Average Mortgage Rates Higher this Week

Mortgage rates were up again in our most recent Mortgage Rate Survey. Conforming 30 year fixed mortgage rates were slightly higher but managed to stay under 5.00 percent for the fourth consecutive week. Market analysts were concerned mortgage rates would run up in late March since the Fed is winding down their purchase of mortgage-backed securities.

Looking for mortgage rates and refinance rates? Use our Mortgage Rate Tables here: MortgageRates.MonitorBankRates.com

The Fed's $1.25 trillion dollar program was started a year ago to provide support to the housing market by driving down mortgage rates. The Fed successfully drove 30 year mortgage rates below 5.00 percent. Now that their support is ending, there is concern mortgage rates will go higher.

15 year fixed conforming mortgage rates were also higher this week but stayed under 4.50 percent. 15 year mortgage interest rates have remained under 4.50 percent since the beginning of 2010.

Jumbo Rate Mortgages

The average 30 year jumbo mortgage rate is at 5.59 percent this week, up from the prior week’s average jumbo home loan rate of 5.56 percent. Jumbo refinance rates were also higher this week and jumbo refi rates increased to 5.56 percent.

The average 15 year jumbo mortgage rate is at 5.07 percent this week, an increase from last week’s average jumbo rate of  5.04. 15 year jumbo refinance rates are also higher this week and are averaging 5.07 percent.

Conforming Adjustable Mortgage Rates

1 year conforming adjustable mortgage interest rates are unchanged this week over last. The average 1 year conforming ARM is at 4.48 percent this week, unchanged from last week’s average 1year home loan rate. The average 1 year mortgage refinance rate is also unchanged this week at 4.48 percent.

3 year conforming adjustable home loan mortgage rates are at 4.66 percent this week, up from last week when 3 year home mortgage rates averaged 4.58 percent. The current average 3 year refinance rate is also at 4.58 percent this week.

5 year conforming adjustable mortgages are averaging 4.04 percent this week, up from last week’s average home loan rate of 3.92 percent. The current average 5 year mortgage refinance rate this week is also up to 4.04 percent.

The average 7 year conforming ARM is at 4.55 percent this week, up from last week’s average mortgage loan interest rate of 4.41 percent. 7 year mortgage refinance rates are also higher at 4.55 percent this week.

10 year adjustable mortgage rates are averaging 4.86 percent this week, an increase from last week’s average mortgage interest rate of 4.80 percent. 10 year home loan refinance rates are also averaging 4.86 percent.

Adjustable Jumbo Mortgage Rates

The average 1 year jumbo ARM is at 5.59 percent this week, unchanged from last week’s average home loan interest rate. The average 3 year jumbo ARM is at 5.35 percent this week, up from the prior week’s average home loan rate of 5.24 percent. 

3 year home refinance rates are up to 5.35 percent this week. The average 5 year jumbo ARM is at 4.69 percent this week, an increase from last week’s average mortgage rate of 4.57 percent.

Current 5 year refinance loan rates are also averaging 4.69 percent. 7 year jumbo ARMs are averaging 5.45 percent this week, up from last week’s average loan mortgage rate of 5.40 percent.

7 year loan refinance rates are averaging 5.45 percent this week. 10 year jumbo mortgage interest rates are averaging 5.97 percent this week, an increase from last week’s average 10 year rate of 5.77 percent. 

10 year jumbo refinance loan rates are also lower this week - the average rate is 5.97 percent.

Interest Only Conforming Mortgage Rates

The average 3 year interest only mortgage rate is at 4.91% this week, up from the prior week’s average mortgage interest rate of 4.84%.

The average 5 year interest only home loan is at 4.23% this week, up from last week’s average five year home interest only mortgage rate of 4.11%.

7 year IO home loans are averaging 4.73% this week, an increase from last week’s average interest rate of 4.58%.

Interest Only Jumbo Mortgage Rates

3 year jumbo IO loans are averaging 5.76 percent this week, down from last week’s jumbo interest mortgage rate of 5.83 percent.

The average 5 year jumbo IO loan rate is at 5.32 percent, up from the prior week’s average IO mortgage rate of 5.18 percent.

The average 7 year jumbo IO loan is at 5.85 percent, up from the prior week’s average jumbo 7 year rate of 5.79 percent.

Home Equity Loan Rates

The average home equity loan rate was up this week over last. 10 year home equity loan rates are at 7.364 percent this week, down from last week’s average equity home loan rate of 7.457. 15 year home equity rates averaged 7.562 percent, down from last week’s average home equity rate of 7.780.

Home Equity Line of Credit Rates (HELOC)

Average home equity line of credit rates are at 4.777 percent this week, unchanged from last week’s average HELOC rate.