Mortgage Rates: 30 Year Mortgage Rates Head Back Down Towards 5.00%

Mortgage rates started heading up last month but have since reversed course and are headed back down again. The up tick in mortgage rates last month was related to the run-up 10-year Treasury yields, which increased from 3.20 percent in late November to 3.80 percent in late December.

In addition to Treasury yields going higher, the FOMC met last month and in their Statement release said they are slowing the pace of mortgage-backed securities and anticipate completing their purchases at the end of the first quarter of 2010.

Looking for today’s mortgage interest rates? Use our mortgage rate tables to find current mortgage rates  in your state or zip code. Today’s Mortgage Interest Rates.

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 #1981224

4.924%

15-Year Fixed

4.625%

$8,000

Includes 1.000 points for $4,000

Lender Fees: $4,000

$3,086 /mo

Next >

NMLS #1283930

License: 01970483

5.445%

15-Year Fixed

5.250%

$5,125

Includes 1.000 points for $4,000

Lender Fees: $1,125

$3,216 /mo

Next >

NMLS #1838

5.455%

15-Year Fixed

5.250%

$5,395

Includes 0.974 points for $3,896

Lender Fees: $1,499

$3,216 /mo

Next >

NMLS #1025894

5.548%

15-Year Fixed

5.375%

$4,512

Includes 0.953 points for $3,812

Lender Fees: $700

$3,242 /mo

Next >

NMLS #1981224

5.921%

30-Year Fixed

5.750%

$7,500

Includes 0.875 points for $3,500

Lender Fees: $4,000

$2,335 /mo

Next >

NMLS #401822

6.039%

15-Year Fixed

5.750%

$7,500

Includes 0.875 points for $3,500

Lender Fees: $4,000

$3,322 /mo

Next >

NMLS #3030

6.146%

15-Year Fixed

5.990%

$4,000

Includes 1.000 points for $4,000

Lender Fees: $0

$3,374 /mo

Next >

NMLS #1838

6.231%

30-Year Fixed

6.125%

$4,535

Includes 0.759 points for $3,036

Lender Fees: $1,499

$2,431 /mo

Next >

NMLS #401822

6.289%

30-Year Fixed

6.125%

$7,000

Includes 0.750 points for $3,000

Lender Fees: $4,000

$2,431 /mo

Next >

NMLS #1283930

License: 01970483

6.347%

30-Year Fixed

6.250%

$4,125

Includes 0.750 points for $3,000

Lender Fees: $1,125

$2,463 /mo

Next >

NMLS #1025894

6.477%

30-Year Fixed

6.375%

$4,284

Includes 0.896 points for $3,584

Lender Fees: $700

$2,496 /mo

Next >

NMLS #1981224

6.533%

5-Year ARM

6.375%

$6,740

Includes 0.915 points for $3,660

Lender Fees: $3,080

$2,496 /mo

Next >

NMLS #3030

6.949%

30-Year Fixed

6.875%

$3,000

Includes 0.750 points for $3,000

Lender Fees: $0

$2,628 /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.

The Fed has been supporting the mortgage market since the financial crisis by providing liquidity to drive down mortgage rates. They were successful in driving fixed 30 year mortgage rates under 5.00 percent but now their support of the mortgage market is ending most analysts' belief that 30 year mortgage rates will head up towards 6.00 percent or even higher once the purchases stop.

The downturn in mortgage rates the past three weeks can be attributed to the belief that the economy won't recover as strongly as anticipated. As a result, unemployment will remain high and will take longer to decline, making inflation less of a concern at this point. Lower inflation will mean a more gradual increase in interest rates and mortgage rates.

Current Mortgage Rates

Fixed conforming 30 year mortgage rates at 5.04 percent this week, down from the prior week’s average home loan rate of 5.06 percent.

Conforming 15 year mortgage rates are at 4.40 percent this week, down from last week’s average home loan interest rate of  4.44 percent.

Jumbo Mortgage Rates

30-year jumbo mortgage rates are averaging 5.86% this week, up from the prior week’s average home loans rate of 5.72%.

15 year jumbo mortgage loans are averaging 5.24% this week, up from the prior week’s average home mortgage loan rate of 5.16%.

Adjustable Mortgage Rates

Conforming 1 year adjustable mortgage home loan rates are averaging 4.32% this week, down from the prior week when one year home loans were averaging 4.50%.

Conforming 3 year adjustable mortgage interest rates are averaging 4.52%, down from last week’s average loan rate of 4.53%.

Conforming 5 year adjustable mortgage rates are averaging 4.20% this week, up from the previous week’s average mortgage interest rate of 4.12%.

Conforming 7 year adjustable home loan rates are averaging 4.61%, up from last week’s average home loan rate of 4.56%.

Conforming 10-year mortgage rates are at 5.11%, a decrease from the previous week’s average interest mortgage rate of 5.18%.

Jumbo Adjustable Mortgage Rates

Jumbo 1 year jumbo adjustable mortgage rates are averaging 5.31% this week, down from the prior week’s average home mortgage loan rate.5.48%.

Jumbo 3-year jumbo ARMs are averaging 5.32% this week, up from last week’s average adjustable interest loan rate of 5.27%.

The average 5 year jumbo ARM is at 4.99% this week, up from the prior week’s average interest mortgage rate 0f 4.89%.

7 year jumbo ARMs are averaging 5.37% this week, down from last week’s average loan mortgage rate of 5.43%.

The average 10 year jumbo is at 5.88%, down from the prior week’s average 10 year mortgage loan rate of 5.95%.

Conforming Interest Only Mortgage Rates

3 year interest only mortgage rates are averaging 4.65% this week, unchanged from last week’s average interest rate.

5 year interest only loans are averaging 4.31% this week, up from last week’s average five year interest only mortgage rate of 4.21%.

7 year IO home loan rates are averaging 4.81% this week, up from last week’s average interest rate of 4.76%.

Jumbo Interest Only Mortgage Rates

3 year jumbo interest only mortgages are averaging 5.52% this week, up from last week’s jumbo interest mortgage rate of 5.42%.

5 year jumbo IO loan rates are averaging 5.39%, up from the prior week’s average IO mortgage rate of 5.24%.

The average jumbo 7 year IO loan mortgage rate is at 5.76%, up from last week’s average jumbo rate of 5.73%.

Home Equity Loans

The average home equity loan rate was up considerably this week over last. 10 year home equity loan rates decreased to 7.418% this week, down from last week’s average equity home loan rate of 7.424%. 15 year home equity rates decreased to 7.517%, down slightly from the prior week’s average equity loan rate of 7.520%.

Home Equity Line of Credit (HELOC)

Average home equity line of credit rates were down slightly this week over last. The average HELOC rate is at 4.906% this week, up slightly from last week’s average HELOC rate of 4.904%.

Looking for current mortgage rates? The best mortgage rates including jumbo rates can be found in your state or zip code by using our bank mortgage rate tables. Today's Mortgage Rates