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Refinance Rates Head Higher: Current 30 Year Refinance Mortgage Rates at 4.95%

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Refinance rates headed higher this week after declining for the past couple of weeks. Mortgage rates and refinance mortgage rates took a big drop when the financial problems in Greece and Europe started a couple of weeks ago. There was a classic flight to safety that drove Treasury yields lower. Since mortgage rates are tied to Treasury yields, lower Treasury yields mean lower mortgage rates. Interest rates started creeping up again when the rescue package the European Union and the IMF put together finally calmed the markets.

Looking for current mortgage refinance rates? Search our mortgage rate tables at to find the best refinance mortgage rates.

30 year mortgage refinance rates jumped up to 4.95 percent this week, up from Monday's average refinance mortgage rate of 4.81 percent. 15 year refinance rates are down slightly since Monday. The current average 15 year mortgage rate is averaging 4.27 percent, down from Monday's average mortgage rate of 4.28 percent.

Current Jumbo Refinance Mortgage Rates

Currently, 30 year jumbo mortgage refinance rates are averaging  5.45 percent, up from Monday's average 30 year jumbo refinance rate of 5.38 percent.

Current 15 year jumbo refinance mortgage rates are averaging 5.01 percent, an increase from Monday's average mortgage refinance rate of 4.80 percent last week.

Current Adjustable Mortgage Refinance Rates

Today's 1 year conforming adjustable refinance mortgage rates are averaging 3.78 percent, a decrease from Monday's average 1 year adjustable refinance rate of 3.82 percent.

Today’s 3 year conforming adjustable mortgage refinance rates are averaging 4.52 percent, an increase from Monday's average 3 year adjustable refinance rate of 4.35 percent.

Current 5 year refinance adjustable mortgage rates are averaging 4.07 percent, up from Monday's average home loan mortgage refinance rate of 3.90 percent. ING Direct is currently offering 5 year year adjustable mortgage rates at 3.50 percent.

Today's 7 year adjustable refinance mortgage interest rates are averaging 4.33, unchanged from Monday's average 7 year adjustable refinance rate.  

10 year adjustable mortgage refinance interest rates are averaging 4.55 percent, an increase from Monday's average mortgage refinance loan rate of 4.49 percent.

Jumbo Adjustable Refinance Mortgage Rates, Current

Currently, 1 year jumbo adjustable refinance mortgage rates are averaging 5.95 percent, unchanged from Monday's average 1 year jumbo adjustable refinance rate.

Today's 3 year jumbo adjustable mortgage refinance rate loans are averaging 4.87 percent, down from Monday's average jumbo home refinance rate of 5.05 percent.

Current 5 year jumbo refinance loans are averaging 4.46 percent, an increase from Monday's average 5 year refinance mortgage rate of 4.40 percent.

Current 7 year jumbo refinance adjustable mortgage rates are averaging 5.31 percent, an increase from Monday's average loan refinance rate of 5.14 percent.

Current 10 year jumbo refinance rates are averaging 5.63 percent, up from Monday's average 10 year jumbo refinance interest rate of 5.56 percent.
Author: Brian McKay
May 29th, 2010