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Home Mortgage Rates Plunge Hitting Another Record Low: 30 Year Conforming Mortgage Rates at 4.07%, 30 Year Jumbo Mortgage Rates at 4.65%

Mortgage rates plunged over the weekend following 10 year bond yields lower on a weak employment report released on Friday. 30 year fixed conforming home mortgage rates fell 19 basis points to a new all-time low of 4.07 percent today. Home mortgage rates and bond yields are sharply lower on the expectation that the Federal Reserve will start another around of quantitative easing (QE2). A weak jobs report for September made the probability of another round of easing more likely.

We will probably see 30 year fixed conforming mortgage rates below 4.00 percent and 30 year fixed jumbo mortgage rates below 4.50 percent just on the hopes the fed will start another round of easing.

Fixed conforming 30 year mortgage rates are averaging 4.07 percent today, down from last week's average 30 year home mortgage rate of 4.30 percent. Maryland 30 year mortgage rates are averaging 4.23 percent, considerably higher than the national average rate.

Fixed conventional 15 year home mortgage rates today are averaging 3.53 percent, a decline from the previous week's average 15 year mortgage interest rate of 3.75 percent. Fixed conforming 15 year home mortgage interest rates in Kansas are just lower than the national average at 3.52 percent.

Current 30 year jumbo home mortgage rates are averaging 4.65 percent, down from last week's average 30 year jumbo loan rate of 4.75 percent. 30 year jumbo mortgage rates in Washington state are averaging 4.83 percent.

Today's 15 year jumbo mortgage rates are averaging 4.16 percent, down from last week's average 15 year jumbo mortgage loan rate of 4.23 percent.  Current 15 year jumbo mortgage mortgage loan rates in Wisconsin are lower at 4.11 percent.

Mortgage Rates

Conforming Mortgage Interest Rates Today

30 year mortgage rates today are averaging 4.07 percent, down from last week’s average 30 year home mortgage rate 4.30 percent. 30 year refinance mortgage rates today are also lower, averaging 4.07 percent.

15 year mortgage loan rates today are averaging 3.53 percent, down from the previous week’s average 15 year mortgage interest rate of 3.75 percent. 15 year mortgage refinance loan rates today are also lower, averaging 3.52 percent.

Jumbo Mortgage Rates Today

30 year jumbo mortgage loan rates today are averaging 4.65 percent, down from the previous week’s average 30 year jumbo mortgage interest rate of 4.76 percent. 30 year jumbo loan refinance rates today are lower averaging in at 4.65 percent.

15 year jumbo mortgage interest rates today are averaging at 4.16 percent, a decline from the prior week’s average jumbo mortgage loan rate of 4.24 percent. 15 year jumbo mortgage refinance rates today are also lower at 4.16 percent.

Conventional Adjustable Mortgage Interest Rates Today

1 year adjustable mortgage rates today are averaging 3.17 percent, an increase from last week’s average 1 year adjustable home mortgage loan rate of 3.14 percent. Current 1 year conforming adjustable refinance loan mortgage rates are also higher averaging 3.17 percent.

3 year adjustable mortgage rates today are averaging 3.30 percent, a decrease from last week’s average 3 year adjustable mortgage loan rate of 3.48 percent. Today’s 3 year mortgage refinance rates are also lower averaging 3.30 percent.

5 year adjustable mortgage loan rates today are averaging 3.10 percent, down from the prior week’s average mortgage rate of 3.19 percent. 5 year refinance home loan rates today are also lower at 3.10 percent.

7 year adjustable mortgage loan interest rates today are averaging 3.29 percent, down from the previous week’s average 7 year home mortgage rate of 3.45 percent. Today’s 7 year refinance interest rates are lower averaging 3.29 percent.

10 year adjustable mortgage loan rates are averaging 3.67 percent this week, down from last week’s average 10 year adjustable mortgage rate of 3.84 percent. 10 year home refinance rates today are also averaging 3.67 percent.

Adjustable Jumbo Mortgage Rates Today

Current 1 year jumbo adjustable loan interet rates are averaging 5.32 percent, unchanged from the prior week’s average 1 year jumbo adjustable loan mortgage interest rate. 1 year jumbo refinance loan mortgage rates today are unchanged at 5.32 percent.

3 year adjustable jumbo mortgage rates today are higher averaging 4.04 percent, up from last week’s average 3 year jumbo adjustable loan rate of 4.04 percent. 3 year refinance jumbo mortgage rates today are also higher at 4.04 percent.

5 year adjustable jumbo mortgage rates today are averaging 3.46 percent, down from last week’s average mortgage rate of 3.57 percent. 5 year jumbo mortgage refi rates today are also lower at 3.46 percent.

7 year jumbo adjustable mortgage rates today are averaging 4.35 percent, down from last week’s average 7 year home mortgage loan rate of 4.37 percent. 7 year jumbo refinance mortgage rates today are also lower, averaging 4.35 percent.

10 year loan jumbo loan interest rates are averaging 4.25 percent, down from the prior week’s average 10 year jumbo home mortgage rate of 4.82 percent. 10 year jumbo home loan refinance interest rates today are also lower averaging 4.25 percent.

Conventional Interest-Only Adjustable Mortgage Rates Today

3 year interest only adjustable mortgage loan rates today are averaging 3.44 percent, down from last week’s average interest only mortgage loan rate of 3.64 percent. 3 year interest only adjustable refinance mortgage rates are also lower averaging 3.44 percent.

Current 5 year interest only adjustable loan rates are averaging 3.10 percent, down from last week’s average five year interest only mortgage loan rate of 3.26 percent.  5 year interest only adjustable refinance mortgage rates are averaging 3.10 percent.

7 year interest only adjustable mortgage loan rates are averaging 3.29 percent, down from last week’s average 7 year interest-only mortgage interest rate of 3.42 percent. 7 year adjustable refinance rate mortgages today are averaging 3.29 percent.

Jumbo Interest Only Adjustable Mortgage Rates Today

3 year jumbo interest only adjustable mortgage rates today are averaging 4.41 percent, down from last week’s average jumbo adjustable interest only mortgage rate of 4.42 percent. 3 year interest only adjustable jumbo refinance rates today are averaging 4.41 percent.

5 year adjustable jumbo loan interest only mortgage rates today are averaging 4.16 percent, up from last week’s average IO home mortgage interest rate of 4.11 percent. 5 year jumbo adjustable IO loan rates are also higher averaging 4.16 percent.

7 year jumbo IO loan adjustable mortgage rates are averaging 4.62 percent, down from an average jumbo 7 year home mortgage rate of 4.69 percent last week. 7 year jumbo adjustable interest-only mortgage rates today are also averaging 4.62 percent.

Home Equity Loan Rates Today

Current 10 year home equity loan rates are averaging 6.766 percent, unchanged from the previous week’s average home equity loan rate.

15 year home equity rates today are averaging 7.095 percent, unchanged from last week’s average home equity rate.

Home Equity Line of Credit Rates Current

Home equity line of credit rates are averaging 4.947 percent, up from last week's average HELOC rate of 4.913 percent.
Author: Brian McKay
October 11th, 2010