Mortgage Interest Rates: Today’s Mortgage Rates are Higher

Mortgage interest rates rose this week over last week, reversing the down trend of  the past couple of weeks. Today’s mortgage rates are still low compared to recent average mortgage rates of the past month.

The average rate for a 30-year mortgage hit a high of 5.51 percent on August 10th. The month’s low for 30-year mortgage rates was 5.21 percent, set on August 24th.

10-year Treasury yields started the month of August at 3.50 percent, hit a high of 3.85 percent on August 7th and have been drifting down the rest of the month. Today’s 10-year Treasury yields are at 3.43 percent.

Looking for Current Mortgage Rates? MonitorBankRates.com has mortgage rate tables you can use to find the best mortgage rates in your zip code. Mortgage Rate Here

Today’s Mortgage Interest Rates

The average rate for 30-year and 15-year conventional mortgages were up this past week. The average jumbo mortgage rate was down for  jumbo 30-year rates and jumbo 15-year rates. Adjustable rate mortgages were up for conventional mortgage rates and jumbo mortgage rates, except for 10/1 conforming mortgage rates and 10/1 jumbo mortgage rates.

The average conforming 30-year mortgage rate is currently at 5.28 percent, up from last week’s average mortgage interest rate of 5.21 percent. Conventinal 15-year fixed mortgage rates are at 4.69 percent, up from the prior week’s average rate of 4.62 percent.

Jumbo Rate Mortgages

Jumbo mortgage rates bucked the trend of higher interest rates, the current mortgage rate of 30-year jumbo loans are at 6.11 percent, down from the previous week’s average rate of 6.14 percent. 15-year jumbo mortgage rates are averaging 5.73 percent today, down from last week’s average rate of 5.80 percent.

Current Adjustable Mortgage Rates

Adjustable rate mortgages were up this past week.  Shorter term mortgage rates jumped up more than longer term mortgage rates. The average rate on a conforming one-year ARM is at 4.38 percent, up from the prior week’s average rate of 4.27 percent. One-year jumbo mortgages are averaging 4.91 percent, up from last week’s average mortgage rate of 4.81 percent.

The average rate on a conforming 3/ ARM is at 4.58 percent this week, up from last week’s average loan rate of 4.50 percent. Jumbo 3/1 ARMs are averaging 5.40 percent, up from 5.38 percent.

5/1 conforming ARMs are averaging 4.47 percent, up from the prior week’s average rate of 4.34 percent. Jumbo 5/1 ARMs are averaging 5.26 percent, up from last week’s average mortgage loan rate of 5.16 percent.

The average home loan rate for a 7/1 conforming ARM is at 4.83 percent, up slightly from last week’s rate of 4.82 percent. The average 7/1 jumbo mortgage rate is at 5.81 percent, up from 5.72 percent the prior week.

10/1 conforming ARMs are averaging 5.23 percent, down from the previous week’s average rate of 5.24 percent. Jumbo rates on 10/1 ARMs are averaging 6.23 percent, down from 6.30 percent the prior week.