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Higher Mortgage Rates Today - 30 Year Rates at 4.30 Percent
 

Higher Mortgage Rates Today – 30 Year Rates at 4.30 Percent

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Mortgage rates moved higher today, following 10 year bond yields higher. Average conforming 30 year mortgage rates are at 4.30 percent, up from the previous week's average rate of 4.23 percent. Both conforming and jumbo rates moved higher over the weekend but they should fall again over the next couple of days.

30 year conforming rates are averaging 4.30 percent but the lowest available rates are lower than the average. The best 30 year refinance rates in the state of New Jersey are currently at 3.75 percent with 1.75 mortgage points. The best 30 year refi rate without points is still below the average at 3.99 percent.

Today's mortgage rates on 15 year conforming loans are averaging 3.30 percent, an increase from the prior week's average rate of 3.25 percent. The best 15 year refinance rates on the tables right now are below 3.00 percent in all states. For California, the best 15 year rate is at 2.75 percent with 1 mortgage point. The best rate without points is still below 3.00 percent at 2.99 percent.

Average 30 year jumbo mortgage rates are at 4.60 percent, up from last week's average 30 year jumbo mortgage rate of 4.54 percent. The lowest jumbo refinance rates available are much lower at 3.875 percent with 1 mortgage point. The best 30 year jumbo rate without points is currently at 4.125 percent.

15 year jumbo mortgage rates are currently averaging 3.76 percent, up from an average rate of 3.69 percent. The best 15 year jumbo rates available are much lower at 3.375 percent with 0.75 mortgage points. The lowest 15 year rate without points is still below the average at 3.625 percent.

Conventional 5 year adjustable mortgage rate are averaging 3.34 percent, up from last week's average 5 year adjustable rate of 3.29 percent. The lowest 5 year adjustable refinance rates available are well below the average at 2.375 percent with 1 mortgage point. The lowest 5 year adjustable refi rate without points is at 2.625 percent.

Current mortgage rates on 5 year jumbo adjustable rates are averaging 3.58 percent, up from an average rate of 3.51 percent. The best 5 year jumbo refi rates available are at 2.50 percent with 2 points and at 2.875 percent with no points.
Author: Brian McKay
July 28th, 2014