Current Refinance Rates Decline 7/10/12

Follow by Email
Facebook
Twitter
LinkedIn
Current refinance rates declined as 10 year bond yields are down by 3 basis points on weak economic news on China's trade growth. Average refinance rates on 30 year loans are at 3.63 percent, down from yesterday's average refinance rate of 3.65 percent.

Refinance rates today on 30 year home loans are just above record lows of 3.57 percent set late last week. We might see average refinance rates break all-time lows this week as a slew of economic data is scheduled to be released including initial jobless claims, FOMC minutes for the June meeting and PPI on Friday. Any weakness in the data will send bond yields lower sending refinance rates lower.


Refinance Rates


Today's refinance rates on 15 year conforming loans are averaging 3.01 percent, down from yesterday's average 15 year refinance rate of 3.04 percent. 15 year refinancing rates are also just above record lows set last week.

Jumbo refinance rates today on 30 year jumbo loans are averaging 4.24 percent, a decline from yesterday's average 30 year jumbo refi rate of 4.27 percent. The all-time low for average jumbo refinancing rates was 4.13 percent set back in June.

There are several lenders on our jumbo mortgage rate list offering 30 year jumbo mortgage rates below the average, one lender has 30 year rates listed below 4.00 percent.

Current mortgage rates today on 15 year jumbo loans are averaging 3.47 percent, down from yesterday's average 15 year jumbo mortgage refinance rate of 3.52 percent. Also on our jumbo rate list CitiBank is offering 15 year jumbo mortgage rates below the average rate.

Today's refinance rates on 5 year conforming adjustable loans are averaging 2.69 percent, down from an average 5 year adjustable refi rate of 2.75 percent. 5 year adjustable jumbo refinance rates today are averaging 2.83 percent, a decline from Monday's average 5 year jumbo refi rate of 2.84 percent.
 
Author: Brian McKay
July 10th, 2012