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Mortgage Rates Make Fresh Lows: 30 Year Mortgage Rates at 4.57%, 15 Year Mortgage Rates at 4.07%

Mortgage rates hit fresh lows this past week with the exception of 15 year mortgage rates. 30 year mortgage rates and 5 year adjustable mortgage rates have all hit all time lows in Freddie Mac’s Primary Mortgage Market Survey released yesterday. 30 year fixed conforming mortgage rates down to 4.57 percent for the week ending July 8, 2010, a slight decline from the previous week’s average 30 year mortgage rate of 4.58 percent. Average mortgage discount points on 30 year mortgages remained unchanged at 0.7 points.


Find the best mortgage rates and refinance mortgage rates today by searching our mortgage rates table at MortgageRates.MonitorBankRates.com. Unlike most websites, no personal information is needed to display a current list of mortgage rates in your state.


30 year mortgage rates have been going lower for over a month now following bond yields lower. 10 year U.S. Treasury yields broke 3.00 percent on June 29 and hitting a recent low of 2.92 percent on the weak employment report for June. Bond yields did head higher after The Labor Department released a report on Thursday showing jobless applications declined by 21,000 for the week ending July 3. Mortgage rates will head higher this week if bond yields continue to go higher.




15 year fixed conforming mortgage rates are up for the week ending July 8, 2010. Current 15 year mortgage rates are averaging 4.07 percent, up from the prior week’s average 15 year mortgage rate of 4.04 percent. Mortgage discount points on 15 year mortgages averaged 0.7 points, unchanged from the prior week’s average.


Current 5 year U.S. Treasury indexed adjustable mortgage rates were als0 lower for the week ending July 8, 2010. Current 5 year adjustable mortgage rates are averaging 3.76 percent, a decline from last week’s average 5 year adjustable mortgage interest rate of 3.79 percent. Mortgage discount points on 5 year adjustable rate mortgages averaged 0.7 points, unchanged from the previous week.


Current 1 year U.S Treasury indexed adjustable rate mortgages averaged 3.75 percent for the week ending July 8, 2010, down from last week’s average 1 year adjustable mortgage rate of 3.80 percent. Mortgage points averaged o.7 points, up from last week’s average of 0.6 points.


Following is a more in-depth mortgage rate report released by MonitorBankRates.com on Monday.



Current Mortgage Rates


30 year mortgage rates declined to 4.67 percent this week, down from the previous week’s average 30 year mortgage interest rate of  4.72 percent. Today’s 15 year mortgage rates are slightly higher this week over last. The current average 15 year mortgage rates is at 4.16 percent, up from the previous week’s average 15 year home mortgage rate of 4.14 percent.


Today's Jumbo Mortgage Rates


Current 30 year jumbo mortgage rates are averaging 5.33 percent this week, unchanged from the prior week’s average jumbo home loan rate. Current 30 year jumbo refinance rates are also averaging 5.33 percent.


15 year jumbo loan rates today are averaging 4.84 percent, an increase from last week’s average jumbo mortgage interest rate of 4.75 percent. 15 year jumbo refinance mortgage rates today are also higher averaging 4.75 percent.


Conventional Adjustable Mortgage Rates Current


Current 1 year adjustable mortgage rates are averaging 3.56 percent, unchanged from last week’s average 1 year adjustable interest mortgage rate. Today’s 1 year adjustable refinance mortgage interest rates are also averaging 3.56.


Average 3 year adjustable mortgage rates are at 4.21 percent this eek, up from last week’s average 3 year adjustable rate mortgage of 4.09 percent. 3 year mortgage refinance rates today are also higher this week, averaging 4.21 percent.


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


7 year adjustable mortgage rates are averaging 3.90 percent this week, an increase from last week’s average 7 year home mortgage rate of 3.88 percent. Today’s 7 year mortgage refinance rates are also higher averaging 3.88 percent.


10 year adjustable mortgage interest rates are averaging 4.20 percent this week, down from the previous week’s average 10 year adjustable mortgage rate of 4.33 percent.  Current10 year home mortgage refinance rates are also lower, averaging 4.20 percent.


Jumbo Adjustable Mortgage Rates Current


Today’s 1 year jumbo adjustable mortgage loan rates are averaging 5.95 percent, no change from last week’s average 1 year adjustable jumbo interest mortgage rate. Today’s 1 year jumbo refinance mortgage rates are also averaging 5.95 percent.


Current 3 year jumbo adjustable mortgage interest rates are averaging 4.73 percent, up from last week’s average jumbo interest mortgage rate of 4.64 percent. Today’s 3 year jumbo refinance mortgage rates are also lower, averaging 4.73 percent.


5 year jumbo adjustable home mortgage rates are averaging 4.03 percent this week, down slightly from last week’s average mortgage rate of 4.04 percent. Current 5 year jumbo refinance rates are also down slightly averaging 4.03 percent.


7 year jumbo adjustable mortgage rates today are averaging 4.71 percent, down from last week’s average 7 year home mortgage rate of 4.78 percent. Current 7 year jumbo refinance rates today are also down to 4.71 percent.


10 year bank  jumbo mortgage rates are averaging 5.43 percent, a decline from the prior week’s average 10 year jumbo home mortgage rates of 5.49 percent. Current 10 year jumbo home loan refinance rates are also averaging 5.43 percent.


Current Interest Only Conforming Mortgage Rates


Today’s 3 year interest only mortgage rates are averaging 4.42 percent, up from last week’s average interest only mortgage loan rate of 4.26 percent.


5 year interest only mortgage rates today are averaging 3.67 percent, down from last week’s average five year interest only mortgage loan rate of 3.71 percent.


7 year interest only home mortgage rates today are averaging 4.02 percent, unchanged from last week’s average 7 year IO mortgage rate of 4.30 percent last week.


Interest Only Jumbo Mortgage Rates Today


Current 3 year jumbo interest only loan mortgage rates are averaging 5.27 percent, down from last week’s average jumbo interest only mortgage rate of 5.60 percent.


Current average 5 year jumbo interest only home loan rates are at 4.54 percent, down from an average IO home mortgage rate of 4.63 percent.


7 year jumbo IO bank mortgage rates today are averaging 4.81 percent, down from an average jumbo 7 year home mortgage rate of 5.01 percent last week.


Today's Home Equity Loan Rates


Current 10 year home equity loan rates are averaging 7.115 percent, down from last week’s average home equity loan interest rate of 7.139 percent.


Today’s 15 year home equity rates are averaging 7.433 percent this week, down from last week’s average home equity loan rate of 7.446.


Home Equity Line of Credit Rates Today


Today’s average home equity line of credit rate (HELOC) is at 4.777 percent this week, unchanged from last week’s average HELOC rate.



 
Author: Brian McKay
July 9th, 2010