Mortgage Refinance Rates Jump Higher – 30 Year Refinance Rates at 5.25%

Mortgage refinance rates jumped higher this week over last, making this the second consecutive week of increases. The current average 30 year mortgage refinance rate is averaging 5.25 percent, up 23 basis points from last week's average of 5.02 percent. Two weeks ago at this time, 30 year refinance rates were averaging 4.95 percent.

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The average 15 year mortgage refinance rate is also higher this week. 15 year refinance rates are back above 4.50 percent at 4.52 percent. This is the first time in 3 months 15 year home refinance rates are above 4.50 percent.

Conforming rates have been expected to rise since the Fed stopped purchasing mortgage backed securities (MBS) late last month. Though jumbo mortgage rates weren't expected to rise as much, they rose nonetheless this week. 30 year jumbo refinance mortgage rates are averaging 5.70 percent this week, an increase from last week’s average loan refinance of 5.57 percent. 15 year jumbo refinance rates are above 5.00 percent for the second consecutive week, averaging 5.17 percent this week up from 5.02 percent last week.

Mortgage Refinance Rates

Adjustable Refinance Rates

1 year adjustable refinance rates are averaging 4.63% this week, unchanged from last week's average 1 year home loan refinance rate.

3 year adjustable mortgage refi rates are averaging 4.73% this week, up from last week’s mortgage loan refinance rate of 4.69%.

The average 5 year adjustable refinance  rate is at 4.06% this week, up from last week’s average mortgage refinance interest rate of 3.96%.

Jumbo Adjustable Refinance Rates

The average 1 year jumbo adjustable refinance rate is at 5.59%, unchanged from last week’s average refinance rate.

The average 3 year jumbo adjustable refinance rate are averaging 5.33%, up from the prior week’s average adjustable refinance loan interest rate of 5.20%.