Mortgage Rates Drift Lower as Interest Rates Head Down
Although the recession is expected to end this year, people are feeling less optimistic about their personal finance at anytime in the past 60 years. Find current mortgage rates in your area by searching our mortgage rate tables. Lender
APR / Rate
Fees / Points
Payment
$3,032
Includes 0.758 points for $3,032
Lender Fees: $0
$3,267 /mo
$3,648
Includes 0.912 points for $3,648
Lender Fees: $0
$3,267 /mo
$4,172
Includes 0.868 points for $3,472
Lender Fees: $700
$3,267 /mo
$4,570
Includes 0.875 points for $3,500
Lender Fees: $1,070
$3,269 /mo
$5,070
Includes 1.000 points for $4,000
Lender Fees: $1,070
$2,496 /mo
$3,292
Includes 0.823 points for $3,292
Lender Fees: $0
$2,526 /mo
$3,744
Includes 0.936 points for $3,744
Lender Fees: $0
$2,529 /mo
$4,592
Includes 0.973 points for $3,892
Lender Fees: $700
$2,526 /mo
$4,184
Includes 0.714 points for $2,856
Lender Fees: $1,328
$2,562 /mo
$4,495
Includes 0.625 points for $2,500
Lender Fees: $1,995
$2,562 /mo
$4,954
Includes 0.971 points for $3,884
Lender Fees: $1,070
$2,562 /mo
Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Rate and product details.
Mortgage Rate Tables As consumers are feeling less optimistic about their finances, the Chinese government is feeling a lot more optimistic about the U.S. housing market and mortgage backed securities. The government's sovereign wealth fund, China Investment Corp, is going to buy up to $2 billion in U.S. mortgage securities through the U.S. Treasury-backed Public-Private Investment Plan (PPIP). This investment is a positive sign especially since several sovereign funds got burned last year making investments in U.S. in the early part of the credit crisis. Mortgage RatesToday's mortgage rates are down across the board this week compared to last week. 30-year mortgages, 15-year mortgages and jumbo mortgage rates had decent declines. The biggest drop was in jumbo adjustable rate mortgages while home equity loan rates and HELOC rates remained steady. The average rate on a conventional 30-year mortgage is at 5.31 percent today, down from the previous week's average mortgage rate of 5.51 percent. 15-year conforming mortgage rates declined to 4.75 percent, down from the prior week's average mortgage rate of 4.87 percent. Jumbo Mortgage RatesJumbo rate mortgages more down more than conforming mortgages this past week. The average mortgage rate on a fixed rate 30-year jumbo loan is at 6.13 percent today, down from last week's average mortgage rate of 6.31 percent. 15-year jumbo mortgage rates had a bigger decline, the 15-year rate is now back under 6.00 percent at 5.88 percent, down from the prior week's average rate of 6.15 percent. Adjustable Mortgage RatesAdjustable rate mortgages were down the most this past week, longer term adjustable mortgage rates were down more than shorter term rates. The average rate on a 10-year conforming ARM is at 5.22 percent this week, down from last week's average rate of 5.37 percent. The average rate on a 7-year conventional ARM is back under 5.00 percent at 4.86 percent, down from the prior week's average mortgage interest rate of 5.05 percent. The average mortgage loan rate for a conforming 5-year ARM is under 4.50 percent at 4.48, down from the previous week's average rate of 4.61 percent. 3-year conventional adjustable mortgage rates are averaging 4.55 percent this week, down from last week's average mortgage rate of 4.66 percent. The average 1-year adjustable home mortgage rate is at 4.34 percent, up from last week's average rate of 4.33 percent. Jumbo Adjustable Rate MortgagesJumbo adjustable rate mortgages were down in a big way this week over last. The average rate on a 10-year jumbo ARM was down almost .50 percent to 6.39 percent, down from the prior week's average rate of 6.86 percent. 7-year jumbo ARMs are down under 6.00 percent again at 5.91 percent, down from last week's average rate of 6.30 percent. 5-year jumbo ARMs are averaging 5.31 percent, down from last week's average mortgage rate of 5.62 percent. 3-year jumbo ARMs are back under 5.50 percent at 5.48 percent, down from the previous week's average rate of 5.81 percent. The average rate on a 1-year jumbo ARM is at 4.99 percent today, down from last week's average rate of 5.21 percent. Interest-Only Mortgage RatesInterest only mortgage loan rates were down with the biggest declines in rates coming from jumbo mortgages. The average rate on a jumbo 7-1 interest only ARM is at 6.13 percent, down from last week's average rate of 6.61 percent. 5-1 IO ARMs declined to 5.56 percent, down from the prior week's average mortgage rate of 5.92 percent. The average home loan rate on a 3-1 jumbo IO is at 5.71 percent this week, down from last week's average rate of 6.17 percent. HELOC RatesHome equity line of credit rates were unchanged this week over last week. The average HELOC rate is currently at 4.82 percent. Home Equity Loan RatesHome equity loan rates were down slightly this week over last week. The average rate on a 10-year home equity loan is at 7.618 percent this week, down from last week's average loan rate of 7.623 percent. The average rate on a 15-year home equity loan is currently at 7.742 percent this week, down from the previous week's average rate of 7.744 percent. Find current mortgage rates in your zip code: Current Mortgage Rates Explore Other Mortgage and Refinance Offers
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