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Refinance Rates Stabilize: 30 Year Refinance Rates at 5.12%

Refinance rates have stabilized the past several days after increasing when the Federal Reserve stopped purchasing mortgage-backed securities at the end of March. Fixed conforming 30 year refinance rates increased 30 basis points since the end of March but have since declined back to a level of 5.12 percent.

The average fixed 15 year mortgage refinance rate has also declined. Today's 15 year refinance rate is at 4.45 percent. 15 year refi rates are back under 4.50 percent for the first time in two weeks.

30 year jumbo refinance rates are lower this week over last. Current jumbo refinance rates are averaging 5.56 percent, down from last week’s average jumbo mortgage refinance rate of 5.65 percent. 15 year jumbo home loan mortgage refinance rates are averaging 5.07 percent, down from last week’s average jumbo refi rate of 5.12 percent.

Refinance Rates

Conforming Adjustable Refinance Rates

1 year adjustable mortgage refinance loan rates are averaging 4.67% this week, unchanged from last week’s average 1 year refinance loan rate of 4.67%.

3 year adjustable refi rates are averaging 4.51% this week, down from last week’s average home refinance rate of 4.66%.

5 year adjustable refinance interest rates are averaging 4.11% this week, up from last week’s average mortgage refinance interest rate of 3.91%.

The average 7 year conforming mortgage refinance rate is at 4.48%, unchanged from last week’s average mortgage refinance rate of 4.48%.

The average 10 year refinance mortgage rates is at 4.80% this week, down from last week’s refinance rate of 4.84%.

Jumbo Refinance Rates

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

3 year jumbo adjustable refi rates are averaging 5.32%, up from last week’s average adjustable refinance loan interest rate of 5.23%.

The average 5 year jumbo refinance interest rate is at 4.56% this week, down  from last week’s average bank refinance rate of 4.58%.

7 year jumbo refinance home loan rates are averaging 5.57% this week, an increase from last week’s average refinance home loan rate of 5.51%.

10 year home refi rates are averaging 6.10% this week, up from the prior week’s average 10 year home refinance rate of 5.94%.
Author: Brian McKay
April 16th, 2010