Mortgage Rates Weekly Report: Short Term Mortgage Rates Tumble as Bond Yields Decline

Long term mortgage rates are mostly lower this week and short term adjustable mortgage rates tumbled on lower 10 year bond yields. Late last week 10 year bond yields hit a low of 2.86%, this sent mortgage rates lower over the weekend. Current conforming 30 year mortgage rates are averaging 4.43%, down from last week's average 30 year mortgage rate of 4.46%. Current 15 year conventional mortgage rates are averaging 3.69%, a decrease from the previous week's average 15 year mortgage rate of 3.71%.