average mortgage refinance rate of 4.42%.

The average 10 year refinance mortgage rates is at 4.89% this week, up from last week’s refinance rate of 4.82%.

Jumbo Refinance Mortgage Rates

The average 1 year jumbo adjustable refinance rate is at 5.59%, unchanged from last week’s average refinance rate.

3 year jumbo adjustable refi rates are averaging 5.15%, up from last week’s average adjustable refinance loan interest rate of 5.14%.

The average 5 year jumbo refinance interest rate is at 4.65% this week, up  from last week’s average refinance bank rate of 4.63%.

7 year jumbo refinance home loan rates are averaging 5.50% this week, an increase from last week’s average refinance home loan rate of 5.34%.

10 year home refi rates are averaging 5.91% this week, up from the prior week’s average 10 year home refinance rate of 5.88%.
Author: Brian McKay
April 4th, 2010
Posted in: Mortgage Rates