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Mortgage Rates Up to 5.39%: Current Mortgage Rates Mostly Up

mortgage-rates-up-to-539Current Mortgage Rates


Mortgage rates are up again today, current mortgage rates have been treading higher the past couple of days. The rate on a  fixed 30-year mortgage increased from 5.33 percent last week to 5.39 percent today. The mortgage rate on a fixed 15-year mortgage is up to 4.84 percent today, up from last week's average rate of 4.79 percent.



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Jumbo Mortgage


Jumbo mortgage rates are headed in the opposite direction the past couple of days. Continuing to narrow the spread between conforming mortgages and jumbo mortgages. The rate spread was thrown out of whack during the credit crises, since the credit markets are returning back to normal,  jumbo mortgage rates have returned to a more historical range of around one percent higher than conforming rates.

30-year jumbo rates are currently at 6.18 percent today, down from 6.20 percent last week at this time. The average 15-year jumbo mortgage interest rate has also come down this week to 5.80 percent from 5.83 percent this time a week ago.

Adjustable Rate Mortgages


For the most part adjustable mortgage rates are higher today than earlier this week except for one-year adjustable mortgages and a 7/1 adjustable rate mortgage. One-year conforming ARMs are at 4.41 percent, down from 4.51 percent this time last week, possibly the lowest mortgage rate available.  The average rate on a 3/1 conforming ARM is at 4.69 percent, up from 4.63 percent. The average rate on a 5/1 ARM is at 4.59 percent, up from 4.53 percent lower than a 3/1 adjustable. The current mortgage rate on a conforming 7/1 ARMs is at 5.09 percent, down from 5.14 percent last week at this time.

Jumbo Adjustable Mortgage Rates


Longer term jumbo ARMs have had a large increase in the average rate this week, while shorter term mortgage rates increased slightly. One-year jumbo ARMs are averaging 5.20 percent today, down from a rate of 5.24 percent last week. The average rate home mortgage rate on a 3/1 jumbo ARM is at 5.41 percent, up from 5.32 percent. The average mortgage loan rate on a 5/1 jumbo ARM is at 5.51 percent, up from 5.41 percent last week at this time. Mortgage home rates for jumbo 7/1  ARMs are at 6.17 percent, up from 5.95 percent last week at this time.

MonitorBankRates.com has free mortgage rate tables you can search for current mortgage rates in your zip code.

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Author: Brian McKay
July 25th, 2009