Average Mortgage Rates Today Mixed as Bond Yields Move Up 8 Basis Points
mortgage rates today are mixed as markets rally on GDP news and hopes of further economic stimulus from the Federal Reserve. Current mortgage rates are poised to move higher since 10 year bond yields are up a steep 8 basis points so far today.
We expect mortgage rates to move up at least 5 basis points over the weekend since bond yields are higher today. Mortgage rates have been subjected to the whims of the markets as investors react to every positive and negative piece of economic data that is released.
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Today's mortgage rates on 30 year conforming loans which hit a record low of 3.54 percent on Bankrate's national average survey are up slightly to 3.55 percent. Refinance rates on 30 year conforming loans can be found below the averages and as low as 3.375 percent if you're willing to pay points.
Earlier this year 30 year conforming mortgage interest rates were around 4.00 percent which at the time seemed like a low point for rates. Now rates are just above 3.50 percent and probably will fall below that rate in the coming weeks.
Current mortgage rates on 15 year conforming loans are still below 3.00 percent averaging 2.96 percent, unchanged from yesterday's average 15 year mortgage rate.
As with average 30 year rates you can find 15 year rates below the average of 2.95 percent. In fact right now on our 15 year refi rates list there are lenders offering rates as low as 2.625 percent.
Average jumbo mortgage rates todays are mixed. 30 year jumbo mortgage rates currently are averaging 4.21 percent, unchanged from yesterday's average 30 year jumbo mortgage rate. Mortgage rates currently on 15 year jumbo loans are averaging 3.43 percent, up 1 basis point from yesterday's average of 3.42 percent.
Conforming 5 year adjustable mortgage rates are up slightly to 2.99 percent today and 5 year jumbo adjustable mortgage rates are unchanged at 2.85 percent.
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