30 year mortgage rates are back under 5.00 percent in the latest Primary Mortgage Market Survey released by Freddie Mac this morning. 15 year mortgage interest rates and adjustable mortgage rates were also lower in the latest survey.

Today’s mortgage rates are helping the housing market recover from the decline in home prices over the past couple of years. Pending existing home sales have increased for the past 8 months and are at the strongest pace since December 2006. 

Current mortgage rates are also contributing to an increase in mortgage refinance activity. The Mortgage Bankers Associations weekly Refinance Index, which measures mortgage refinance applications increased 14.5 percent from the previous week.

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

Mortgage Rates Current

The average 30 year fixed mortgage rate decreased to 4.98 percent for the week ending November 5, 2009, down from the previous week’s average mortgage loan rate of 5.03 percent. Mortgage discount points averaged 0.7 points.

15 year fixed rate mortgages averaged 4.40 percent this week, down from the prior week when the average 15 year home loan rate was 4.46 percent. Average mortgage points on 15 year mortgages is at 0.6 points.

Five year U.S. Treasury indexed adjustable mortgage rates averaged 4.35 percent for the week ending November 5, 2009. Down from last week’s average loan rate of 4.42 percent. Mortgage points averaged 0.6 points.

One year Treasury indexed adjustable rate mortgages averaged 4.47 percent this week, down from the prior week’s average one year mortgage interest rate of 4.57 percent. Mortgage discount points averaged 0.5 points.

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

The average 30 year jumbo mortgage rate is at 5.77 percent this week, down from the previous week’s average loan rate of 5.85 percent. 15 year jumbo mortgage rates were averaging 5.27 percent this week, down from last week’s average interest rate of 5.30 percent.

Long term mortgage rates are lower in the Weekly Mortgage Applications Survey released by The Mortgage Bankers Association. The biggest drop in today’s mortgage interest rates was in 15 year mortgage rates. The current average contract mortgage rate for 15 year mortgages is at 4.33 percent, down from the prior week’s average contract rate of 4.53 percent. Average discount points decreased to 1.01 points from 1.25 points.

The current average contract mortgage interest rate for 30 year mortgages also declined for the week ending October 30, 2009, the average rate is back under 5.00 percent at 4.97 percent. Average mortgage points increased to 1.33 points from 0.78 points.

Average contract mortgage rates for one year adjustable mortgages increased to 6.83 percent for the week ending October 30, 2009, up from the prior week’s average contract rate of 6.79 percent. Mortgage discount points also increased, the average discount point is 0.31 points, up from last week’s average of 0.29 points.

Lower longer term interest rates increased mortgage application volume. The Market Composite Index, a measure of mortgage loan applications, increased 8.2 percent on a seasonally adjusted basis from one week earlier.

A decline in mortgage refinance rates also contributed to an increase in mortgage refinancing. The Refinance Index increased 14.5 percent from the previous week.

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

Jumbo Rate Mortgages

The average 30 year jumbo mortgage rate is at 5.77 percent this week, down from the previous week’s average loan rate of 5.85 percent. 15 year jumbo mortgage rates were averaging 5.27 percent this week, down from last week’s average interest rate of 5.30 percent.

Current mortgage interest rates are down slightly this week following 10 year U.S. Treasury yields which fell below 3.50 percent. Both comforming mortgage rates and jumbo mortgage rates were lower this week over last. One year jumbo rate mortgages were down considerably.

These low interest rates are not expected to last. Mortgage interest rates will start heading higher as the economy recovers, which has already begun.

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

This past Friday The Bureau of Economic Analysis released third quarter GDP numbers which showed the economy expanded by 3.5 percent, higher than the consensus estimates of 3.1 percent according to Bloomberg. The worst recession since the 1930s probably has ended and will officially end when we have two consectutive quarters of growth.

Current Mortgage Interest Rates

Conforming Mortgage Rates

The average conforming 30 year mortgage rate declined to 5.05 percent this week, down from last week’s average home loan rate of 5.08 percent. Conforming 15 year mortgage rates are averaging 4.49 percent this week, down from the prior week’s average mortgage rate of 4.50 percent.

Jumbo Mortgage Rates

The average 30 year jumbo mortgage rate is at 5.77 percent this week, down from the previous week’s average loan rate of 5.85 percent. 15 year jumbo mortgage rates were averaging 5.27 percent this week, down from last week’s average interest rate of 5.30 percent.

Adjustable Mortgage Rates

Average conforming one year adjustable mortgage rates are at 4.29 percent this week, down from an average of 4.35 percent last week. One year jumbo mortgage interest rates are averaging 5.28 percent, down from 5.49 percent last week.

The average conventional 3/1 year adjustable mortgage rate is at 4.41 percent this week, up from last week’s average of 4.38 percent. The average jumbo 3/1 ARM is at 5.47 percent this week, down from last week’s average interest rate of 5.53 percent.

5/1 conforming ARMs are averaging 4.12 percent, down from last week’s average home loan rate of 4.15 percent. Jumbo 5/1 ARMs are averaging 4.86 percent, down from last week when the average mortgage home loan rate was 4.94 percent.

Average conforming 7/1 ARMS are at 4.56 percent this week, up from the prior week’s average interest mortgage rate of 4.53 percent. The average jumbo 7/1 ARM is unchanged at 5.66 percent.

The average conventinal 10/1 ARM is also unchanged this week at 4.95 percent. The average jumbo 10/1 ARM is down to 6.07 percent this week, down from last week’s average loan interest rate of 6.12 percent.

Home Equity Loan

Home equity loan rates were virtually unchanged this week compared to last week. The average 10 year home equity loan is currently at 7.468 percent this week, up fractionally from last week’s average equity home loan rate of 7.467 percent. 15 year home equity rates are averaging 7.598 percent this week, up fractionally from last week’s home equity rate of 7.596 percent.

Home Equity Line of Credit

Home equity line of credit rates are averaging 4.878 percent this week, up from the previous week’s average home equity line rate of 4.865 percent.

Mortgage rates were up slightly in this week’s Primary Mortgage Market Survey released by Freddie Mac. For the first ten months of 2009 the average 30 year mortgage rate was just under 5.00 percent, the lowest 10 month average mortgage rate since the survey started in 1971.

Even with low current mortgage rates the Mortgage Bankers Association reported a seasonally adjusted 12.3 decline in mortgage applications for the week ending October 23, 2009.  New home sales also declined in September, yesterday the Commerce Department reported a 3.6 percent decline in new home sales for the month of September.

Looking for today’s mortgage rates, including jumbo mortgage rates? Use our bank mortgage rate tables to find the best mortgage rates.

Best Mortgage Rates

Current Mortgage Rates

30 year fixed rate mortgages averaged 5.03 percent for the week ending October 29, 2009, up from the prior week’s average rate of 5.00 percent. Average mortgage discount points remained the same at 0.7 points. A year ago 30 year mortgage rates averaged 6.46 percent.

The average rate on 15 year fixed rate mortgages is at 4.46 percent this week, up from the previous week’s average mortgage interest rate of 4.43 percent. Average discount points were 0.6 points. A year ago 15 year mortgage rates were averaging 6.19 percent.

Five year Treasury indexed adjustable rate mortgages are averaging 4.42 percent, up from last week’s average rate of 4.40 percent. Average discount points were 0.6 points. A year ago 5 year adjustable mortgage rates averaged 6.36 percent.

One year Treasury indexed adjustable mortgage rates averaged 4.57 percent this week, with average discount points at 0.6 points. Last week’s average one year ARM was 4.54 percent. A year ago at this time, one year ARMs averaged 5.38 percent.

Jumbo Home Mortgage Rates

Freddie Mac only reports on conforming mortgage rates in the PMMS survey. MonitorBankRates.com reported on jumbo mortgage rates earlier this week, here is the report.

Average rates on a 30 year jumbo home mortgage is currently at 5.85 percent, up from last week’s average jumbo interest rate of 5.80 percent. 15 year jumbo interest mortgage rates are averaging 5.30 percent this week, up from last week’s average mortgage rate of 5.23 percent.

Mortgage rates were mixed in the latest Mortgage Applications Survey released by the Mortgage Bankers Association this morning. 30 year  mortgage rates and one year adjustable mortgage rates were down slightly in this week’s survey and 15 year mortgage rates were higher.

Applications for mortgages also decreased this week even though mortgage interest rates for the most popular mortgage product, 30 year mortgages, decreased. Mortgage refinance applications also decreased this week over last.

Looking for mortgage interest rates, including jumbo mortgage rates? Use our bank mortgage rate tables to find the best mortgage rates. Current Mortgage Rates

Mortgage Interest Rates

The average contract mortgage rate for 30 year fixed-rate mortgages is currently at 5.04 percent, down from last weeks’ average interest rate of 5.07 percent. Average discount points increased to 1.25 this week from 1.13 points last week.

The average contract mortgage interest rate for 15-year fixed-rate mortgages is at 4.53 percent this week, up from the previous week’s average mortgage rate of 4.51 percent. Average discount points decreased to 0.78 from 0.96 the week prior.

The average contract rate for one year adjustable rate mortgages is at 6.79 percent this week, down from the previous week’s average contract mortgage rate of 6.86 percent. Average discount points also decreased this week to 0.29, down from last week’s average of 0.31.

Jumbo Rate Mortgages

MonitorBankRates.com reported on jumbo mortgage rates eariler this week, here is the report.

Jumbo Home Mortgage Rates

Average rates on a 30 year jumbo home mortgage is currently at 5.85 percent, up from last week’s average jumbo interest rate of 5.80 percent. 15 year jumbo interest mortgage rates are averaging 5.30 percent this week, up from last week’s average mortgage rate of 5.23 percent.

Find today’s mortgage interest rates, including jumbo mortgage rates, by using our bank mortgage rate tables to find the best mortgage rates in your area. Find Today’s Mortgage Rates