Mortgage Refinance Rates: 30 Year Refinance Rates now at 4.88%

mortgage-refinance-rates-30-year-refinance-rates-now-at-488Mortgage refinance rates were over 5.00 percent last week at 5.07 percent. 30 year refinance rates are now under 5.00 percent at 4.88 percent, continuing the downtrend since the beginning of the week. 15 year mortgage refinance rates are also down this week. The average rate on a 15 year refinance loan is averaging 4.30%, down from last week’s average refinance rate of 4.39%.

30 year jumbo rates for refinancing are also down this week with the average rate down to 5.57 percent, a decrease from the prior week's average rate of 5.76 percent.  If you haven't taken advantage of these low rates and refinanced your home loan, now is the time before rates start heading up.

The average 15 year jumbo refinance rates broke through the 5.00 percent mark. 15 year jumbo mortgage refi rates are averaging 4.98%, down from last week's average rate of 5.13 percent.

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Mortgage Refinance Rates

Adjustable Refinance Mortgage Rates – Conforming Loans

1 year adjustable refinance loan rates are averaging 4.40% this week, down from last week when 1 year loan refinance rates averaged 4.67%.

3 year adjustable refi rates are averaging 4.44% this week, a decrease from the prior week’s mortgage loan refinance rate of 4.63%.

The average 5 year adjustable refinance interest rate is at 3.88% this week, down from last week’s average mortgage refinance interest rate of 4.01%.

The average 7 year conforming mortgage refinance rate is at 4.38%, a decrease from last week’s average mortgage refinance rate of 4.50%.

The average 10 year refinance mortgage rates is at 4.77% this week, down from last week’s refinance rate of 4.80%.

Jumbo Refinance Mortgage Rates

The average 1 year jumbo adjustable refinance rate is at 5.59%, unchanged from last week’s average refinance rate.

3 year jumbo adjustable refi rates are averaging 5.18%, down from last week’s average adjustable refinance loan interest rate of 5.36%.

The average 5 year jumbo refinance interest rate is at 4.58% this week, down from last week’s average refinance bank rate of 4.70%.

7 year jumbo refinance home loan rates are averaging 5.46% this week, a decrease from last week’s average refinance home loan rate of 5.75%.

10 year home refi rates are averaging 5.81% this week, down from the prior week’s average 10 year home refinance rate of 5.96%.

Author: Brian McKay
March 12th, 2010

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