Mortgage Rates Decline Again: 30 Year Mortgage Rates at 5.07%

Mortgage rates declined again this week over last, continuing the down trend of the past several weeks. Fixed conforming 30 year mortgage rates are currently averaging 5.07 percent this week, a decrease from the previous week’s average 30 year mortgage rate of 5.14. Low mortgage rates and The First Time Home-Buyer Tax Credit propelled new home sales up 27 percent in March according to the Commerce Department.

Conforming fixed 15 year mortgage rates are also lower this week. 15 year mortgage interest rates are averaging 4.41 percent, down from the prior week’s 15 year mortgage rate of 4.58 percent. 15 year mortgage rates have declined three consecutive weeks.

Looking for current mortgage rates and current refinance rates? Search our mortgage rate tables here: MortgageRates.MonitorBankRates.com

Current Mortgage Rates

Current Jumbo Mortgage Rates

30 year jumbo bank mortgage rates are averaging  5.54 percent this week, a decline from the previous week’s average jumbo loan rate of 5.65 percent. Current jumbo refinance rates are also averaging 5.54 percent this week.

15 year jumbo mortgage rates are averaging 5.03 percent this week, down from last week’s average jumbo rate of  5.13. 15 year jumbo refinance rates are also averaging 5.03 percent this week.

Current Adjustable Mortgage Rates

1 year conforming adjustable mortgage rates are averaging 4.67 percent this week, unchanged from last week’s average 1 year home loan rate of 4.67 percent. 1 year mortgage refinance rates are also averaging 4.67 percent this week.

The average 3 year conforming adjustable mortgage rate is at 4.59 percent this week, an increase from the prior week’s average home mortgage rate of 4.52 percent. 3 year refinance rates are also averaging 4.59 percent this week.

5 year conforming adjustable mortgage interest rates are averaging 3.82 percent this week, a decrease from last week’s average home loan rate of 3.91 percent. 5 year mortgage refinance are also averaging 3.82 percent this week.

7 year conforming ARMs are averaging 4.39 percent this week, a decrease from last week’s average 7 year loan interest rate of 4.42 percent. 7 year mortgage refinance rates are also averaging 4.39 percent.

Conforming 10 year adjustable mortgage rates are averaging 4.67 percent this week, a decrease from last week’s average mortgage interest rate of 4.79 percent. 10 year home loan refinance rates are also averaging 4.67 percent this week.

Jumbo Adjustable Mortgage Rates

1 year jumbo ARMs are averaging in at 5.59 percent this week, unchanged from last week’s average mortgage interest rate.

The average 3 year jumbo ARM is at 5.13 percent this week, down from the prior week’s average home loan rate of 5.34 percent. 3 year home refinance rates are also lower. Current 3 year jumbo refi rates are averaging 5.13 percent.

The average 5 year jumbo ARM is at 4.54 percent this week, a decrease from last week’s average mortgage rate of 4.59 percent. Today's 5 year refinance loan rates are averaging 4.54 percent.

7 year jumbo ARMs are averaging 5.47 percent this week, down from last week’s average loan mortgage rate of 5.54 percent. 7 year loan refinance rates are also averaging 5.47 percent this week.

10 year jumbo mortgage interest rates are averaging 5.98 percent this week, down from from last week’s average 10 year jumbo rate of 6.01 percent. 10 year jumbo refinance loan rates are also averaging 5.98 percent.

Interest Only Mortgage Rates

The average conforming 3 year interest only mortgage rate is at 4.68 percent this week, up from the previous week’s average mortgage interest rate of 4.61 percent.

The average 5 year interest only home loan is at 3.88 percent this week, down from last week’s average five year interest only mortgage rate of 3.97 percent.

7 year IO home loans are averaging 4.51 percent this week, down from last week’s average interest rate of 4.56 percent.

3 year jumbo IO loans are averaging 5.65 percent this week, down from last week’s jumbo interest mortgage rate of 5.90 percent.

The average 5 year jumbo IO loan rate is at 5.20 percent, down from the prior week’s average IO mortgage rate of 5.26 percent.

The average 7 year jumbo IO loan is at 6.03 percent, down from the prior week’s average jumbo 7 year rate of 6.09 percent.

Home Equity Loan Rates

10 year home equity loan rates are averaging 7.298 percent this week, down from last week’s average equity home loan rate of 7.440. 15 year home equity rates averaged 7.613 percent, down from last week’s average home equity rate of 7.620 percent.

Home Equity Line of Credit Rates (HELOC)

Average home equity line of credit rates are at 4.806 percent this week, up from the prior week’s average HELOC rate of 4.675 percent.