Current Mortgage Rates Back to 5.00% - Freddie Mac

Freddie Mac released its Primary Mortgage Market Survey (PMMS) this morning showing an increase in 30 year mortgage interest rates in this week’s survey. Longer term mortgage rates were slightly higher and one year adjustable mortgage interest rates were lower.

“Following bond yields, long-term mortgages rates edged up slightly this week,” said Frank Nothaft, Freddie Mac vice president and chief economist. “Although rates for 5/1 ARMs and traditional 1-year ARMS are around half a percentage point below 30-year fixed mortgages, consumers appear to be seeking the stability of fixed-rate mortgages.”

Looking for the best mortgage rates? Find today’s mortgage interest rates in your state by using our mortgage rate tables:

Mortgage Rates Current

Current Mortgage Rates

Current fixed rate 30 year mortgages were up to 5.00 percent this week, an increase from last week’s average of 4.92 percent. Average discount points remained the same at 0.7 points. Discount points are paid up front and allow you to buy down the mortgage rate. Points can also be rolled into the mortgage if enough equity exists in the home. Rolling points into a home loan is popular when refinancing a mortgage.

15 year fixed rate mortgages are currently averaging 4.43 percent, up from last week’s average home loan rate of 4.37 percent. Average discount points were 0.6 points this week. Last year at this time 15 year mortgage interest rates were almost 1.50 percent higher at 5.72 percent.

5 year adjustable rate mortgages are up to 4.40 percent this week, up from last week’s average loan rate of 4.38 percent. Discount points are averaging 0.6 points. Last year at this time 5 year adjustable mortgage rates were over 6.00 percent at 6.07 percent.

One year adjustable mortgage rates were slightly lower this week, current one year ARM rates are averaging 4.54 down from last week’s average rate of 4.60 percent. Average discount points on these loans are at 0.6 points.

Jumbo Mortgage Rates

Monitorbankrates.com reported on jumbo mortgage rates earlier 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.