Current Interest Mortgage Rates Mixed This Week

Current interest mortgage rates are mixed this week, conforming 30-year interest mortgage rates are lower and 15-year jumbo interest mortgage rates are higher.

The Federal Open Market Committee met last week and decided to keep the federal funds rate in a target range of zero percent to 1/4 percent because there is “substantial resource slack” that will keep a lid on inflation.

Over the past year the Feds have been providing support to mortgage lending and housing markets by purchasing a total of $1.25 trillion of agency mortgage-backed securities. The FOMC also said it will gradually slow the pace buying mortgage-backed securities purchases and will complete their purchases by the end of the first quarter of 2010. Some housing analysts believe mortgage rates will immediately shoot up by 1/2 percent when the Fed stops buying these securities.

Looking for the best mortgage rates? Search our bank mortgage rate tables for home mortgage rates, including conforming mortgage rates and jumbo mortgage rates in your state or zip code. Current Mortgage Rate

Current Interest Mortgage Rates

Conforming 30-year mortgage interest rates are lower this week, the current 30-year mortgage rate is at 5.06 percent this week, down from the prior week’s average mortgage interest rate of 5.09 percent. Average 30-year CA mortgage rates are higher at 5.12 percent.

The average conforming 15-year fixed mortgage rate is currently back under 4.50 percent at 4.47 percent, down from the prior week’s average bank mortgage rate of 4.59 percent. Average 15-year VA mortgage rates are a little higher at 4.49 percent. Mortgage rate refinance rates are in the same range as purchase rates.

Jumbo Mortgage Rates Current

Average 30-year jumbo bank mortgage rates are down this week, current jumbo mortgage rates are at 5.98 percent, down slightly from last week’s average jumbo mortgage interest rate of 6.03 percent.

The average 15-year jumbo mortgage rate is currently at 5.56 percent, up considerably from the previous week’s average mortgage rate of 5.36 percent.

Current Mortgage Rates - Adjustable Rates

Current adjustable mortgage rates are mixed this week. One-year conforming adjustable rate mortgages are at 4.36 percent this week, down from last week’s average adjustable mortgage rate of 4.50 percent. Jumbo one-year adjustable mortgage rates are at 5.31 percent, up from the average rate last week of 5.12 percent.

The average rate on a conforming 3/1 home loan is at 4.41 percent this week, down from last week’s average rate of 4.50 percent. Jumbo 3/1 ARMs are averaging 5.55 percent this week, down from last week’s average mortgage rate of 5.75 percent.

5/1 conforming ARMs are averaging 4.20 percent, up from last week’s average rate of 4.13 percent. The average mortgage rate on a Jumbo 5/1 ARM is currently at 4.96 percent, down from the prior week’s average rate of 5.25 percent.

Average rate for a 7/1 conforming ARM is at 4.63 percent this week, down from the prior week’s average rate of 4.68 percent. Jumbo 7/1 ARMs are averaging 5.72 percent, down from last week’s average rate of 6.31 percent.

Average mortgage rates 10-year ARM are at 4.99 percent, up from last week’s average rate of 4.97 percent. 10-year jumbo mortgage rates are at 6.02 percent, down from 6.25 percent.

Find current mortgage rates here: Mortgage Interest Rates