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Current Mortgage Rates Increase Slightly This Week – 30 Year Mortgage Rates at 3.71 Percent
 

Current Mortgage Rates Increase Slightly This Week – 30 Year Mortgage Rates at 3.71 Percent

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Fixed current mortgage rates are up today as bond yields increase 3 basis points to 1.63 percent as the markets await the Greek vote this weekend which will move rates in either direction depending on the outcome of the vote. A vote for the Greek party that wants to renege on the bailout deal will send bond yields tumbling next week which will send mortgage rates down to new all-time lows.

Current Mortgage Rates Increase Slightly This Week - 30 Year Mortgage Rates at 3.71 PercentMortgage rates today were mixed in Freddie Mac's Primary Mortgage Market Survey released this morning. Average fixed mortgage rates on both 30 year and 15 year home loans increased slightly this week over last week. Average adjustable mortgage rates on both 5 year and 1 year loans declined.

Current mortgage rates today on 30 year conforming home loans averaged 3.71 percent with average mortgage points on the loan being at 0.7 points for the week ending June 14, 2012. The average 30 year mortgage rate is up slightly from last week's average of 3.67 percent, which was a record low.

Today's mortgage rates on 15 year conforming home loans are still under 3.00 percent for the third week in a row. There are many lenders offering 15 year refinance rates as low as 3.63 percent which is fueling demand for refinances. 15 year mortgage rates today are averaging 2.98 percent with 0.7 mortgage points, up from the June 7 average of 2.94 percent which was also a record low rate.

Adjustable mortgage rates bucked the uptrend and were down for the week ending June 14, 2012. Current 5 year adjustable mortgage rates are at 2.80 percent with 0.6 points, a decline from last week's average 5 year adjustable mortgage interest rate of 2.84 percent.

1 year mortgage rates currently are averaging 2.78 percent with 0.5 mortgage loan points for the week that ended today. A decline from the June 7, 1 year adjustable mortgage rate average of 2.79 percent.

Author: Stacy Everest
June 14th, 2012