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Current Mortgage Rates Move Slight Higher Today: 15 Year Rates at 3.09% - CD Rates - Search for CD Rates Today
 

Current Mortgage Rates Move Slight Higher Today: 15 Year Rates at 3.09%

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The Federal Open Market Committee wrapped up their two day meeting and decided to keep the Fed Fund's rate in a targeted range of zero percent. This wasn't a surprise but bond yields rose when the FOMC also announced they don't have immediate plans to start another round of quantitative easing to drive current mortgage rates even lower.

As a result average mortgage rates today increased slightly. Today's mortgage rates on 30 year conforming loans are averaging 3.75 percent with 0.51 points in the Mortgage Bankers Association's Weekly Mortgage Survey. Average 30 year conforming mortgage rates are up from the previous week's average of 3.74 percent with 0.43 points.

Conventional 15 year mortgage rates are currently higher as well. Average 15 year mortgage rates are at 3.09 percent with 0.49 mortgage points. 15 year refinance mortgage rates are up from last week's average of 3.07 percent with 0.45 mortgage points.

Today's mortgage rates on 30 year jumbo mortgage loans increased to 4.01 percent with 0.32 mortgage points. Average 30 year jumbo mortgage rates are up from the prior week's average of 3.99 percent with 0.28 mortgage points.

FHA mortgage rates today remained unchanged, still at a record low set last week. Current mortgage interest rates on 30 year FHA home loans averaged 3.52 percent with 0.55 mortgage points. Average points on FHA loans increased from last week's average of 0.52 points.

5 year adjustable mortgage refinance rates also increased in the mortgage survey. Today's 5 year conforming adjustable mortgage rates are averaging 2.73 percent with 0.41 mortgage points, an increase from last week's average 5 year mortgage rate of 2.68 percent with 0.35 mortgage points.

Author: Stacy Everest
August 2nd, 2012