Average 30 Year Mortgage Rates Decline This WeekAverage 30 year mortgage rates posted a small decline this past week after moving higher for all of 2018. Week over week, average 30 year mortgage rates declined to 4.55 percent, down 3 basis points from the prior week's average 30 year rate of 4.58 percent. Overall, 30 year mortgage rates are about 50 basis points higher since the start of 2018. 15 year mortgage rates today are currently averaging 4.02 percent, down from the previous week's average 15 year mortgage rate of 4.04 percent. The average rate on 15 year mortgage loans is also about .50 percent higher this year. Current mortgage rates on 5 year adjustable mortgage loans are at 3.73 percent. Average 5 year adjustable rates are up from last week's average of 3.69 percent. 5 year adjustable rates are up about 60 basis points so far this year, higher than longer term rates. Lender
APR / Rate
Fees / Points
Payment
$3,032
Includes 0.758 points for $3,032
Lender Fees: $0
$3,267 /mo
$3,648
Includes 0.912 points for $3,648
Lender Fees: $0
$3,267 /mo
$4,172
Includes 0.868 points for $3,472
Lender Fees: $700
$3,267 /mo
$4,570
Includes 0.875 points for $3,500
Lender Fees: $1,070
$3,269 /mo
$5,070
Includes 1.000 points for $4,000
Lender Fees: $1,070
$2,496 /mo
$3,292
Includes 0.823 points for $3,292
Lender Fees: $0
$2,526 /mo
$3,744
Includes 0.936 points for $3,744
Lender Fees: $0
$2,529 /mo
$4,592
Includes 0.973 points for $3,892
Lender Fees: $700
$2,526 /mo
$4,184
Includes 0.714 points for $2,856
Lender Fees: $1,328
$2,562 /mo
$4,495
Includes 0.625 points for $2,500
Lender Fees: $1,995
$2,562 /mo
$4,954
Includes 0.971 points for $3,884
Lender Fees: $1,070
$2,562 /mo
Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Rate and product details.
Short term mortgage rates such as 5 year adjustable rates are tied to short term interest rates. Short term interest rates are being forced higher because the Federal Reserve is increasing the fed funds rate. As result, shorter term mortgage rates are rising faster than longer term mortgage rates. Average Jumbo Mortgage Rates
30 year jumbo mortgage rates are averaging 4.65 percent, down from the previous week's average 30 year jumbo rate of 4.68 percent. Mortgage rates today on 15 year jumbo loans are averaging 4.54 percent, a decline from the prior week's average 15 year jumbo rate of 4.57 percent. 5 year adjustable jumbo mortgage rates are averaging 4.29 percent. Last week, average 5 year adjustable jumbo rates were slightly higher at 4.31 percent. The Federal Reserve is expected to increase their key benchmark interest rate, the fed funds rate, at least twice more this year. As a result, the forecast for mortgage rates is higher for the rest of 2018. There is a good chance the Fed will increase the rate more because inflation is on the rise. The current inflation rate is at 2.00 percent, right at the Fed's target rate of 2.00 percent. If inflation picks up steam and increases beyond 2 percent, we expect rates to move even higher. Explore Other Mortgage and Refinance Offers
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