Mortgage Rates December 10, 2019

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Mortgage Rates December 10th 2019After plummeting over the summer, average mortgage rates have been stable the past several months. Mortgage rates changed little week over week with the biggest decline being in average rates for short term adjustable mortgage rates. We expect mortgage rates to pretty much stay near current levels the rest of the year, barring any macroeconomic events.

Mortgage rates in 2020 will also likely remain near current levels, at least for the first half of the year. The likelihood of a recession increases as the year goes on, which would send mortgage rates down from present levels. If a recession does hit next year, we could be looking at record low mortgage rates in 2020 since current rates are just above record lows set in 2012.
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Mortgage Rates December 10, 2019 


Conforming Mortgage Rates

  • Current mortgage rates on 30-year fixed rate loans are averaging 3.70 percent, a slight uptick from last week when average 30-year rates were at 3.68 percent.

  • Today's mortgage rates on 15-year fixed rate loans are at 3.15 percent, a small decline from last week's average 15-year rate of 3.16 percent.

  • Conforming 5-year adjustable mortgage rates are averaging 3.96 percent, down from the previous week's average 5-year rate of 4.03 percent.


Jumbo Mortgage Rates

  • 30-year jumbo mortgage rates are currently averaging 4.01 percent, down from the prior week's average 30-year jumbo rate of 4.04 percent.

  • 15-year jumbo mortgage rates today are averaging 3.89 percent, unchanged from last week's average 15-year jumbo rate

  • 5-year jumbo adjustable mortgage rates are averaging 3.81 percent, a decline of last week's average 5-year jumbo rate of 3.87 percent.


To get the best deal on a mortgage loan, compare online mortgage rates today.
 
Author: Brian McKay
December 10th, 2019