Mortgage Rates May 27: Current 30 Year Mortgage Rates at 4.57%

Mortgage rates are lower today continuing the downtrend of the past two months. Fixed conforming 30 year mortgage rates are averaging 4.57%, down from yesterday's average 30 year rate of 4.62% as reported by MonitorBankRates.com.

Current mortgage rates are so low you would think the housing market would be better off  than it actually is. Home prices are still depressed and still declining in many markets.

I just read an interesting article from Diana Olick of CNBC's Realty Check that mentions several different factors that is keeping home sales depressed. Diana says  "Credit, or lack thereof, coupled with extremely weak consumer confidence is keeping potential buyers on the fence."

Loan Term
Lender
APR / Rate
Fees / Points
Payment
District Lending
NMLS #1835285
5.604%
15-Year Fixed
5.375%
$6,000
Includes 1.000 points for $4,000
Lender Fees: $2,000
$3,242 /mo
Bison State Bank
NMLS #757416
5.843%
15-Year Fixed
5.750%
$2,408
Includes 0.602 points for $2,408
Lender Fees: $0
$3,322 /mo
PenFed Credit Union
NMLS #401822
5.932%
15-Year Fixed
5.625%
$8,000
Includes 1.000 points for $4,000
Lender Fees: $4,000
$3,295 /mo
New American Funding, LLC.
NMLS #6606
6.132%
15-Year Fixed
5.990%
$3,644
Includes 0.911 points for $3,644
Lender Fees: $0
$3,374 /mo
District Lending
NMLS #1835285
6.482%
30-Year Fixed
6.375%
$4,500
Includes 0.625 points for $2,500
Lender Fees: $2,000
$2,496 /mo
Bison State Bank
NMLS #757416
6.699%
30-Year Fixed
6.624%
$3,124
Includes 0.781 points for $3,124
Lender Fees: $0
$2,561 /mo
New American Funding, LLC.
NMLS #6606
6.833%
30-Year Fixed
6.740%
$3,828
Includes 0.957 points for $3,828
Lender Fees: $0
$2,592 /mo
PenFed Credit Union
NMLS #401822
7.022%
30-Year Fixed
6.875%
$5,995
Includes 1.000 points for $4,000
Lender Fees: $1,995
$2,628 /mo
Rocket Mortgage
NMLS #3030
7.035%
15-Year Fixed
6.875%
$4,000
Includes 1.000 points for $4,000
Lender Fees: $0
$3,568 /mo
District Lending
NMLS #1835285
7.143%
5-Year ARM
7.000%
$5,804
Includes 0.951 points for $3,804
Lender Fees: $2,000
$2,662 /mo
Rocket Mortgage
NMLS #3030
7.200%
30-Year Fixed
7.125%
$3,000
Includes 0.750 points for $3,000
Lender Fees: $0
$2,695 /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.

Other average mortgage rates today are also lower. Fixed 15 year conforming mortgage rates are averaging 3.83%, down from yesterday's average 15 year mortgage rate of 3.87%

30 year jumbo mortgage rates are averaging 5.12 percent, down from yesterday's average jumbo mortgage rate of 5.18%. 15 year jumbo rates are down to 4.38%, down from yesterday's average of 4.41%.

You can find today's mortgage rates and refinance rates by searching our rate tables at MortgageRates.MonitorBankRates.com. No personal information is needed to display rates.

 
Author: Brian McKay
May 27th, 2011

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