Mortgage Rates

Mortgage rates are mixed the past week. 30-year mortgage rates and 15-year mortgage have remained steady, while adjustable rate mortgages have come down the past week.

30-year Jumbo mortgages and 15-year jumbo mortgage have also come down, but the rate difference between fixed rate jumbo mortgages and fixed rate conforming mortgages are still higher than the historical norm. If you are in the market for a jumbo mortgage a better option right now would be an adjustable rate mortgage.

The annual percentage rate on a 5-year adjustable rate mortgage was 4.215 percent this past week, while 30-year fixed jumbo mortgage rates were almost two percentage points higher at 6.16 percent.

Loan Term
Show Advertiser Disclosure
Lender
APR / Rate
Fees / Points
Payment
District Lending
NMLS #1835285
5.440%
15-Year Fixed
5.250%
$5,000
Includes 0.750 points for $3,000
Lender Fees: $2,000
$3,216 /mo
Next >
PenFed Credit Union
NMLS #401822
5.535%
15-Year Fixed
5.250%
$7,500
Includes 0.875 points for $3,500
Lender Fees: $4,000
$3,216 /mo
Next >
Mutual of Omaha Mortgage, Inc.
NMLS #1025894
5.762%
15-Year Fixed
5.625%
$3,544
Includes 0.711 points for $2,844
Lender Fees: $700
$3,295 /mo
Next >
District Lending
NMLS #1835285
6.128%
30-Year Fixed
6.000%
$5,500
Includes 0.875 points for $3,500
Lender Fees: $2,000
$2,399 /mo
Next >
Rocket Mortgage
NMLS #3030
6.407%
15-Year Fixed
6.250%
$4,000
Includes 1.000 points for $4,000
Lender Fees: $0
$3,430 /mo
Next >
Mutual of Omaha Mortgage, Inc.
NMLS #1025894
6.590%
30-Year Fixed
6.490%
$4,168
Includes 0.867 points for $3,468
Lender Fees: $700
$2,526 /mo
Next >
PenFed Credit Union
NMLS #401822
6.758%
30-Year Fixed
6.625%
$5,495
Includes 0.875 points for $3,500
Lender Fees: $1,995
$2,562 /mo
Next >
District Lending
NMLS #1835285
6.764%
5-Year ARM
6.625%
$5,780
Includes 0.945 points for $3,780
Lender Fees: $2,000
$2,562 /mo
Next >
Rocket Mortgage
NMLS #3030
7.187%
30-Year Fixed
7.125%
$2,500
Includes 0.625 points for $2,500
Lender Fees: $0
$2,695 /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.

Rates on a home equity line of credit is still under 5 percent, at 4.685 percent, a lot better rate than a 10-year fixed rate home equity loan which currently has a rate of 7.678 percent and a 15-year fixed rate home equity loan currently has a rate of 7.804 percent.

Here is a list of national average mortgage rates.

Description Rate APR
Home Equity Line of Credit 4.685%  
Home Equity Loan - 10 Years 7.678%  
Home Equity Loan - 15 Years 7.804%  
15 Year Fixed Conforming 4.586% 4.722%
15 Year fixed Jumbo 5.914% 6.029%
30 Year Fixed Conforming 4.888% 4.968%
30 Year Fixed Jumbo 6.092% 6.160%
1 Year ARM Conforming 4.905% 3.925%
1 Year ARM Jumbo 5.705% 4.032%
3/1 Year ARM Conforming 5.063% 4.208%
3/1 Year ARM Jumbo 5.492% 4.254%
5/1 Year ARM Conforming 4.574% 4.215%
5/1 Year ARM Jumbo 5.394% 4.447%
7/1 Year ARM Conforming 5.029% 4.455%
7/1 Year ARM Jumbo 6.170% 4.870%
10/1 Year ARM Conforming 5.179% 4.698%
10/1 Year ARM Jumbo 6.250% 5.231%
Interest Only: 3/1 Year ARM Conforming 5.230% 4.316%
Interest Only: 3/1 Year ARM Jumbo 5.579% 4.420%
Interest Only: 5/1 Year ARM Conforming 4.722% 4.330%
Interest Only: 5/1 Year ARM Jumbo 5.733% 4.614%
Interest Only: 7/1 Year ARM Conforming 5.297% 4.606%
Interest Only: 7/1 Year ARM Jumbo 6.412% 5.041%

 
Author: Brian McKay
May 2nd, 2009

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