Current Mortgage Interest Rates: November 2, 2009

Current mortgage interest rates are down slightly this week following 10 year U.S. Treasury yields which fell below 3.50 percent. Both conforming mortgage rates and jumbo mortgage rates were lower this week over last. One year jumbo rate mortgages were down considerably.

These low interest rates are not expected to last. Mortgage interest rates will start heading higher as the economy recovers, which has already begun.

Looking for today's mortgage interest rates? The best mortgage rates can be found in your state by using our mortgage rate tables: Mortgage Rates Current

Loan Type

Purchase Refinance with Cash out Refinance

State

Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District Of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming

FICO Score

Superior (780-850) Exceptional (760-779) Excellent (740-759) Very Good (720-739) Good (700-719) Above Average (680-699) Average (660-679) Fair (640-659) Need Improvement (620-639) Poor (350-620)

Loan Amount

$

Points

Up to 0 points Up to 0.5 points Up to 1 points Up to 1.5 points Up to 2 points Up to 2.5 points Up to 3 points

LTV

%

Loan Term

 15-Year Fixed  20-Year Fixed  30-Year Fixed  5-Year ARM  7-Year ARM  10-Year ARM

Show Advertiser Disclosure

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.

Lender

APR / Rate

Fees / Points

Payment

NMLS #401822

5.661%

15-Year Fixed

5.375%

$7,500

Includes 0.875 points for $3,500

Lender Fees: $4,000

$3,242 /mo

Next >

NMLS #1025894

5.805%

15-Year Fixed

5.625%

$4,680

Includes 0.995 points for $3,980

Lender Fees: $700

$3,295 /mo

Next >

NMLS #6606

6.022%

15-Year Fixed

5.875%

$3,792

Includes 0.948 points for $3,792

Lender Fees: $0

$3,349 /mo

Next >

NMLS #1025894

6.839%

30-Year Fixed

6.750%

$3,664

Includes 0.741 points for $2,964

Lender Fees: $700

$2,595 /mo

Next >

NMLS #399799

6.854%

30-Year Fixed

6.750%

$4,436

Includes 0.777 points for $3,108

Lender Fees: $1,328

$2,595 /mo

Next >

NMLS #401822

6.884%

30-Year Fixed

6.750%

$5,495

Includes 0.875 points for $3,500

Lender Fees: $1,995

$2,595 /mo

Next >

NMLS #3030

6.889%

15-Year Fixed

6.750%

$3,500

Includes 0.875 points for $3,500

Lender Fees: $0

$3,540 /mo

Next >

NMLS #6606

6.963%

30-Year Fixed

6.875%

$3,580

Includes 0.895 points for $3,580

Lender Fees: $0

$2,628 /mo

Next >

NMLS #3030

7.602%

30-Year Fixed

7.500%

$4,000

Includes 1.000 points for $4,000

Lender Fees: $0

$2,797 /mo

Next >

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.

This past Friday The Bureau of Economic Analysis released third quarter GDP numbers which showed the economy expanded by 3.5 percent, higher than the consensus estimates of 3.1 percent according to Bloomberg. The worst recession since the 1930's probably has ended and will officially end when we have two consecutive quarters of growth.

Current Mortgage Interest Rates

Conforming Mortgage Rates

The average conforming 30 year mortgage rate declined to 5.05 percent this week, down from last week's average home loan rate of 5.08 percent. Conforming 15 year mortgage rates are averaging 4.49 percent this week, down from the prior week's average mortgage rate of 4.50 percent.

Jumbo Mortgage Rates

The average 30 year jumbo mortgage rate is at 5.77 percent this week, down from the previous week's average loan rate of 5.85 percent. 15 year jumbo mortgage rates were averaging 5.27 percent this week, down from last week's average interest rate of 5.30 percent.

Adjustable Mortgage Rates

Average conforming one year adjustable mortgage rates are at 4.29 percent this week, down from an average of 4.35 percent last week. One year jumbo mortgage interest rates are averaging 5.28 percent, down from 5.49 percent last week.

The average conventional 3/1 year adjustable mortgage rate is at 4.41 percent this week, up from last week's average of 4.38 percent. The average jumbo 3/1 ARM is at 5.47 percent this week, down from last week's average interest rate of 5.53 percent.

5/1 conforming ARMs are averaging 4.12 percent, down from last week's average home loan rate of 4.15 percent. Jumbo 5/1 ARMs are averaging 4.86 percent, down from last week when the average mortgage home loan rate was 4.94 percent.

Average conforming 7/1 ARMS are at 4.56 percent this week, up from the prior week's average interest mortgage rate of 4.53 percent. The average jumbo 7/1 ARM is unchanged at 5.66 percent.

The average conventinal 10/1 ARM is also unchanged this week at 4.95 percent. The average jumbo 10/1 ARM is down to 6.07 percent this week, down from last week's average loan interest rate of 6.12 percent.

Home Equity Loan

Home equity loan rates were virtually unchanged this week compared to last week. The average 10 year home equity loan is currently at 7.468 percent this week, up fractionally from last week's average equity home loan rate of 7.467 percent. 15 year home equity rates are averaging 7.598 percent this week, up fractionally from last week's home equity rate of 7.596 percent.

Home Equity Line of Credit

Home equity line of credit rates are averaging 4.878 percent this week, up from the previous week's average home equity line rate of 4.865 percent.