Current 30 Year Mortgage Rates at 5.07% – MBA

The Mortgage Bankers Association released its weekly Mortgage Application Survey showing an increase in mortgage interest rates this week. The increase in mortgage rates was in 30 year mortgage rates, 15 year mortgage rates and one year adjustable mortgage rates.

The increase in home loan rates drove mortgage loan application volume down this week compared to last week. The Market Composite Index which measures mortgage application volume was down 13.7 percent on a seasonally adjusted basis from a week ago.

Higher mortgage rates drove mortgage refinance activity down this week, the Refinance Index declined 16.8 percent on a seasonally adjusted basis.

Looking for mortgage rates? Current mortgage rates can be found in your state by using our mortgage rate tables:
Mortgage Rates Current

Today’s Mortgage Interest Rates

The average contract mortgage interest rate for fixed rate 30-year mortgages increased to 5.07 percent from 5.02 percent, discount points also increased to 1.13 from 1.11.

The average contract home mortgage interest rate for fixed rate 15-year mortgages increased to 4.51 percent from 4.44 percent, discount points decreased to 0.96 from 1.04.

Average contract rates for one year adjustable rate mortgages increased to 6.86 percent from 6.71 percent, discount points decreased to 0.31 from 0.32.

Jumbo Mortgage Rates

Monitorbankrates.com reported on jumbo mortgage rates eariler this week, following is the report.

The average fixed rate 30 year jumbo mortgage is at 5.80% this week, down from the previous week’s average interest rate of 5.86%. Fixed 15 year jumbo mortgage rates were down slightly to 5.35% from 5.36%  the prior week.