Mortgage Rates – 30 Year Mortgage Rates Decrease to 5.13% and 15 Year Mortgage Rates Decrease to 4.45%

Mortgage rates decreased in the latest mortgage applications survey released this morning by the Mortgage Bankers Association. Both 30 year mortgage rates and 15 year mortgage rates decreased.

One year adjustable mortgage rates had a considerable jump up this week to 6.83 percent, up from the prior week’s average mortgage rate of 6.42 percent.

Looking for the today’s mortgage interest rates? Use our mortgage rate tables to find the best mortgage rates  in your state or zip code. Today’s Mortgage Interest Rates.

30 year mortgage rates decreased to 5.13 percent for the week ending January 8, 2010, down from the prior week’s average mortgage rate of 5.18 percent. Mortgage discount points decreased to 1.17 points, down from the prior week’s average discount points of 1.28 points.

15 year mortgage rates are back under 4.50 percent for the week ending January 8, 2010. 15 year mortgage rates decreased to 4.45 percent, down from the previous week’s average mortgage rate of 4.62 percent. Mortgage discount points increased to 1.04 points, up from .98 points the prior week.

Lower current mortgage rates increased mortgage refinance activity. The Refinance Index, which measures mortgage refinancing applications increased 21.8 percent on a seasonally adjusted basis. The Purchase Index, which measures mortgage appliactions for purchases was up only 0.8 percent on a seasonally adjusted basis.

For a more extensive report on current mortgage rates, MonitorBankRates.com released its weekly mortgage report on Monday, which follows:

Today’s Mortgage Interest Rates

30-year conforming mortgage rates are at 5.17 percent this week, up from the previous week’s average home mortgage rate of 5.16 percent.

15-year mortgage rates are at 4.55 percent this week, down from last week’s average home loan interest rate of  4.58 percent.

Jumbo Mortgage Rates

30-year jumbo mortgage rates are averaging 5.85% this week, up from the prior week’s loan home rate of 5.81%.

15 year jumbo mortgage loans are averaging 5.33% this week, down from the prior week’s average mortgage home loan rate of 5.34%.

Adjustable Mortgage Rates

1 year adjustable home mortgage loan rates are averaging at 4.57% this week, down from the prior week when one year home loans were averaging 4.61%.

3 year adjustable mortgage interest rates are averaging 4.56%, down from last week’s average loan rate of 4.58%.

5 year adjustable mortgage rates are averaging 4.33 percent this week, down from the previous week’s average mortgage rate of 4.36%.

7 year adjustable loan rates are averaging 4.85%, unchanged from last week’s average loan rate.

The average 10 year mortgage is at 5.33%, up from the previous week’s average bank mortgage rate of 5.28%.

Jumbo Adjustable Mortgage Rates

1 year jumbo adjustable mortgage rates are averaging 5.48% this week, up slightly from the prior week’s average mortgage finance interest rate of 5.47%.

Current 3 year jumbo ARMs are averaging 5.80% this week, up from last week’s adjustable rate of 5.60%.

Today’s 5 year jumbo ARM is averaging 5.07% this week, up from the prior week’s average rate on a five year jumbo mortgage 0f 5.04%.

7 year jumbo ARMs are averaging 5.79% this week, up from last week’s average mortgage rate of 5.67%.

The average 10 year jumbo is at 6.10 percent, up from the prior week’s average 10 year mortgage rate of 6.01 percent.

Interest Only Mortgage Rates

3 year interest only mortgage rates are averaging 4.70 percent this week, down from last week’s average interest rate of 4.72%.

5 year interest only loans are averaging 4.49 percent this week, unchanged from last week’s average five ear interest only mortgage.

7 year IO loan rates are averaging 5.07 percent this week, unchanged from last week’s average interest rate.

Jumbo Interest Only Mortgage Rates

3 year jumbo interest only mortgages are averaging 5.95% this week, up from last week’s jumbo interest mortgage rate of 5.82%.

5 year jumbo IO loan rates are averaging 5.40%, up from the prior week’s average IO mortgage rate of 5.38%.

The average jumbo 7 year IO loan mortgage rate is at 6.27%, up from last week’s average jumbo rate of 6.10%.

Home Equity Loans

The average home equity loan rate was up considerably this week over last week. 10 year home equity loan rates decreased to 7.425% this week, up from last week’s average equity home loan rate of 7.419%. 15 year home equity rates decreased to 7.521%, down slightly from the prior week’s average equity loan rate of 7.522%.

Home Equity Line of Credit (HELOC)

Average home equity line of credit rates were down slightly this week over last. The average HELOC rate is at 4.904% this week, unchanged from last week’s average HELOC rate.

Looking for mortgage rates? Current mortgage rates including jumbo rates can be found in your state or zip code by using our bank mortgage rate tables. Current Mortgage Rates