Mortgage Rates Continue to Decline: 30 Year Mortgage Rates at 4.75%

Mortgage rates continued to decline this week. Mortgage rates have been driven lower because of  the weak employment report last week and the sovereign government debt crisis in Europe. Investors have flocked to the safety of bonds and as a result have driven bond yield lower. Mortgage rates are tied to bond yields and have also gone lower. 30 year mortgage rates hit a low of 4.75 percent this morning, down from a rate of 4.85 percent earlier this week.

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Current 15 year mortgage rates are also down this morning, current 15 year mortgage mortgage are averaging 4.25 percent, down from an average 15 year mortgage rate of 4.27 percent earlier this week.

Today's Jumbo Mortgage Rates

Current 30 year jumbo mortgage rates are averaging 5.43 percent, down slightly from an average 30 year jumbo mortgage rate of 5.44 percent.

15 year jumbo mortgage rates are still under 5.00 percent at 4.89 percent, down slightly from an average 30 year jumbo mortgage rate of 4.90 percent.

Adjustable Mortgage Rates, Current

Current 1 year conforming adjustable mortgage rates are averaging 3.71 percent, down from an average 1 year adjustable rate of 3.73 percent.

Today's 3 year conforming adjustable mortgage rates are averaging 4.32 percent, down from an average 3 year adjustable rate of 4.38 percent.

Currently, 5 year refinance adjustable rates are averaging 3.75 percent, up from an average home mortgage rate of 3.74 percent.

Today's 7 year adjustable mortgage interest rates are averaging 4.15, up slightly from an average 7 year adjustable mortgage rate of 4.33 percent.

10 year adjustable mortgage rates are averaging 4.45 percent, down from an average mortgage loan rate of 4.48 percent.

Jumbo Adjustable Mortgage Rates, Current

Current 1 year jumbo adjustable mortgage rates are averaging 5.95 percent, unchanged from last week’s average 1 year jumbo adjustable mortgage rate.

Current 3 year jumbo adjustable mortgage rate are under 5.00 percent at 4.94 percent, down from an average mortgage rate of 5.02 percent.

Current 5 year jumbo mortgage rates currently are averaging 4.24 percent, up from an average 5 year mortgage rate of 4.20 percent.

Currently, 7 year jumbo adjustable mortgage rates are averaging 4.98 percent, down from an average mortgage rate of 5.02 percent.

10 year jumbo rates are averaging 5.58 percent, up from an average 10 year jumbo mortgage interest rate of 5.57 percent.