Record Low Mortgage Rates Hold Steady Today

Record low fixed conforming  mortgage rates held steady in this week's Primary Mortgage Market Survey released by Freddie Mac this morning. Bond yields haven't moved much the past week which is why mortgage rates barely changed.

Current mortgage rates today on 30 year conforming home loans are at a new all-time low averaging 3.78 percent with 0.8 mortgage discount points for the week ending today, down from the previous week's average 30 year mortgage rate of 3.79 percent.

Last year 30 year mortgage interest rates were averaging 4.60 percent. If you have refinanced your mortgage in the past year you should look into refinancing again since 30 year refinance rates are 80  basis points lower. You might also want to think about refinancing to a short term mortgage like a 15 year loan since 15 year refinance rates can be found as low as 2.75 percent.

15 year mortgage rates remain at a record low set last week. Current fixed conforming 15 year mortgage rates are at 3.04 percent with 0.7 mortgage points, unchanged from last week's average. This rate is an average rate you can find rates lower than the averages.

Adjustable mortgage rates were mixed in this week's mortgage survey. 5 year adjustable mortgage rates today are averaging 2.83 percent with 0.6 points, unchanged from last week's average rate.

Today's 1 year adjustable mortgage rates are averaging 2.75 percent with 0.4 mortgage points, down from last week's average adjustable rate of 2.78 percent.