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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."

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: Robert Till
May 27th, 2011