30 Year Mortgage Rates at 4.83% – MBA
30 year mortgage rates are down to 4.83 percent in the latest Mortgage Application Survey released by the Mortgage Bankers Association. This is a decline from last week's average 30 year contract interest rate of 4.90 percent.
This is the lowest average contract mortgage rate since May of 2009. Average mortgage discount points increased to 1.17 points from 1.03 points.
The average contract rate for 15 year mortgages also declined this week over last. The current average 15 year mortgage rate is at 4.32 percent, down slightly from the prior week's average rate of 4.33 percent. Average mortgage points decreased to 1.01 points from 1.15 points a week earlier.
The lenders whose rates and other terms appear on this chart are ICB's advertising partners. They provide their rate information to our data partner RateUpdate.com. Unless adjusted by the consumer, advertisers are sorted by APR from lowest to highest. For any advertising partners that do not provide their rate they are listed in advertisement display units at the bottom of the chart. Advertising partners may not pay to improve the frequency priority or prominence of their display. The interest rates, annual percentage rates and other terms advertised here are estimates provided by those advertising partners based on the information you entered above and do not bind. Any lender Monthly payment amounts stated do not include amounts for taxes and insurance premiums. The actual payment obligation will be greater if taxes and insurance are included. Although our data partner RateUpdate.com collects the information from the financial institutions themselves, the accuracy of the data cannot be guaranteed. Rates may change without notice and can change intraday. Some of the information contained in the rate tables including but not limited to special marketing notes is provided directly by the lenders. Please verify the rates and offers before applying for a loan with the financial institution themselves. No rate is binding until locked by a lender.
5.634%
15-Year Fixed
5.500%
$3,478
Includes 0.607 points for $2,428
Lender Fees: $1,050
NMLS #1935422
License: 60DBO-109262
5.748%
15-Year Fixed
5.625%
$3,295
Includes 0.500 points for $2,000
Lender Fees: $1,295
5.771%
15-Year Fixed
5.625%
$3,796
Includes 0.774 points for $3,096
Lender Fees: $700
6.011%
15-Year Fixed
5.875%
$3,508
Includes 0.877 points for $3,508
Lender Fees: $0
6.455%
30-Year Fixed
6.375%
$3,350
Includes 0.575 points for $2,300
Lender Fees: $1,050
NMLS #1935422
License: 60DBO-109262
6.487%
30-Year Fixed
6.375%
$4,795
Includes 0.875 points for $3,500
Lender Fees: $1,295
6.588%
30-Year Fixed
6.490%
$4,108
Includes 0.852 points for $3,408
Lender Fees: $700
6.834%
30-Year Fixed
6.740%
$3,848
Includes 0.962 points for $3,848
Lender Fees: $0
7.035%
15-Year Fixed
6.875%
$4,000
Includes 1.000 points for $4,000
Lender Fees: $0
7.602%
30-Year Fixed
7.500%
$4,000
Includes 1.000 points for $4,000
Lender Fees: $0
Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Rate and product details.
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The average contract mortgage rate for one year adjustable mortgages declined to 6.82 percent from 6.85 percent a week ago. The average discount points on one year adjustable mortgage rates declined to 0.28 points from 0.29 points.
In addition to the decline in mortgage interest rates this past week, mortgage applications also declined week over week. The MBA's Market Composite Index, which measures home mortgage loan application volume decreased 2.5 percent on a seasonally adjusted basis from one week earlier.
The MBA's Refinance Index, a measure of refinance application volume, decreased 1.4 percent from the previous week. It looks like the demand for mortgage loans for home purchases is slowing down, the Purchase Index decreased 4.7 percent from one week earlier. The Purchase Index has gone down for six consecutive weeks and is at its lowest level since November 1997.
MonitorBankRates.com released a report on mortgage rates earlier this week.
Current Mortgage Rates
Conforming Fixed Rate Mortgages
- 30 year mortgage rates declined to 4.95 percent this week, down from the prior week’s average home loan rate of 5.02 percent.
- 15 year mortgage interest rates are down to 4.39 percent this week, down from last week’s average mortgage rate of 4.45 percent.
Jumbo Rate Mortgages
- The average 30 year jumbo mortgage rate is at 5.70 percent this week, down from the previous week’s mortgage rate of 5.78 percent.
- The average 15 year jumbo rate mortgage is at 5.23 percent this week, down from the prior week’s interest rate of 5.29 percent.
Adjustable Mortgage Rates - Conforming
- One year adjustable mortgage rates are averaging at 4.44 percent this week, up from last week’s when one year home loans averaged 4.37 percent.
- Three year adjustable mortgage interest rates are averaging 4.31 percent, down from last week’s average loan interest rate of 4.36 percent.
- Five year mortgage rates remain unchanged this week at 4.12 percent.
- Seven year adjustable home loans are up this week to 4.54 percent, up from last week’s average loan rate of 4.50 percent.
- Current rates for ten year ARMs are averaging 4.97 percent, up from the previous week’s average home finance rate of 4.88 percent.
Adjustable Mortgage Rates - Jumbo
- Today’s one year jumbo adjustable rate mortgages are averaging 5.25 percent this week, down from the prior week’s average mortgage finance rate of 5.35 percent.
- Three year jumbo ARMs are at 5.42 percent this week, down from last week’s adjustable rate of 5.47 percent.
- The average five year jumbo ARM is at 4.92 percent this week, up from the prior week’s average rate on a five year jumbo mortgage 0f 4.90 percent.
- Seven year jumbo ARMs are averaging 5.56 percent., up from the previous week’s average adjustable rate of 5.71 percent.
- 10 year jumbo ARMs are averaging 5.93 percent, down from last week’s average mortgage rate of 6.07 percent.
Interest Only Mortgage Rates - Conventional
- Average three year interest only mortgage rates are averaging 4.39 percent this week, unchanged from last week’s interest rate.
- Five year interest only loans are averaging 4.22 percent, up from last week when five year interest only mortgages averaged 4.10 percent.
- Seven year IO mortgages are averaging 4.70 percent this week, up from last week’s average of 4.66 percent.
Interest Only Mortgage Rates - Jumbo
- Three year jumbo interest only mortgages are averaging 5.66 percent this week, down from last week’s jumbo mortgage average rate of 5.74 percent.
- Five year jumbo IO home loans are averaging 5.34 percent, down from last week’s average IO mortgage rate of 5.38 percent.
- The average jumbo seven year IO mortgage is at 5.98 percent, down from last week’s average jumbo rate of 6.24 percent.
Home Equity loan
- The average home equity loan rate was up slightly this week over last week. 10 year home equity loan rates increased to 7.498 percent this week, up from last week’s average equity home loan rate of 7.480%. 15 year home equity rates increased to 7.630%, up from the prior week’s average equity loan rate of 7.611%.
Home Equity Line of Credit (HELOC)
- Average home equity line of credit rates were are up slightly this week. The average HELOC rate this week is 4.901%, up from last week’s average HELOC rate of 4.893.
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