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Current Mortgage Rates September 6, 2011

Current Mortgage Rates September 6, 2011

Mortgage rates are down yet again today thanks to the lowest 10 year bond yields in 60 years. Current mortgage rates on fixed conforming 30 year mortgage loans are averaging 4.24%, down from Friday's average 30 year mortgage rate of 4.29%. 10 year bond yields broke 2.00% today and are down to 1.95%. Mortgage rates will head down even further this week, we will probably see 30 year conforming mortgage rates head towards the 4.00% level by Friday. In fact, Amerisave mortgage rates on 30 year loans are already under 4.00%.

You can find a list of mortgage rates today from several different lenders by searching our mortgage rates list here: Mortgage Rates Today.

15 year mortgage rates current are averaging 3.38%, down from Friday's average 15 year mortgage rate of 3.45%.  As with 30 year rates going this week we will also see 15 year conforming mortgage rates hit new lows this week. I see 15 year mortgage rates hitting 3.20% by the end of the week.

Mortgage rates today on jumbo mortgages are also lower. Current 30 year home loans are averaging 4.51%, down from an average 30 year jumbo mortgage rate of 4.65%.

Today's mortgage rates on 15 year jumbo mortgages  are averaging 3.81%, a decrease from Friday's average 15 year jumbo mortgage rate of 3.95%. We will see 15 year jumbo mortgage rates probably go down to 3.60% later this week.

Short term adjustable mortgage rates are also lower but the moves down haven't been as large as the move in fixed rates. Current adjustable mortgage rates on 5 year adjustable mortgages are averaging 3.05%, a decrease from an average 5 year adjustable mortgage rate of 3.06%.

Today's adjustable jumbo mortgage rates on 5 year jumbo adjustable mortgages are averaging 3.20%, a decrease from an average 5 year jumbo mortgage rate of 3.22%.

Author: Monica Harris
September 6th, 2011