Mortgage Rates: Refinance Mortgage Rates Lower, 30 year Mortgage Refinance Rates at 4.85%

Mortgage refinance rates headed lower this week over last. The ongoing concerns in Europe drove investors to buy dollars and U.S. Treasuries. When Treasury prices move higher Treasury yields move lower. Mortgage rates are tied to U.S. Treasuries so when yields head down, mortgage rates also head down. 10 year Treasury yields closed yesterday at 3.16 percent, the lowest point since October 2009. 30 year mortgage rates hit a low of 4.78 percent yesterday but have since rebounded to 4.85 percent this morning.

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Current 30 year mortgage refinance rates are down to 4.85 percent this week, down from an average 30 year refinance mortgage rate of 4.95 percent the prior week. Right now Wells Fargo Bank is offering 30 year mortgage rates at 4.75 percent. Current 15 year mortgage refinance rates are down slightly to 4.26 percent this week, down from the previous week's average mortgage rate of 4.27 percent. Amerisave is currently advertising 15 year mortgage rates at 4.00 percent.

Jumbo Mortgage Refinance Rates

30 year jumbo mortgage refinance rates are averaging 5.44 percent this week, down slightly from last week's average 30 year jumbo mortgage refinance rate of 5.45 percent.

15 year jumbo mortgage refinance rates are back under 5.00 percent at 4.90 percent, down from the prior week's average 30 year jumbo mortgage refinance rate of 5.01 percent.

Adjustable Mortgage Refinance Rates

Current 1 year conforming adjustable refinance mortgage rates are averaging 3.73 percent, down from last week's average 1 year adjustable refinance rate of 3.78 percent.

Today’s 3 year conforming adjustable mortgage refinance rates are averaging 4.38 percent, down from last week's average 3 year adjustable refinance rate of 4.52 percent.

5 year refinance adjustable mortgage rates are averaging 3.74 percent, down from an average home mortgage refinance rate of 4.07 percent.

Current 7 year adjustable refinance mortgage interest rates are averaging 4.14, down from an average 7 year adjustable refinance rate of 4.33 percent last week.

Current 10 year adjustable mortgage refinance rates are averaging 4.48 percent, a decrease from last week's average mortgage refinance loan rate of 4.55 percent.

Jumbo Adjustable Mortgage Refinance Rates

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

3 year jumbo adjustable mortgage refinance rate loans are averaging 5.02 percent, an increase from last week's average jumbo home refinance rate of 4.87 percent.

5 year jumbo refinance mortgage rates currently are averaging 4.20 percent, down from an average 5 year refinance mortgage rate of 4.46 percent.

Currently, 7 year jumbo refinance adjustable mortgage rates are averaging 5.06 percent, down from an average loan refinance mortgage rate of 5.31 percent.

10 year jumbo refinance rates are averaging 5.57 percent, down from an average 10 year jumbo refinance mortgage interest rate of 5.63 percent.