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Mortgage Rates: Updated May 4th

Mortgage rates remained steady the past week, no big changes in rates. Fixed rate mortgages are still at historic lows. 30-year conforming mortgage rates went up to 5.02% from 4.96%. 15-year conforming mortgage rates went up to 4.79% from 4.72%

Jumbo mortgage rates also went up this past week. 30-year Jumbo mortgage rates went from 4.96% to 5.02% and 15-year jumbo mortgage went up even more to 6.19% from 6.02%.



The annual percentage rate on a 5-year conforming adjustable rate mortgage is now at 4.17% down from 4.215% last past week. The annual percentage rate on1-year conforming adjustable mortgages stayed under 4%, the average 3.98 percent this week up from 3.92 percent last week.

Rates on a home equity line of credit is still under 5 percent, at 4.73%. The rate on a 10-year fixed rate home equity loan inched up to 7.69% and the rate on a 15-year fixed rate home equity loan is at  7.81%.

 


























































































































Description Rate APR
Home Equity Line of Credit 4.732%  
Home Equity Loan - 10 Years 7.690%  
Home Equity Loan - 15 Years 7.816%  
15 Year Fixed Conforming 4.658% 4.795%
15 Year fixed Jumbo 6.075% 6.197%
30 Year Fixed Conforming 4.942% 5.022%
30 Year Fixed Jumbo 6.148% 6.216%
1 Year ARM Conforming 4.910% 3.873%
1 Year ARM Jumbo 5.857% 3.987%
3/1 Year ARM Conforming 4.887% 4.119%
3/1 Year ARM Jumbo 5.550% 4.205%
5/1 Year ARM Conforming 4.603% 4.171%
5/1 Year ARM Jumbo 5.529% 4.428%
7/1 Year ARM Conforming 5.007% 4.400%
7/1 Year ARM Jumbo 6.382% 4.898%
10/1 Year ARM Conforming 5.298% 4.720%
10/1 Year ARM Jumbo 6.384% 5.257%
Interest Only: 3/1 Year ARM Conforming 5.036% 4.217%
Interest Only: 3/1 Year ARM Jumbo 5.653% 4.374%
Interest Only: 5/1 Year ARM Conforming 4.777% 4.286%
Interest Only: 5/1 Year ARM Jumbo 5.881% 4.596%
Interest Only: 7/1 Year ARM Conforming 5.254% 4.540%
Interest Only: 7/1 Year ARM Jumbo 6.652% 5.075%
 
Author: Brian McKay
May 6th, 2009