Current Average 30 Year Mortgage Rate Today at 3.66% A Record Low

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Current mortgage rates today on fixed conforming 30 year mortgages are averaging 3.66 percent, a record low rate in Freddie Mac's Primary Mortgage Market Survey. Also making a new record low this week is the average 5 year adjustable mortgage rate at 2.77 percent. 

A couple of negative economic numbers were released this week which sent bond yields slightly lower along with the Fed's comment that growth in employment has slowed recently along with household spending rising at a slower pace recently.
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Today's mortgage rates on fixed conforming 30 year mortgage loans averaged 3.66 percent with 0.7 mortgage points for the week ending June 21, 2012, a decline from the June 14 average rate of 3.71 percent.

Fixed conforming 15 year mortgage rates are down this week but didn't hit a new record low. Current mortgage rates on 15 year conforming loans are averaging 2.95 percent with 0.6 mortgage points, down from last week's average 15 year rate of 2.98 percent. 15 year mortgage interest rates have been under 3.00 percent for the entire month of June.

5 year adjustable mortgage rates averaged 2.77 percent with 0.6 mortgage points, a decline from last week's average 5 year adjustable mortgage rate of 2.80 percent.

I personally don't see 5 year rates going much lower in the coming months. What you will see is the mortgage rate curve being inverted because 15 year mortgage rates will decline below 5 year rates thanks to the Fed's "twist" which is designed to drive long term rates lower.

Current average 1 year adjustable mortgage rates are at 2.74 percent with 0.5 mortgage points, a decline from last week's average 1 year adjustable mortgage rate of 2.78 percent. The rate curve between the 1 year and 5 year average adjustable rate is only 3 basis points.
Author: Lisa Graham
June 21st, 2012