AIG Bank is advertising some of the best mortgage rates available today. The current advertised rate for a 30 year mortgage is 4.625 percent, which is lower than the current National Average Mortgage Rate reported by Monitor Bank Rates of 4.91 percent.

The bank’s 30 year mortgage rate is also lower than the 4.83% mortgage interest rate reported in Freddie Mac’s weekly Primary Mortgage Market Survey. AIG Bank is also advertising a very competitive 15 year mortgage rate of 4.25 percent, lower than the National Average Rate of 4.37 percent.

The bank is also offering a $500 credit towards mortgage closing costs if you apply for a first mortgage (primary mortgage) before December 31, 2009 and close on that mortgage loan by June 30, 2010.

AIG Bank is also offering a Home Equity Line of Credit (HELOC)promotion. You can get up to a $2,000 credit at closing to offset closing costs and the appraisal fee for a HELOC in first lien position, a home loan that is first in line to be repaid if you default. Most home equity loans and HELOCs are second in line over the primary mortgage if a home-owner defaults.

You still can get up to a $1,000 credit towards closing costs for a second lien home equity line of credit loan.

AIG Bank Mortgage Rates and Promotion Closing Costs Offer

Mortgage rates continued to decline in the latest Primary Mortgage Market Survey released by Freddie Mac this morning. 30 year mortgage rates are near record lows and are at the lowest level since May of 2009. 15 year mortgage rates have hit the lowest level ever since Freddie Mac’s records began in 1991.

Mortgage interest rates are still heading lower despite the fact that the economy is coming out of a recession and the Fed announced it was slowing the pace of its purchases of mortgage-backed securities. Average mortgage rates will head higher once the Fed stops its purchases.

The $1.25 trillion program to purchase mortgage-backed securities was designed to support the housing market and mortgage lending. The Fed anticipates the program will end in the first quarter of 2010.

Looking for today’s mortgage rates? Current mortgage rates including jumbo rates can be found in your state or zip code by using our bank mortgage rate tables. Mortgage Rate Tables

Fixed 30 year mortgage interest rates are at 4.83 percent for the week ending November 12, 2009, down from last week’s average mortgage rate of 4.91 percent. Mortgage discount points averaged 0.7 points. A year ago, 30 year loan rates were over 6.00 percent at 6.04 percent.

15 year fixed mortgage rates are averaging 4.32 percent for the week ending November 12, 2009, down from the prior week’s average mortgage interest rate of 4.40 percent. A year ago, 15 year home loan rates averaged 5.73 percent. Average mortgage points were 0.6 points for the week ending November 12, 2009.

The average 5 year adjustable mortgage rate is at 4.25 percent for the week ending November 12, 2009, down from the previous week’s average interest rate of 4.35 percent. Discount points averaged 0.6 points. Last year at this time, 5 year adjustable mortgage rates averaged 5.87 percent.

One year adjustable mortgage rates are averaging 4.35 percent this week, down from the prior week’s average loan rate of 4.47 percent. Average discount points were 0.6 points. Last year one year mortgage rates were averaging 5.29 percent.

The Primary Mortgage Market Survey released by Freddie Mac doesn’t include jumbo rate mortgages. Here is an excerpt of current jumbo rates Monitor Bank Rates released on Monday:

Jumbo Rate Mortgages

• The average 30 year jumbo mortgage rate is at 5.70 percent this week, down from the previous week’s mortgage rate of 5.78 percent.
• The average 15 year jumbo rate mortgage is at 5.23 percent this week, down from the prior week’s interest rate of 5.29 percent.

Real Estate Agents, keep our clients up to date with current mortgage rates. Use our free mortgage rate widget to display mortgage rates on your website. Free Mortgage Widget

30 year mortgage rates are down to 4.83 percent in the latest Mortgage Application Survey released by the Mortgage Bankers Association.  This is a decline from last week’s average 30 year contract interest rate of 4.90 percent. 

This is the lowest average contract mortgage rate since May of 2009. Average mortgage discount points increased to 1.17 points from 1.03 points.

The average contract rate for 15 year mortgages also declined this week over last. The current average 15 year mortgage rate is at 4.32 percent, down slightly from the prior week’s average rate of 4.33 percent. Average mortgage points decreased to 1.01 points from 1.15 points a week earlier.

Looking for Current Mortgage Rates? Today’s Mortgage Rates can be found in your state by using our Mortgage Rate Tables: Best Mortgage Rates Here

The average contract mortgage rate for one year adjustable mortgages declined to 6.82 percent from 6.85 percent a week ago. The average discount points on one year adjustable mortgage rates declined to 0.28 points from 0.29 points.

In addition to the decline in mortgage interest rates this past week, mortgage applications also declined week over week. The MBA’s Market Composite Index, which measures home mortgage loan application volume decreased 2.5 percent on a seasonally adjusted basis from one week earlier.

The MBA’s Refinance Index, a measure of refinance application volume, decreased 1.4 percent from the previous week. It looks like the demand for mortgage loans for home purchases is slowing down,  the Purchase Index decreased 4.7 percent from one week earlier.  The Purchase Index has gone down for six consecutive weeks and is at its lowest level since November 1997.

MonitorBankRates.com released a report on mortgage rates earlier this week.

Current Mortgage Rates

Conforming Fixed Rate Mortgages

• 30 year mortgage rates declined to 4.95 percent this week, down from the prior week’s average home loan rate of 5.02 percent.
• 15 year mortgage interest rates are down to 4.39 percent this week, down from last week’s average mortgage rate of 4.45 percent.

Jumbo Rate Mortgages

• The average 30 year jumbo mortgage rate is at 5.70 percent this week, down from the previous week’s mortgage rate of 5.78 percent.
• The average 15 year jumbo rate mortgage is at 5.23 percent this week, down from the prior week’s interest rate of 5.29 percent.

Adjustable Mortgage Rates - Conforming

• One year adjustable mortgage rates are averaging at 4.44 percent this week, up from last week’s when one year home loans averaged 4.37 percent.
• Three year adjustable mortgage interest rates are averaging 4.31 percent, down from last week’s average loan interest rate of 4.36 percent.
• Five year mortgage rates remain unchanged this week at 4.12 percent.
• Seven year adjustable home loans are up this week to 4.54 percent, up from last week’s average loan rate of 4.50 percent.
• Current rates for ten year ARMs are averaging 4.97 percent, up from the previous week’s average home finance rate of 4.88 percent.

Adjustable Mortgage Rates - Jumbo

• Today’s one year jumbo adjustable rate mortgages are averaging 5.25 percent this week, down from the prior week’s average mortgage finance rate of 5.35 percent.
• Three year jumbo ARMs are at 5.42 percent this week, down from last week’s adjustable rate of 5.47 percent.
• The average five year jumbo ARM  is at 4.92 percent this week, up from the prior week’s average rate on a five year jumbo mortgage 0f 4.90 percent.
• Seven year jumbo ARMs are averaging 5.56 percent., up from the previous week’s average adjustable rate of 5.71 percent.
• 10 year jumbo ARMs are averaging 5.93 percent, down from last week’s average mortgage rate of 6.07 percent.

Interest Only Mortgage Rates - Conventional

• Average three year interest only mortgage rates are averaging 4.39 percent this week, unchanged from last week’s interest rate.
• Five year interest only loans are averaging 4.22 percent, up from last week when five year interest only mortgages averaged 4.10 percent.
• Seven year IO mortgages are averaging 4.70 percent this week, up from last week’s average of 4.66 percent.

Interest Only Mortgage Rates - Jumbo

• Three year jumbo interest only mortgages are averaging 5.66 percent this week, down from last week’s jumbo mortgage average rate of 5.74 percent.
• Five year jumbo IO home loans are averaging 5.34 percent, down from last week’s average IO mortgage rate of 5.38 percent.
• The average jumbo seven year IO mortgage is at 5.98 percent, down from last week’s average jumbo rate of 6.24 percent.

Home Equity loan

• The average home equity loan rate was up slightly this week over last week. 10 year home equity loan rates increased to 7.498 percent this week, up from last week’s average equity home loan rate of 7.480%. 15 year home equity rates increased to 7.630%, up from the prior week’s average equity loan rate of 7.611%.

Home Equity Line of Credit (HELOC)

• Average home equity line of credit rates were are up slightly this week. The average HELOC rate this week is 4.901%, up from last week’s average HELOC rate of 4.893.

Real Estate Agents, keep our clients up to date with current mortgage rates. Use our free mortgage rate widget to display mortgage rates on your website. Free Mortgage Rates Widget

Long term mortgage interest rates are lower this week over last, both conforming mortgage rates and jumbo mortgage rates are lower.

Today’s average mortgage rate for a 30 year fixed mortgage is back under 5.00 percent at 4.95 percent. 10-year U.S. Treasury yields also headed lower last week and as of Friday yields are back under 3.50 percent at 3.42.

Looking for Today’s Mortgage Rates? Current Mortgage Rates can be found in your state by using our Mortgage Rate Tables: Best Mortgage Rates

The National Association of Realtors (NAR) released an optimistic housing report for 2010.  The NAR expects existing home sales to rise 13.6 percent in 2010 and home prices to rise 3 to 5 percent in 2010. The NAR is expecting 30 year mortgage rates to hit 5.8 percent by the end of 2010. Read more here.

Current Mortgage Rates

Conforming Fixed Rate Mortgages

• 30 year mortgage rates declined to 4.95 percent this week, down from the prior week’s average home loan rate of 5.02 percent.
• 15 year mortgage interest rates are down to 4.39 percent this week, down from last week’s average mortgage rate of 4.45 percent.

Jumbo Rate Mortgages

• The average 30 year jumbo mortgage rate is at 5.70 percent this week, down from the previous week’s mortgage rate of 5.78 percent.
• The average 15 year jumbo rate mortgage is at 5.23 percent this week, down from the prior week’s interest rate of 5.29 percent.

Adjustable Mortgage Rates - Conforming

• One year adjustable mortgage rates are averaging at 4.44 percent this week, up from last week’s when one year home loans averaged 4.37 percent.
• Three year adjustable mortgage interest rates are averaging 4.31 percent, down from last week’s average loan interest rate of 4.36 percent.
• Five year mortgage rates remain unchanged this week at 4.12 percent.
• Seven year adjustable home loans are up this week to 4.54 percent, up from last week’s average loan rate of 4.50 percent.
• Current rates for ten year ARMs are averaging 4.97 percent, up from the previous week’s average home finance rate of 4.88 percent.

Adjustable Mortgage Rates - Jumbo

• Today’s one year jumbo adjustable rate mortgages are averaging 5.25 percent this week, down from the prior week’s average mortgage finance rate of 5.35 percent.
• Three year jumbo ARMs are at 5.42 percent this week, down from last week’s adjustable rate of 5.47 percent.
• The average five year jumbo ARM  is at 4.92 percent this week, up from the prior week’s average rate on a five year jumbo mortgage 0f 4.90 percent.
• Seven year jumbo ARMs are averaging 5.56 percent., up from the previous week’s average adjustable rate of 5.71 percent.
• 10 year jumbo ARMs are averaging 5.93 percent, down from last week’s average mortgage rate of 6.07 percent.

Interest Only Mortgage Rates - Conventional

• Average three year interest only mortgage rates are averaging 4.39 percent this week, unchanged from last week’s interest rate.
• Five year interest only loans are averaging 4.22 percent, up from last week when five year interest only mortgages averaged 4.10 percent.
• Seven year IO mortgages are averaging 4.70 percent this week, up from last week’s average of 4.66 percent.

Interest Only Mortgage Rates - Jumbo

• Three year jumbo interest only mortgages are averaging 5.66 percent this week, down from last week’s jumbo mortgage average rate of 5.74 percent.
• Five year jumbo IO home loans are averaging 5.34 percent, down from last week’s average IO mortgage rate of 5.38 percent.
• The average jumbo seven year IO mortgage is at 5.98 percent, down from last week’s average jumbo rate of 6.24 percent.

Home Equity loan

• The average home equity loan rate was up slightly this week over last week. 10 year home equity loan rates increased to 7.498 percent this week, up from last week’s average equity home loan rate of 7.480%. 15 year home equity rates increased to 7.630%, up from the prior week’s average equity loan rate of 7.611%.

Home Equity Line of Credit (HELOC)

• Average home equity line of credit rates were are up slightly this week. The average HELOC rate this week is 4.901%, up from last week’s average HELOC rate of 4.893.

Looking for mortgage rates? Current mortgage rates including jumbo rates can be found in your state or zip code by using our bank mortgage rate tables. Bank Mortgage Rate Tables

Current mortgage rates declined to a five week low for the week ending November 12, 2009 according to the most recent mortgage rate survey released by Freddie Mac. 30 year mortgage rates stayed below 5.00 percent for the fifth time in the past seven weeks.

In this week’s Primary Mortgage Market Survey conforming 30 year mortgage interest rates declined to 4.91 percent, down from the previous week’s average mortgage rate of 4.98 percent. Mortgage discount points stayed the same at 0.7 points. A year ago at this time 30 year mortgage interest rates were over 6.00 percent at 6.14 percent.

Looking for today’s mortgage interest rates? The best mortgage interest rates can be found in your state by using our mortgage rate tables: Best Mortgage Rates

15 year mortgage interest rates also declined in this week’s mortgage survey. The current 15 year home loan interest rate is averaging 4.36 percent, down from the prior week’s average mortgage rate of 4.40 percent, which is a lot lower from a year ago when 15 year mortgage home loans averaged 5.81 percent. Mortgage points averaged 0.6 points.

Adjustable mortgage rates were also lower in this week’s survey - 5 year Treasury indexed home loan rates averaged 4.29 percent, down from last week’s average home loan rate of 4.35 percent. A year ago, 5 year home loan interest rates averaged 5.98 percent. Discount points averaged 0.6 points.

One year adjustable rate mortgages averaged 4.46 percent, down slightly from the previous week’s average home mortgage loan rate of 4.47 percent. Mortgage discount points averaged 0.6 points. A year ago the average home loan interest rate on a one year ARM was 5.53 percent.

Jumbo mortgage rates currently are higher this week over last. MonitorBankRates.com reported on jumbo rate mortgages on Monday. Following is the report:

Jumbo Rate Mortgages

• 30 year jumbo mortgage interest rates are at 5.78 percent this week, up slightly from last week’s average mortgage rate of 5.77 percent.
• 15 year jumbo rate mortgages are at 5.29%, up from the previous week’s average loan rate of 5.27%.

Find current mortgage rates in your state by searching our mortgage rate tables: Mortgage Rates Current