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Mortgage Rates Higher as Treasury Yields Move Higher: 30 Year Mortgage Rates at 4.96%

Mortgage Rates Higher as Treasury Yields Move Higher: 30 Year Mortgage Rates at 4.96%Mortgage rates are higher this week over last, following U.S.  Treasury yields higher. Current 30 year mortgage rates are averaging 4.96 percent, an increase from the prior week's average mortgage rate of 4.81 percent. Mortgage rates will probably go down this week since the markets are still worried about the financial problems in Europe and the euro continues to slide in value against the dollar. As a result, Treasury yields should head back down as investors flee to the safety of Treasuries.

The New York Times reported Private Mortgage Insurance (PMI) is easier to obtain these days. Some mortgage insurance companies are once again allowing down payments of only 5.00%. Until recently, the only option for home buyers looking to buy a home with less than 20 percent down was an FHA loan.



Looking for mortgage rates and refinance rates? Use our mortgage rates table at MortgageRates.MonitorBankRates.com to find a list of current mortgage rates and refinance rates in your state. Unlike most websites, no personal information is needed for a list of mortgage rates.

15 year mortgage rates declined slightly this week. Current 15 year mortgage rates are averaging 4.27 percent, down from last week’s average 15 year mortgage rate of 4.28 percent.

Current Jumbo Mortgage Rates


Current 30 year jumbo mortgage rates are averaging 5.51 percent, an increase from last week’s average jumbo mortgage interest rate of 5.38 percent. Today's 30 year jumbo mortgage refinance rates are also higher this week over last. Current 30 year jumbo refinance rates are averaging 5.51 percent.

Today's 15 year jumbo mortgage rates are averaging 4.90 percent, up 10 basis points from last week’s average jumbo loan rate of 4.80 percent. Current 15 year jumbo mortgage refinance rates are also higher this week over last. 15 year jumbo refinance rates are averaging 4.90 percent.

Current Adjustable Mortgage Rates


Today's 1 year conforming adjustable mortgage rates are averaging 3.78 percent, a decrease from the previous week’s average 1 year adjustable mortgage rate of 3.82 percent. Current 1 year adjustable mortgage refinance rates are down to 3.78 percent this week.

Current 3 year conforming adjustable rate mortgages are averaging 4.50 percent, an increase from the prior week's average home mortgage rate of 4.35 percent. Current 3 year refinance mortgage rates are averaging 4.50 percent.

5 year conforming adjustable rate mortgages are averaging 4.07 percent, up from last week’s average loan mortgage rate of 3.95 percent. Today's 5 year refinance mortgage rates are also up this week over last. The current average refinance rate is 4.07 percent.

7 year conforming adjustable mortgage rates are averaging 4.24 percent this week, up from last week’s average 7 year mortgage rate of 4.13 percent. Current 7 year refinance rates were also up this week to 4.24 percent.

10 year conforming adjustable mortgage rates are averaging 4.45 percent, a decrease from the previous week’s average 10 year mortgage rate of 4.49 percent. Today's 10 year home loan refinance rates are averaging 4.45 percent.

Jumbo Adjustable Mortgage Rates


1 year jumbo adjustable interest rates are averaging 5.95 percent this week. This is unchanged from the prior week's average 1 year jumbo adjustable mortgage rate. Current 1 year jumbo refinance mortgage rates are also averaging 5.95 percent.

3 year jumbo adjustable rate mortgages are averaging 4.80 percent, a decrease from last week’s average jumbo home loan mortgage rate of 5.05 percent. Current 3 year home jumbo mortgage refinance rates are also down this week, averaging 4.80 percent.

5 year jumbo adjustable mortgage rates are averaging 4.45 percent, up from an average mortgage rate of 4.40 percent last week.  5 year jumbo refinance loan rates are averaging 4.45 percent.

Current 7 year jumbo adjustable rates are averaging 5.26 percent this week, an increase from last week’s average loan mortgage rate of 5.14 percent. Current 7 year jumbo refinance rates are also up to 5.26 percent this week.

10 year jumbo mortgage interest rates are averaging 5.67 percent this week, an increase from last week’s average 10 year jumbo mortgage interest rate of 5.56 percent. 10 year jumbo loan refinance rates increased this week to 5.67 percent.

Interest Only Mortgage Rates


Conventional 3 year interest only mortgage rates are averaging 4.63 percent this week, up from the prior week’s average IO mortgage rate of 4.52 percent.

5 year conventional interest only home loans are averaging 4.05 percent this week, up from the previous week’s average five year interest only mortgage rate of 3.75 percent.

7 year IO home loans are averaging 4.41 percent, an increase from last week's average interest only mortgage rate of 4.25 percent.

Jumbo Interest Only Mortgage Rates


3 year jumbo interest only mortgage rates are averaging 5.35 percent this week, a decrease from an average jumbo interest mortgage rate of 5.47 percent last week.

5 year jumbo IO loan rates are averaging 5.03 percent, down from last week’s average IO mortgage rate of 5.06 percent.

7 year jumbo IO loans are averaging 5.79 percent this week, an increase from last week’s average jumbo 7 year rate of 5.53 percent.

Home Equity Loan Rates


10 year home equity loan rates are averaging 7.255 percent, a decrease from last week’s average home equity loan rate of 7.293 percent.

15 year home equity rates are averaging 7.416 percent this week, unchanged from last week’s average home equity rate.

Home Equity Line of Credit Rates (HELOC)


The current average home equity line of credit rates are averaging 4.777 percent this week, up from last week’s average HELOC rate of 4.664.
 
Author: Brian McKay
June 1st, 2010