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Mortgage Rates and Refinance Rates on Martin Luther King, Jr. Day: 30 Year Rates at 4.74, 15 Year Rates at 3.99%

Fixed long term mortgage loan rates and refinance rates are lower on Martin Luther King, Jr. Day. The biggest drop in rates came on 15 year jumbo rates which declined 30 basis points and 5 year conforming adjustable rates which declined 45 basis points. Current 30 year conforming mortgage interest rates and refinancing rates are averaging 4.74 percent, down from last week’s average 30 year home loan rates and refi rate of 4.78 percent. Current Florida 30 year rates and current mortgage refinancing rates are higher than the national average 30 year rate. Today's 30 year FL rates are averaging 4.85 percent.

15 year conforming mortgage refinancing rates today and mortgage interest rates are back under 4.00 percent this week. Today's 15 year rates are averaging 3.99 percent, down from the prior week when 15 year mortgage loan rates and refinance loan rates averaged 4.21 percent. 15 year mortgage loan rates and mortgage refinance rates today rates in Maine are slightly lower than the national average 15 year rate. Today's rates in ME are at 3.98 percent.

30 year jumbo mortgage interest rates and 30 year jumbo home mortgage refinance rates are averaging 5.39 percent, an increase from last week’s average jumbo rate and jumbo refi rate of 5.37 percent. 30 year jumbo interest rates and home mortgage refinancing rates in California are higher, averaging 5.44 percent.

15 year jumbo home rates and jumbo refinancing loan rates are averaging at 4.45 percent, down from the prior week’s average jumbo mortgage rate of 4.74 percent. 15 year jumbo rates and mortgage refinance rates in Texas are higher, averaging 4.65 percent. You can find some of the lowest mortgage refinancing rates right here at

Mortgage Rates

Current Conforming Adjustable Interest Rates and Conforming Adjustable Refi Rates Today

The current refinancing rate and mortgage loan rate on 1 year adjustable rates are averaging 3.12 percent, up from last week’s average 1 year adjustable home mortgage refi rate and loan rate of 3.05 percent.

3 year adjustable current mortgage refinancing rate rates and adjustable loan rates are averaging 3.37 percent, down from last week’s average 3 year adjustable mortgage loan rate of 3.42 percent.

Current refinance rates and interest rates on 5 year adjustable mortgages are averaging 3.26 percent, down  from the prior week’s average rate of 3.71 percent.

Current refinance mortgage rates and mortgage rates on 7 year adjustable mortgage loans are averaging 3.63 percent, down from the previous week’s average 7 year loan rate of 3.90 percent.

10 year adjustable mortgage loan rates today are averaging 4.28 percent this week, unchanged from last week’s average 10 year adjustable rate. Current mortgage refinance rates on 10 year home loans are also averaging 4.28 percent.

Adjustable Jumbo Refinance Rates and Jumbo Loan Rates on Mortgages

1 year jumbo adjustable loan rates are averaging 3.63 percent, up from the prior week’s average 1 year jumbo adjustable loan mortgage interest rate of 3.39 percent. Today refinance rates on 1 year jumbo loans are also averaging 3.39 percent.

3 year adjustable jumbo rates are higher averaging 4.23 percent, down from last week’s average 3 year jumbo adjustable rate of 4.31 percent. Today’s refinance interest rates on 3 year jumbo mortgage loans are also lower, averaging 4.23 percent.

5 year adjustable jumbo interest rates today are averaging 3.66 percent, down from last week’s average jumbo adjustable rate of 3.88 percent. Today's refi mortgage interest rates are also averaging 3.88 percent.

7 year jumbo adjustable loan rates today are averaging 4.56 percent, down from last week’s average 7 year adjustable home loan rate of 4.69 percent. 7 year jumbo refinance loan rates are also lower at 4.56  percent.

Today’s 10 year jumbo loan rates are averaging 5.10 percent, down from the prior week’s average 10 year jumbo home loan rate of 5.24 percent. 10 year jumbo refinance interest rates are also lower averaging 5.10 percent.

Current Refinancing Rates and Loan Rates on Conforming Interest Only Adjustable Mortgages

3 year interest only adjustable mortgage loan rates are averaging 3.58 percent, down from last week’s average interest only mortgage loan rate of 3.61 percent. 3 year interest only adjustable refinance loan rates are also lower, averaging 3.58 percent.

5 year interest only adjustable loan rates are averaging 3.43 percent, down from last week’s average five year interest only mortgage loan rate of 3.66 percent. Today's 5 year interest only adjustable refinance mortgage loan rates are also averaging 3.43 percent.

7 year interest only adjustable mortgage loan rates are averaging 3.81 percent, down from last week’s average 7 year interest-only mortgage interest rate of 4.18 percent. 7 year adjustable refi loan rates are averaging 3.81 percent.

Current Mortgage Refinancing Rates and Loan Rates on Interest Only Adjustable Mortgages

3 year jumbo interest only adjustable loan rates are averaging 4.78 percent, down from last week’s average jumbo adjustable interest only rate of 4.96 percent. 3 year interest only adjustable jumbo refi rates are also lower averaging 4.78 percent.

5 year adjustable jumbo loan interest only rates are averaging 4.20 percent, down from last week’s average IO home mortgage interest rate of 4.42 percent. 5 year jumbo adjustable IO loan rates are also averaging  lower at 4.20 percent.

7 year jumbo interest only adjustable rates are averaging 4.89 percent, down from an average jumbo 7 year home loan rate of 5.02 percent. Current 7 year jumbo adjustable interest-only rates are also averaging 4.89  percent.

Home Equity Loan Rates Today

10 year home equity loan rates are averaging 6.714 percent, unchanged from last week’s average home equity rate.

15 year home equity rates are averaging 7.093 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 5.15 percent, unchanged from last week’s average HELOC rate.
Author: Brian McKay
January 17th, 2011