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Mortgage Rates Decline on Economic and Investor Uncertainty

Mortgage rates are lower again today which was expected due to investor uncertainty in the markets and worries about Europe's lingering debt issues. Average 30 year mortgage rates are at 4.62% as reported by 30 year rates are down from yesterday's average rate of 4.72%.

3 year conforming adjustable mortgage rates had the biggest decline. This again is expected since short term bond yields are going lower. 3 year adjustable rates fell to 3.12%, down 30 basis points from 3.42%.

The yield spread between the average 5 year conforming ARM and 5 year jumbo ARM is only 6 basis points, the narrowest spread ever reported by us.

Find today's mortgage rates in your state by searching our mortgage rate tables at You can see competitive rates instantly and unlike most other websites no personal information is needed to view a list of rates.

  • 15 year mortgage rates currently are at 3.84%, down slightly from yesterday's average 15 year loan rate of 3.86%.

  • Current 30 year jumbo mortgage rates are averaging 5.18%, unchanged from yesterday's average 15 year mortgage rate.

  •  Current 15 year jumbo mortgage rates are also lower averaging 4.41%, down from yesterday's average 15 year jumbo rate of 4.46%.

Mortgage Rates

Current Rates on Fixed Mortgages

30 Year Fixed Conforming 4.62%
30 Year Fixed Jumbo 5.18%
15 Year Fixed Conforming 3.84%
15 Year fixed Jumbo 4.41%

Current Rates on Adjustable Mortgages

1 Year Conforming ARM 6.16%
1 Year Jumbo ARM 4.05%
3/1 Year Conforming ARM 3.12%
3/1 Year Jumbo ARM 3.91%
5/1 Year Conforming ARM 3.40%
5/1 Year Jumbo ARM 3.46%
7/1 Year Conforming  ARM 3.54%
7/1 Year Jumbo ARM 4.04%
10/1 Year Conforming ARM 4.00%
10/1 Year Jumbo ARM 4.56%

Current Rates on Interest Only Mortgages

Interest Only: 3/1 Year Conforming ARM 3.12%
Interest Only: 3/1 Year Jumbo ARM 4.12%
Interest Only: 5/1 Year Conforming ARM 3.26%
Interest Only: 5/1 Year Jumbo ARM 3.83%
Interest Only: 7/1 Year Conforming ARM 3.71%
Interest Only: 7/1 Year Jumbo ARM 4.28%

Current Rates on Home Equity Loans and HELOCs

Home Equity Line of Credit 4.95%
Home Equity Loan - 10 Years 6.77%
Home Equity Loan - 15 Years 6.87%

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Author: Brian McKay
May 24th, 2011