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Mortgage Rates Near Historic Lows: 30 Year Mortgage Rates at 4.76%, 15 Year Mortgage Rates at 4.25%

Mortgage Rates Near Historic Lows 30 Year Mortgage Rates at 476 15 Year Mortgage Rates at 425Mortgage rates are hovering just above historic lows this past week. 30 year mortgage rates have stayed under 5.00 percent for eight consecutive weeks. The last time 30 year mortgage rates were above 5.00 percent was on May 3, 2010 when rates were averaging 5.03 percent. Mortgage rates have been slowly drifting lower since May 3 but the declines accelerated when the sovereign government debt crisis in Europe started a few weeks ago. Weaker U.S. employment reports also drove mortgage rates lower.

Use our mortgage rates table at to find mortgage rates in your state. Unlike most websites, no personal information is needed for a list of mortgage rates.

The future direction of mortgage rates will undoubtedly be higher. As the economic recovery gains traction interest rates will head higher. Another factor that will drive interest rates higher is China hinted over the weekend that it would allow a gradual rise in the value of the renminbi. As a result, the Chinese Currency rose to its highest level in almost two years. A stronger renminbi will increase the purchasing power of the average Chinese consumer, raising demand for goods the world over.

Home Mortgage Rates

Current 30 year fixed mortgage rates are averaging 4.76 percent, up fractionally from last week’s average 30 year mortgage rate of 4.765 percent. The current average 30 year mortgage refinancing rate is also slightly higher this week at 4.76 percent.

15 year fixed mortgage rates are averaging 4.25 percent this week, unchanged from the prior week's average 15 year mortgage rate. 15 year refinance mortgage loan rates are averaging 4.25 percent.

Jumbo Mortgage Rates Today

30 year jumbo mortgage rates today are averaging 5.40 percent, down from an average jumbo mortgage loan rate of 5.43 percent. Current 30 year jumbo refinance rates are also averaging 5.40 percent this week.

Current 15 year jumbo mortgage loan rates are averaging 4.85 percent, a decline from an average jumbo mortgage rate of 4.89 percent last week. 15 year jumbo mortgage refinance rates are also lower this week, averaging 4.85 percent.

Conforming Adjustable Mortgage Rates

  • Today's 1 year adjustable mortgage rates are averaging 3.71 percent, unchanged from last week's average 1 year adjustable interest mortgage rate. 1 year adjustable refinance mortgage interest rates are currently averaging 3.71, unchanged from last week's average refinance rate.

  • 3 year adjustable mortgage rates are averaging 4.36 percent, an increase from last week's average mortgage rate of 4.32 percent. 3 year mortgage refinance rates are also higher this week averaging 4.36 percent.

  • 5 year adjustable mortgage interest rates are averaging 3.67 percent, a decline from last week's average home loan rate of 3.75 percent. 5 year refinance home mortgage rates are averaging 3.67 percent this week.

  • 7 year adjustable mortgage rates are averaging 4.13 percent this week, down from the previous week’s average 7 year home mortgage rate of 4.15 percent. 7 year mortgage refinance rates today are also averaging 4.13 percent.

  • 10 year adjustable mortgage loan rates are averaging 4.46 percent this week, slightly higher from last week's average 10 year adjustable mortgage rate of 4.45 percent. Today's 10 year home loan mortgage refinance rates are also higher, averaging 4.46 percent.

Jumbo Adjustable Mortgage Rates

  • Current 1 year jumbo adjustable mortgage interest rates are averaging 5.95 percent, unchanged from last week’s average 1 year adjustable jumbo mortgage rate. Current 1 year jumbo refinance mortgage rates are also averaging 5.95 percent.

  • 3 year jumbo adjustable  mortgage rates are averaging 4.74 percent, down 20 basis points from last week's average jumbo bank mortgage rate of 4.94 percent. 3 year bank jumbo mortgage refinance rates are also lower averaging 4.74 percent.

  • Currently, 5 year jumbo adjustable mortgage rates are averaging 4.16 percent, a decline from last week’s average mortgage rate of 4.24 percent. 5 year jumbo home refinance loan rates are averaging 4.16 percent.

  • 7 year jumbo adjustable mortgage interest rates are averaging 4.86 percent, down from last week’s average 7 year home loan rate of 4.98 percent. 7 year jumbo refinance rates are also down to 4.86 percent.

  • 10 year jumbo home mortgage rates today are averaging 5.60 percent, up from an average 10 year jumbo home mortgage rate of 5.58 percent last week. Current 10 year jumbo home loan refinance rates are also averaging 5.60 percent this week.

Interest Only Conforming Mortgage Rates

  • 3 year interest only mortgage rates today are averaging 4.54 percent, an increase from the prior week’s average interest only mortgage loan rate of 4.51 percent.

  • Current 5 year conventional interest only mortgage loans today are averaging 3.86 percent, a decrease from last week’s average five year interest only mortgage loan rate of 4.88 percent.

  • 7 year interest only home mortgage rates today are averaging 4.30 percent, an increase from an average mortgage rate of 4.37 percent last week.

Jumbo Interest Only Mortgage Rates

  • 3 year jumbo interest only loan mortgage rates are averaging 5.60 percent this week, up from an average jumbo interest only mortgage rate of 5.51 percent last week.

  • 5 year jumbo interest only home loan rates are averaging 4.81 percent, down slightly from an average IO home mortgage rate of 4.82 percent.

  • Current 7 year jumbo interest-only mortgage loan rates are averaging 5.18 percent, a decrease from an average jumbo 7 year home mortgage rate of 5.30 percent last week.

Home Equity Loan Rates

  • 10 year home equity loan rates are averaging 7.139 percent, unchanged from last week’s average home equity loan rate.

  • 15 year home equity rates are averaging 7.446 percent this week, unchanged from last week’s average home equity rate.

Home Equity Line of Credit Rates

The current average home equity line of credit rates (HELOC) are averaging 4.777 percent this week, unchanged from last week’s average HELOC rate.
Author: Brian McKay
June 21st, 2010