Mortgage Rates: Current Mortgage Rates July 20, 2009

Current mortgage rates are up this past week brought on by higher Treasury rates, 10-year U.S. Treasury rates rose from about 3.30 percent to 3.65 percent this week. Today's mortgage rates are  still low by historical standards.

The low mortgage rates are bringing home buyers back to the market and helping to put an end to the housing crises. Low mortgage loan rates are also spurring mortgage refinance activity. The Mortgage Bankers Association reported last week that their Refinance Index rose 17.7 percent from the previous week on a seasonally adjusted basis.

Another index released this past week further supports the beginning of the end of the housing crises. The National Association of Realtors released their Pending Home Sales Index which showed a slight increase in May 2009. The increase was only 0.1 percent but it was the fourth consecutive monthly increase which hasn't happened since October 2004.

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 #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 >

NMLS #2059741

5.606%

15-Year Fixed

5.490%

$3,032

Includes 0.758 points for $3,032

Lender Fees: $0

$3,267 /mo

Next >

NMLS #1025894

5.650%

15-Year Fixed

5.490%

$4,172

Includes 0.868 points for $3,472

Lender Fees: $700

$3,267 /mo

Next >

NMLS #1312186

5.652%

15-Year Fixed

5.500%

$3,968

Includes 0.992 points for $3,968

Lender Fees: $0

$3,269 /mo

Next >

NMLS #324599

License: 324599

5.673%

15-Year Fixed

5.500%

$4,570

Includes 0.875 points for $3,500

Lender Fees: $1,070

$3,269 /mo

Next >

NMLS #6606

5.773%

15-Year Fixed

5.625%

$3,848

Includes 0.962 points for $3,848

Lender Fees: $0

$3,295 /mo

Next >

NMLS #1835285

6.262%

5-Year ARM

6.125%

$5,860

Includes 0.965 points for $3,860

Lender Fees: $2,000

$2,431 /mo

Next >

NMLS #1835285

6.356%

30-Year Fixed

6.250%

$4,500

Includes 0.625 points for $2,500

Lender Fees: $2,000

$2,463 /mo

Next >

NMLS #324599

License: 324599

6.494%

30-Year Fixed

6.375%

$5,070

Includes 1.000 points for $4,000

Lender Fees: $1,070

$2,496 /mo

Next >

NMLS #2059741

6.569%

30-Year Fixed

6.490%

$3,292

Includes 0.823 points for $3,292

Lender Fees: $0

$2,526 /mo

Next >

NMLS #1312186

6.596%

30-Year Fixed

6.500%

$4,000

Includes 1.000 points for $4,000

Lender Fees: $0

$2,529 /mo

Next >

NMLS #1025894

6.600%

30-Year Fixed

6.490%

$4,592

Includes 0.973 points for $3,892

Lender Fees: $700

$2,526 /mo

Next >

NMLS #6606

6.714%

30-Year Fixed

6.625%

$3,684

Includes 0.921 points for $3,684

Lender Fees: $0

$2,562 /mo

Next >

NMLS #401822

6.734%

30-Year Fixed

6.625%

$4,495

Includes 0.625 points for $2,500

Lender Fees: $1,995

$2,562 /mo

Next >

NMLS #324599

License: 324599

6.743%

5-Year ARM

6.625%

$4,954

Includes 0.971 points for $3,884

Lender Fees: $1,070

$2,562 /mo

Next >

NMLS #1312186

6.968%

5-Year ARM

6.875%

$3,804

Includes 0.951 points for $3,804

Lender Fees: $0

$2,628 /mo

Next >

NMLS #401822

7.698%

15-Year Fixed

7.375%

$8,000

Includes 1.000 points for $4,000

Lender Fees: $4,000

$3,680 /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.

MonitorBankRates.com has free mortgage rate tables you can search for today’s mortgage rates in your zip code. Search for MortgageRates Here

Current Mortgage Rates

The average rate on a conforming fixed 30-year mortgage increase this week to 5.34 percent, up from the prior week's average mortgage rate of 5.20 percent. Not much higher than the recent low of 4.84 percent set on May 18, 2009. The average rate for a conforming fixed 15-year mortgage is at 4.80 percent, an increase from the previous week's average rate of 4.72 percent.

Jumbo Mortgage

The average rate on a fixed 30-year jumbo mortgage is up slightly to 6.21 percent this week from last week's average mortgage rate of 6.17 percent. Still down from the 6.65 percent recent high set on June 15, 2009. The average rate on a fixed 15-year jumbo mortgage loan is at 5.83 percent this week, up from the prior week's average rate of 5.71 percent.

Adjustable Mortgage Rate

Adjustable mortgage rates were mixed this week. The average rate for a one-year conforming ARM decreased to 4.51 percent from 4.55 percent the prior week. Jumbo one-year ARMs increased to 5.24 percent, up from the prior week's average rate of 5.20 percent.

Three-year conforming adjustable mortgage rates decreased to 4.64 percent this week, down from last week's average rate of 4.66 percent. The average mortgage loan rate for a jumbo three-year ARM is at 5.32 percent, up from the prior week's average home mortgage loan rate of 5.30 percent.

Five-year adjustable mortgage loans were mixed this week.  Conforming five-year ARMs are averaging 4.53 percent, down from last week's rate of 4.57 percent. The average jumbo five-year mortgage loan rate was up to 5.42 percent from the previous week's average rate of 5.34 percent.

The average rate on a seven-year adjustable home mortgage loan was up. Conforming seven-year ARMs are averaging 5.14 percent, up from 5.00 percent the prior week. Jumbo seven-year adjustable mortgage rates increased to 5.95 percent, up from last week's rate of 5.90 percent.

10-year adjustable rate mortgages were mixed. Conforming 10-year ARMs are at 5.47 percent this week, up from the prior week's average mortgage rate of 5.30 percent. Jumbo 10-year ARMs averaged 6.26 percent, down slightly from 6.28 percent.

Interest Only

Interest only mortgage rates were also mixed this week. Rates on three-year interest only ARMs decreased to 4.76 percent, down from last week's average rate of 4.78 percent. Jumbo three-year ARMs are averaging 5.40 percent, up from 5.35 percent.

Five-year interest only loans increased to 4.61 percent this week, up from the prior week's average rate of 4.60 percent. Jumbo five-year interest only ARMs increased to 5.72 percent, up from 5.57 percent the prior week.

Conforming seven-year interest only adjustable rate mortgages increased to 5.33 percent, up from the prior week's average rate of 5.15 percent. The average rate for jumbo IO ARMs is up to 6.08 percent, the prior week's average was 6.02 percent.

Home Equity Loan

Home equity loan rates were pretty much unchanged this week. The average rate for a 10-year home equity loan was down to 7.612 percent, the prior week's average 10-year home equity rate was 7.616 percent. While rates on a 15-year home equity decreased to 7.737 percent, down from the prior week's average rate of 7.742 percent.

Home Equity Line

Home equity line of credit rates increased to 4.805 percent this week, up from last week's average home equity line rate of 4.800 percent. Home equity line of credit rates haven't changed much recently so if you're in the market for a short term loan a home equity line is probably the way to go. Keep in mind the home equity line of credit rates are not fixed rate loans, they can increase as interest rates go up.

MonitorBankRates.com has free mortgage rate tables you can search for today’s mortgage rates. Search Mortgage Rates