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Mortgage Rates 8/1: 30 Year Mortgage Rates Hit 4.71%

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Mortgage rates declined again this week, reversing the trend of higher mortgage rates the past few days. Current 30 year mortgage rates are averaging 4.71 percent, down from Wednesday’s average 30 year mortgage rate of 4.78 percent.

Today’s 30 year jumbo mortgage rates are also lower this weekend. 30 year jumbo mortgage rates are averaging 5.30 percent, a decline from an average 30 year mortgage rate of 5.35 on Thursday.

15 year conforming mortgage rates are close to breaking 4.00 percent. Today's 15 year mortgage rates are averaging 4.04 percent, down from an average 15 year mortgage rate of 4.12 percent earlier this week.

Current 15 year jumbo mortgage rates are down, averaging 4.81 percent from an average 15 year jumbo rate of 4.91 percent.

3 year conforming adjustable mortgage rates and 5 year jumbo adjustable mortgage rates are now under 4.00 percent. 1 year jumbo adjustable mortgage rates had the biggest decline. Current 1 year jumbo adjustable mortgage rates are averaging 5.35 percent, down from an average of 5.95 percent.

Mortgage Rates 8/1/ 2010

Conventional Mortgage Rates

  • 30 Year Fixed Conforming Mortgage Rates 4.71%

  • 15 Year Fixed Conforming Mortgage Rates 4.04%

Jumbo Mortgage Rates

  • 30 Year Jumbo Fixed Mortgage Rates 5.30%

  • 15 Year Jumbo Fixed Mortgage Rates 4.81%

Conventional Adjustable Mortgage Rates

  • 1 Year Adjustable Rates 3.21%

  • 3 Year Adjustable Rates 3.97%

  • 5 Year Adjustable Rates 3.55%

Jumbo Adjustable Mortgage Rates

  • 1 Year Adjustable Rates 5.35%

  • 3 Year Adjustable Rates 4.26%

  • 5 Year Adjustable Rates 3.96%

Following is a more in-depth mortgage rate report released by earlier this week.

Mortgage Rates

Current 30 year mortgage rates are averaging 4.76 percent this week, an increase from last week’s average 30 year mortgage rate of 4.72 percent. Today’s 30 year refinance mortgage rates are also slightly higher this week averaging 4.76 percent.

15 year mortgage rates today are averaging 4.20 percent this week, a slight decline from last week’s average 15 year mortgage interest rate of 4.21 percent. Current 15 year mortgage refinance rates currently are also down slightly averaging 4.20 percent this week.

Jumbo Mortgage Rates Today

30 year jumbo mortgage rates today are averaging 5.25 percent, down from an average 30 year year jumbo mortgage rate of 5.33 percent. 30 year jumbo mortgage refinance rates are also downto 5.25 percent.

Current 15 year jumbo mortgage rates are averaging 4.82 percent, up from last week’s average jumbo mortgage rate of 4.71 percent. Current 15 year jumbo refinance mortgage rates today are also higher averaging 4.82 percent.

Current Adjustable Mortgage Rates

Current 1 year conventional adjustable mortgage rates are averaging 3.54 percent, unchanged last week’s average 1 year adjustable interest mortgage rate. Current 1 year conforming adjustable refinance mortgage interest rates today are also unchanged this week averaging 3.54 percent.

3 year adjustable conventional mortgage rates today are averaging 4.09 percent this week, unchanged from the prior week’s average 3 year adjustable rate mortgage. Today’s 3 year mortgage refinance rates today are also unchanged averaging 4.09 percent.

5 year conventional adjustable loan mortgage rates are averaging 3.57 percent, down slightly from the prior week’s average home loan rate of 3.58 percent. Current 5 year refinance home mortgage rates are also down averaging 3.57 percent.

7 year conventional adjustable mortgage rates are averaging 3.90 percent this week, up from last week’s average 7 year home mortgage rate of 3.86 percent. Current 7 year mortgage refinance rates today are also higher averaging 3.90 percent.

Conventional 10 year adjustable mortgage rates are averaging 4.25 percent this week,an increase from the previous week’s average 10 year adjustable mortgage rate of 4.21 percent. Today’s 10 year home mortgage refinance rates are also higher averaging 4.25 percent.

Jumbo Adjustable Mortgage Rates Current

1 year jumbo adjustable mortgage loan rates today are averaging 5.95 percent, no change from the prior week’s average 1 year jumbo adjustable mortgage rate. Current 1 year jumbo refinance mortgage rates today are also averaging 5.95 percent this week.

Today’s 3 year jumbo adjustable mortgage rates are averaging 4.55 percent, down from the previous week’s average jumbo interest mortgage rate of 4.57 percent. Current 3 year jumbo refinance mortgage rates are also lower, averaging 4.57 percent.

5 year jumbo adjustable home mortgage rates currently are averaging 4.07 percent this week, unchanged from last week’s average mortgage rate. Current 5 year jumbo mortgage refinance rates are also unchanged averaging 4.07 percent.

Current 7 year jumbo adjustable mortgage rates current are averaging 4.62 percent, down from last week’s average 7 year home mortgage rate of 4.66 percent. 7 year jumbo refinance mortgage rates today are also down to 4.62 percent.

Current 10 year jumbo mortgage rates are averaging 5.21 percent, down from the previous week’s average 10 year jumbo home mortgage rates of 5.28 percent. Today’s 10 year jumbo home loan refinance rates are also down averaging 5.21 percent.

Conventional Interest Only Adjustable Mortgage Rates Current

3 year interest only adjustable mortgage rates currently are averaging 4.22 percent, down from last week’s average interest only mortgage loan rate of 4.27 percent. Today’s 3 year interest only adjustable refinance mortgage rates are also higher averaging 4.22 percent.

5 year interest only adjustable mortgage rates today are averaging 3.73 percent, down rom last week’s average five year interest only mortgage loan rate of 3.75 percent. Current 5 year interest only adjustable refinance mortgage rates are also averaging 3.73 percent.

Today’s 7 year interest only home adjustable mortgage rates currently are averaging 4.06 percent, down from last week’s average 7 year IO mortgage rate of 4.09 percent. Today’s 7 year adjustable refinance rate mortgages are also averaging 4.06 percent.

Interest Only Jumbo Adjustable Mortgage Rates

3 year jumbo interest only loan adjustable mortgage rates are averaging 4.94 percent, down from last week’s average jumbo adjustable interest only mortgage rate of 5.16 percent. Current jumbo IO adjustable refinance rates are also down averaging 4.94 percent.

5 year adjustable jumbo interest only home loan rates are at 4.52 percent, down from an average IO home mortgage rate of 4.54 percent the previous week. 5 year jumbo adjustable IO loan rates are also averaging 4.52 percent.

Current 7 year jumbo IO adjustable mortgage rates today are averaging 4.96 percent, down from an average jumbo 7 year home mortgage rate of 4.98 percent last week. 7 year jumbo adjustable interest-only mortgage rates are also down averaging 4.96 percent.

Home Equity Loan Rates

Current 10 year home equity loan rates are averaging 7.115 percent, unchanged from last week’s average home equity loan rate.

Today’s 15 year home equity rates are averaging 7.433 percent this week, no change from last week’s average home equity loan rate.

Home Equity Line of Credit Rates

Current average home equity line of credit rates (HELOC) are at 4.762 percent this week, down from last week’s average HELOC rate of 4.777 percent.
Author: Brian McKay
August 1st, 2010