Current mortgage rates are up this past week brought on by higher Treasury rates, 10-year U.S. Treasury rates rose from about 3.30 percent to 3.65 percent this week. Today’s mortgage rates are  still low by historical standards.

The low mortgage rates are bringing home buyers back to the market and helping to put an end to the housing crises. Low mortgage loan rates are also spurring mortgage refinance activity. The Mortgage Bankers Association reported last week that their Refinance Index rose 17.7 percent from the previous week on a seasonally adjusted basis.

Another index released this past week further supports the begining of the end of the housing crises. The National Association of Realtors released their Pending Home Sales Index which showed a slight increase in May 2009. The increase was only 0.1 percent but it was the fourth consecutive monthly increase which hasn’t happened since October 2004.

MonitorBankRates.com has free mortgage rate tables you can search for today’s mortgage rates in your zip code. Search for MortgageRates Here

Current Mortgage Rates

The average rate on a conforming fixed 30-year mortgage increase this week to 5.34 percent, up from the prior week’s average mortgage rate of 5.20 percent. Not much higher than the recent low of 4.84 percent set on May 18, 2009. The average rate for a conforming fixed 15-year mortgage is at 4.80 percent, an increase from the previous week’s average rate of 4.72 percent.

Jumbo Mortgage

The average rate on a fixed 30-year jumbo mortgage is up slightly to 6.21 percent this week from last week’s average mortgage rate of 6.17 percent. Still down from the 6.65 percent recent high set on June 15, 2009. The average rate on a fixed 15-year jumbo mortgage loan is at 5.83 percent this week, up from the prior week’s average rate of 5.71 percent.

Adjustable Mortgage Rate

Adjustable mortgage rates were mixed this week. The average rate for a one-year conforming ARM decreased to 4.51 percent from 4.55 percent the prior week. Jumbo one-year ARMs increased to 5.24 percent, up from the prior week’s average rate of 5.20 percent.

Three-year conforming adjustable mortgage rates decreased to 4.64 percent this week, down from last week’s average rate of 4.66 percent. The average mortgage loan rate for a jumbo three-year ARM is at 5.32 percent, up from the prior week’s average home mortgage loan rate of 5.30 percent.

Five-year adjustable mortgage loans were mixed this week.  Conforming five-year ARMs are averaging 4.53 percent, down from last week’s rate of 4.57 percent. The average jumbo five-year mortgage loan rate was up to 5.42 percent from the previous week’s average rate of 5.34 percent.

The average rate on a seven-year adjustable home mortgage loan was up. Conforming seven-year ARMs are averaging 5.14 percent, up from 5.00 percent the prior week. Jumbo seven-year adjustable mortgage rates increased to 5.95 percent, up from last week’s rate of 5.90 percent.

10-year adjustable rate mortgages were mixed. Conforming 10-year ARMs are at 5.47 percent this week, up from the prior week’s average mortgage rate of 5.30 percent. Jumbo 10-year ARMs averaged 6.26 percent, down slightly from 6.28 percent.

Interest Only

Interest only mortgage rates were also mixed this week. Rates on three-year interest only ARMs decreased to 4.76 percent, down from last week’s average rate of 4.78 percent. Jumbo three-year ARMs are averaging 5.40 percent, up from 5.35 percent.

Five-year interest only loans increased to 4.61 percent this week, up from the prior week’s average rate of 4.60 percent. Jumbo five-year interest only ARMs increased to 5.72 percent, up from 5.57 percent the prior week.

Conforming seven-year interest only adjustable rate mortgages increased to 5.33 percent, up from the prior week’s average rate of 5.15 percent. The average rate for jumbo IO ARMs is up to 6.08 percent, the prior week’s average was 6.02 percent.

Home Equity Loan

Home equity loan rates were pretty much unchanged this week. The average rate for a 10-year home equity loan was down to 7.612 percent, the prior week’s average 10-year home equity rate was 7.616 percent. While rates on a 15-year home equity decreased to 7.737 percent, down from the prior week’s average rate of 7.742 percent.

Home Equity Line

Home equity line of credit rates increased to 4.805 percent this week, up from last week’s average home equity line rate of 4.800 percent. Home equity line of credit rates haven’t changed much recently so if you’re in the market for a short term loan a home equity line is probably the way to go. Keep in mind the home equity line of credit rates are not fixed rate loans, they can increase as interest rates go up.

MonitorBankRates.com has free mortgage rate tables you can search for today’s mortgage rates. Search Mortgage Rates