Mortgage Rates Hit A New Weekly Low: 30 Year Mortgage Rates at 4.52%, 15 Year Mortgage Rates at 3.95%

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Mortgage rates fell again this past week, continuing the downtrend of the past couple of months. Mortgage rates make new record lows each week these days. The current national average 30 year mortgage interest rate is at 4.52 percent, down from last week's average 30 year mortgage rate of 4.60 percent. The average 30 year mortgage rates in the state of New Jersey is slightly higher this morning at 4.53 percent.

Current 15 year mortgage rates are averaging 3.95 percent, unchanged from last week's average 15 year mortgage rate. 15 year mortgage rates in New Jersey are also slighly higher the current national average 15 year mortgage rate. Current 15 year mortgage rates today in New Jersey are averaging 3.96 percent.

The weak economic recovery across the globe will keep a lid on interest rates and mortgage rates for the foreseeable future. The most recent news that will keep rates low is the Japanese released a weaker than expected second quarter gross domestic product (GDP). Japan's second quarter GDP increased at an annualized rate of 0.4 percent, considerably lower than the forecast of 2.3 percent.

Mortgage Rates Today

Current 30 year mortgage rates are averaging 4.52 percent, down from last week’s average 30 year mortgage rate of 4.60 percent. Current 30 year refinance mortgage rates are also down this week averaging 4.52 percent.

Today's 15 year mortgage rates are averaging 3.95 percent, unchanged from the previous week’s average 15 year mortgage. 15 year mortgage refinance rates today are also unchanged at 3.95 percent.

Jumbo Mortgage Rates

Current 30 year jumbo mortgage rates are averaging 5.17 percent, up from last week’s average 30 year year jumbo mortgage rate of 5.07 percent. Today's 30 year jumbo mortgage refinance rates are also up to 5.17 percent.

Today's 15 year jumbo mortgage rates are averaging 4.73 percent, an increase from the previous week’s average jumbo mortgage rate of 4.67 percent. Current 15 year jumbo refinance mortgage rates are also averaging 4.73 percent.

Conforming Adjustable Mortgage Rates Today

1 year adjustable mortgage rates are averaging 3.19 percent, unchanged from last week’s average 1 year adjustable home mortgage rate. Current 1 year conforming adjustable refinance mortgage interest rates are also unchanged this week.

3 year adjustable mortgage rates today are averaging 4.04 percent, up from the prior week’s average 3 year adjustable rate mortgage of 4.00 percent. 3 year mortgage refinance rates today are also averaging 4.04 percent this week.

Current 5 year adjustable mortgage interest rates are averaging 3.54 percent, unchanged from the prior week’s average mortgage loan rate. 5 year refinance home mortgage rates today are also unchanged at 3.54 percent.

7 year adjustable mortgage interest rates are averaging 3.81 percent this week, down from the prior week’s average 7 year home mortgage rate of 3.86 percent. Current 7 year mortgage refinance rates are also lower averaging  3.81 percent.

10 year adjustable mortgage rates are averaging 4.08 percent this week, a decline from last week’s average 10 year adjustable mortgage rate of 4.20 percent. Current 10 year home mortgage refinance rates are also lower this week averaging 4.08 percent.

Jumbo Adjustable Mortgage Rates Today

1 year jumbo adjustable mortgage loan rates today are averaging 5.35 percent, unchanged from the prior week’s average 1 year jumbo adjustable mortgage rate. Current 1 year jumbo refinance mortgage rates are also averaging 5.35 percent.

Current 3 year jumbo adjustable mortgage rates today are averaging 4.16 percent, down from last week’s average jumbo mortgage rate of 4.27 percent.  Today's 3 year jumbo refinance mortgage rates are also averaging 4.16 percent.

5 year jumbo adjustable home mortgage interest rates are averaging 3.89 percent this week, a declinse from last week’s average mortgage rate of 3.91 percent. Today's 5 year jumbo mortgage refinance rates are also down to 3.89 percent.

7 year jumbo adjustable mortgage rates are averaging 4.47 percent, down from last week’s average 7 year home mortgage rate of 4.55 percent. Current 7 year jumbo refinance mortgage rates are also lower averaging 4.47 percent.

10 year jumbo mortgage rates are averaging 5.01 percent, down from the previous week’s average 10 year jumbo home mortgage rates of 5.07 percent. 10 year jumbo home refinance interest rates are also down averaging 5.01 percent.

Conforming Interest Only Adjustable Mortgage Rates

Current 3 year interest only adjustable mortgage rates are averaging 4.19 percent, up from last week’s average interest only mortgage loan rate of 4.16 percent. Today's 3 year interest only adjustable refinance mortgage rates are also averaging 4.19 percent.

5 year interest only adjustable mortgage rates are averaging 3.72 percent, down from last week’s average five year interest only mortgage loan rate of 3.37 percent. Current 5 year interest only adjustable refinance mortgage rates are also lower averaging 3.72 percent.

7 year interest only home adjustable mortgage rates currently are averaging 3.96 percent, down from last week’s average 7 year interest-only mortgage interest rate of 4.04 percent. 7 year adjustable refinance rate mortgages are lower averaging 3.96 percent.

Interest Only Adjustable Mortgage Rates Jumbo

Current 3 year jumbo interest only adjustable mortgage rates are averaging 4.55 percent, down from last week’s average jumbo adjustable interest only mortgage rate of 4.63 percent. Current  jumbo IO adjustable refinance rates are also down averaging 4.55 percent.

5 year adjustable jumbo interest only mortgage rates are at 4.32 percent, down from an average IO home mortgage interest rate of 4.33 percent the previous week. Current 5 year jumbo adjustable IO loan rates are also averaging 4.32 percent.

7 year jumbo IO adjustable mortgage rates currently are averaging 4.84 percent, down from an average jumbo 7 year home mortgage rate of 4.90 percent last week. 7 year jumbo adjustable interest-only mortgage rates are also down averaging 4.84 percent.

Home Equity Loan Rates

Current 10 year home equity loan rates are averaging 7.115 percent, no change from last week’s average home equity loan rate.

15 year home equity rates today are averaging 7.433 percent this week, unchanged from last week’s average home equity loan rate.

Home Equity Line of Credit Rates

Today’s average home equity line of credit rates (HELOC) are at 4.762 percent this week, no change from last week’s average HELOC rate.

Use our free mortgage rate widget to keep track of national average mortgage rates. Use our free mortgage calculator to see how much your monthly mortgage payments will be on a home mortgage loan.
Author: Brian McKay
August 16th, 2010