Mortgage Rates: 30 Year Mortgage Rates Decline to 4.82% – MBA

30 year mortgage rates are down to 4.82 percent in the latest Mortgage Application Survey released by the Mortgage Bankers Association.  This is a slight decline from last week’s average 30 year contract mortgage rate of 4.83 percent. 

Average mortgage discount points increased from 1.18 points to 1.19 points for the week ending November 20, 2009. Buying mortgage points allows a borrower to receive a lower mortgage rate.

Looking for Current Mortgage Rates? Today’s Mortgage Rates can be found in your state by using our Mortgage Rate Tables: Best Mortgage Rates Here

15 year mortgage rates remained unchanged this week over last week, the current average contract loan rate for a 15 year mortgage is at 4.32 percent. Average discount points increased to 1.05 points from 1.01 points.

The average contract mortgage rate for one year adjustable rate mortgages decreased to 6.66 percent, down from the previous week's average interest rate of 6.85 percent. Average mortgage points increased from 0.29 to .033 points.

Lower mortgage rates didn't prevent mortgage refinance applications from dropping, the MBA's Refinance Index decreased 9.5 percent from the previous week.  The Purchase Index, which measures mortgage applications for home purchases increased 9.6 percent from one week earlier.

Earlier this week, MonitorBankRates.com released  its Weekly Mortgage Rate Report, here is the report.

Current Mortgage Rates

Conventional Fixed Mortgage Rates

• 30 year mortgage rates declined to 4.90 percent this week, down from last week’s average home loan rate of 4.95 percent. We haven’t seen rates this low since May of 2009 when average 30 year interest rates hit a low of 4.84 percent.
• 15 year mortgage rates are down to 4.37 percent this week, down from last week’s average loan rate of 4.39 percent.

Jumbo Mortgage rates

• Average 30 year jumbo mortgage rates are at 5.60 percent this week, down slightly from the prior week’s mortgage rate of 5.70 percent.
• Average 15 year jumbo rates are at 5.19 percent this week, down from the last week’s average rate on a 15 year home loan of 5.23 percent.

Adjustable Mortgage Rates - Conventi0nal

• Average one year adjustable mortgage rates are at 4.30 percent this week, down from last week’s when one year home loans averaged 4.44 percent.
• Three year adjustable rate mortgages are averaging 4.40 percent, up from the previous week’s average rate on a three year mortgage loan of 4.31 percent.
• Average five year mortgage rates are at 4.06 percent this week, down from the prior week’s average loan interest rate of 4.12 percent.
• The average rate on a seven year ARM is down to 4.50 percent, down from last week’s average home bank loan rate of 4.54 percent.
• Ten year ARMs are averaging 4.88 percent, down from the prior  week’s when 10 year home interest rates were at an average of 4.97 percent.

Jumbo Adjustable Mortgage Rates

• Average one year jumbo adjustable mortgage rates are averaging 5.49 percent this week, up considerably from the prior week’s average home loan interest rate of 5.25 percent.
• Average three year jumbo loans are at 5.41 percent this week, down from last week’s average home interest rate of 5.42 percent.
• Five year jumbo rates are at 4.83 percent this week, down from last week’s average home mortgage loan rate 0f 4.92 percent.
• The average rate on a seven year jumbo loan is at 5.57 percent, up slightly from the prior week’s average mortgage loan interest rate of 5.56 percent.
• 10 year jumbo ARMs are averaging 5.89 percent, down from the previous week’s average loan rate of 5.93 percent.

Conforming Interest Only Mortgage Rates (IO)

• The average three year interest only loan rates are at 4.50 percent this week, up from last week’s three year home loan rate of 4.39 percent.
• Five year IO loans are averaging 4.15 percent, down from the prior week when five year loan interest rates were averaging 4.22 percent.
• The average seven year IO mortgage rate is averaging 4.70 percent this week, unchanged from last week.

Jumbo Interest Only Mortgage Rates (IO)

• Average three year jumbo interest only mortgage rates are averaging 5.53 percent this week, down from last week’s jumbo mortgage average rate of 5.66 percent.
• Five year jumbo IO loans are averaging 5.23 percent, down from the prior week’s average IO mortgage rate of 5.34 percent.
• Seven year jumbo IO mortgages are averaging is at 5.94 percent, down from last week’s average jumbo rate of 5.98 percent.

Home Equity Loan Rates

• The average rate on a 10 year home equity loan is down slightly to 7.496 percent this week from the prior week’s average equity home loan rate of 7.498%. 15 year home equity rates decreased to 7.629% this week, down from the last week’s average equity loan rate of 7.630%.

Home Equity Line of Credit Rates (HELOC)

• The average home equity line of credit rate was down slightly to 4.898% this week from last week’s average HELOC rate of 4.901.

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. Bank Mortgage Rate Tables