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Mortgage Rates Move Lower on Fears of Hungary Financial Crisis, 30 Year Mortgage Rates at 4.85%

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mortgage-rates-move-lower-on-fears-of-hungary-financial-crisis-30-year-mortgage-rates-at-485Mortgage rates followed Treasury yields lower this past week on fears of a financial crisis in Hungary. Mortgage rates have gone lower for the past several weeks because of the crisis in Europe. Bloomberg News quoted Peter Szijjarto, a Hungarin spokesman for the Prime Minister of Hungary, saying the previous government had manipulated budget figures and lied about the state of the economy. Yields on 10 year bonds which were averaging 3.40 percent on Thursday plunged to 3.19 percent on Friday. Investors fled the euro, bought dollars and U.S. Treasuries.

When bond prices go up bond yields go down. Lower bond yields mean lower mortgage rates since 30 mortgage rates are tied to 10 year yields and are usually around 1.5 percent higher. Current 30 year home mortgage rates are averaging 4.85 percent, a decline from an average 30 year home mortgage rate of 4.96.



Looking for mortgage rates and mortgage refinance rates? Use our mortgage rates table at MortgageRates.MonitorBankRates.com to find a list of current mortgage rates and refinance mortgage rates in your state. Unlike most websites, no personal information is needed for a list of home mortgage rates.

15 year mortgage rates were unchanged at 4.27 percent. The current average 15 year mortgage rates is just above historic lows and will head lower this coming week.

Jumbo Mortgage Rates, Current


Current 30 year jumbo mortgage rates are averaging 5.49 percent, down from an average jumbo mortgage interest rate of 5.52 percent. Today's 30 year jumbo home mortgage refinance rates are also lower. Current 30 year jumbo mortgage refinance rates are averaging 5.49 percent.

Today's 15 year jumbo mortgage rates are averaging 4.92 percent, an increase from an average jumbo loan mortgage rate of 4.90 percent. Currently, 15 year jumbo home mortgage refinance rates are also higher. Current 15 year jumbo refinance home mortgage rates are averaging 4.90 percent.

Current Adjustable Mortgage Interest Rates


Current 1 year conforming adjustable mortgage rates are averaging 3.73 percent, a decline from an average 1 year adjustable home mortgage rate of 3.78 percent. Today, 1 year adjustable home mortgages for refinancing are averaging 3.73.

Today, 3 year conforming adjustable rate home mortgages are averaging 4.29 percent, a decline from an average mortgage loan rate of 4.50 percent. Current 3 year refinance mortgage rates are also down since Monday. The current average 3 year mortgage refinance rate is 4.29 percent.

Today's 5 year conforming adjustable loan rate mortgages are averaging 3.73 percent, a decline from an average home mortgage rate of 4.07 percent. Today, 5 year refinance home mortgage rates are averaging 3.73 percent.

Current 7 year conforming adjustable home mortgage rates are averaging 4.21 percent, down from an average 7 year  mortgage home rate of 4.24 percent. Today's 7 year home refinance rates were also down to 4.21 percent.

Current 10 year conforming adjustable interest mortgage rates are averaging 4.41 percent, a decline from an average 10 year home mortgage rate of 4.45 percent. Today, 10 year home loan mortgage refinance rates are averaging 4.41 percent.

Today's Jumbo Adjustable Mortgage Rates


Today's 1 year jumbo adjustable mortgage interest rates are averaging 5.95 percent. This is unchanged from an average 1 year home jumbo adjustable mortgage rate on Monday. Current 1 year jumbo refinance home mortgage rates are also averaging 5.95 percent.

Current 3 year jumbo adjustable rate mortgages are averaging 5.00 percent, up from an average jumbo home mortgage rate of 4.80 percent earlier this week. Current 3 year jumbo home mortgage refinance rates are also up to 5.00 percent since Monday.

Today's 5 year jumbo adjustable mortgage interest rates are averaging 4.40 percent, down from an average mortgage interest rate of 4.45 percent. Current 5 year jumbo home refinance loan rates are averaging 4.40 percent.

Today, 7 year jumbo adjustable home rate mortgages are averaging 5.26 percent, unchanged from Monday’s average 7 year home loan rate. Current 7 year jumbo refinance rates are also unchanged at 5.26.

Current 10 year jumbo home mortgage interest rates are averaging 5.65 percent, down from an average 10 year jumbo home mortgage interest rate of 5.67 percent. Currently, 10 year jumbo home loan refinance rates are also averaging 5.65 percent.

Current Interest Only Home Mortgage Rates


Current conforming 3 year interest only home mortgage rates are averaging 4.43 percent, down 20 basis points from Monday’s average IO home mortgage rate of 4.63 percent.

Today’s 5 year conventional interest only home loans are averaging 3.84 percent, down from an week’s average five year interest only home mortgage rate of 4.05 percent.

Currently, 7 year IO home mortgage loans are averaging 4.35 percent, down from an average interest only mortgage rate of 4.41 percent.

Interest Only Jumbo Home Mortgage Rates


3 year jumbo interest only home mortgage rates are averaging 5.47 percent, up from an average jumbo interest mortgage rate of 5.35 percent.

5 year jumbo IO loan home mortgage rates are averaging 5.01 percent, down from an average IO home mortgage rate of 5.03 percent.

Current 7 year jumbo IO home mortgage loans are averaging 5.57 percent, down from an average jumbo 7 year home mortgage rate of 5.79 percent.

Current Home Equity Loan Rates


10 year home equity loan rates are averaging 7.255 percent, a decrease from last week’s average home equity loan rate of 7.293 percent.

15 year home equity rates are averaging 7.416 percent this week, unchanged from last week’s average home equity rate.

Today's Home Equity Line of Credit Rates (HELOC)


The current average home equity line of credit rates are averaging 4.777 percent this week, up from last week’s average HELOC rate of 4.664.
 
Author: Brian McKay
June 6th, 2010