Mortgage Rates Mixed This Week: 30 Year Mortgage Rates at 5.05%, 15 Year Mortgage Rates at 4.40%

(http://mortgagerates.monitorbankrates.com) Mortgage rates were mixed this past week, 30 year mortgage rates were slight higher and 15 year mortgage rates were unchanged. Fixed jumbo fixed mortgages were down and adjustable mortgage rates were mixed. 

The Federal Open Market Committee met last week and decided to keep the Fed funds rate in a targeted range of zero percent to one quarter percent. The Fed said economic activity has continued to strengthen, layoffs are abating and bank lending continues to contract.

The Fed also said inflation isn’t a concern right now and probably won’t be for a while because there is ”substantial resource slack” that is keeping cost pressures down and keeping inflation down for some time. Even though inflation isn’t a concern, mortgage rates will start heading higher soon because the Fed is completing its $1.25 trillion program of purchasing mortgage-backed securities to support mortgage lending. The program will wind down at the end of the 1st quarter 2010.

Looking for mortgage rates? Use our mortgage rate tables to find current mortgage rates  in your state or zip code. Find Current Mortgage Rates.

Mortgage Rates

The average conforming 30 year mortgage rate is at 5.05 percent this week, up slightly from the prior week’s average home loan interest rate of 5.04 percent.

Conforming 15 year mortgage rates are at 4.40 percent this week, unchanged fom last week’s average home loan interest rate.

Jumbo Mortgage Rates

30-year jumbo mortgage rates are averaging 5.74% this week, down from the prior week’s average home loan rate of 5.86%.

15 year jumbo mortgage loans are averaging 5.21% this week, down from the prior week’s average mortgage loan rate of 5.24%.

Adjustable Mortgage Rates

Conforming 1 year adjustable mortgage home loan rates are averaging 4.23% this week, down from the prior week when one year home loans were averaging 4.32%.

Conforming 3 year adjustable mortgage rates are averaging 4.42%, down from last week’s average home loan rate of 4.52%.

Conforming 5 year adjustable mortgage loan rates are averaging 4.14% this week, down from the previous week’s average mortgage rate of 4.20%.

Conforming 7 year adjustable home loan rates are averaging 4.59%, down from last week’s average home loan rate of 4.61%.

Conforming 10-year mortgage rates are at 4.99%, a decrease from the previous week’s average mortgage rate of 5.11%.

Jumbo Adjustable Mortgage Rates

Jumbo 1 year jumbo adjustable mortgage rates are averaging 5.30% this week, down slightly from the prior week’s average home mortgage loan rate.5.31%.

Jumbo 3-year jumbo ARMs are averaging 5.25% this week, down from last week’s average adjustable interest home loan rate of 5.32%.

The average 5 year jumbo ARM is at 4.91% this week, down from the prior week’s average home interest mortgage rate 0f 4.99%.

7 year jumbo ARMs are averaging 5.44% this week, up from last week’s average loan mortgage rate of 5.37%.

The average 10 year jumbo is at 5.92%, down from the prior week’s average 10 year mortgage loan rate of 5.88%.

Conforming Interest Only Mortgage Rates

3 year interest only mortgage rates are averaging 4.59% this week, down from last week’s average interest rate of 4.65%.

5 year interest only loans are averaging 4.31% this week, unchanged from last week’s average five year interest only mortgage rate.

7 year IO home loan rates are averaging 4.75% this week, down from last week’s average interest rate of 4.81%.

Jumbo Interest Only Mortgage Rates

3 year jumbo interest only mortgages are averaging 5.58% this week, up from last week’s jumbo interest mortgage rate of 5.52%.

5 year jumbo IO loan rates are averaging 4.91%, down from the prior week’s average IO mortgage rate of 5.39%.

The average jumbo 7 year IO loan mortgage rate is at 5.85%, up from last week’s average jumbo rate of 5.76%.

Home Equity Loans Rates

The average home equity loan rate was up considerably this week over last. 10 year home equity loan rates decreased to 7.416% this week, down from last week’s average equity home loan rate of 7.418%. 15 year home equity rates were unchanged this week at 7.517%.

Home Equity Line of Credit (HELOC) Rates

Average home equity line of credit rates were down slightly this week over last. The average HELOC rate is at 4.905% this week, down slightly from last week’s average HELOC rate of 4.906%.

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