Current Mortgage Rates Low This Week

mortgage-rates-current-mortgage-rates-low-this-weekCurrent mortgage rates stayed low this week in the most recent survey released today even though the future economic outlook is a lot brighter and 10-year U.S. Treasury rates have risen to 3.75 percent.

Mortgage interest rates will rise when the economy recovers and the Fed starts raising interest rates.

Mortgage Rates

Today's mortgage rates are not much higher than home mortgage rates last month. The average mortgage rate on a conforming 30-year mortgage is at 5.22 percent with an average point of 0.6 for the weekending today.  Down from the prior week's average conforming 30-year mortgage rate of 5.25 percent according to the latest Primary Mortgage Market Survey released by Freddie Mac.

The average rate on a conforming 15-year mortgage was also down the weekending August 6, 2009. Conforming 15-year mortgage rates are at 4.63 percent with an average 0.6 point, down from the previous week's average 15-year mortgage rate of 4.69 percent.

Adjustable Mortgage Rates

Adjustable rate mortgages were down this week, the average rate on a one-year adjustable mortgage is at 4.78 percent with an average 0.5 point, down from last week's average one-year home mortgage rate of 4.80 percent.

Five-year adjustable mortgage loan rates are down to 4.73 percent with average points of 0.6 for the weekending August 6, 2009. Down from the prior week's average home mortgage rate of 4.75 percent.

Jumbo Mortgage Rates

Freddie Mac’s weekly survey doesn't include jumbo mortgage rates because Freddie only reports on conforming mortgages.

MonitorBankRates.com has free jumbo mortgage rate tables and conforming mortgage rate tables in your zip code.

Current Mortgage Rates

 
Author: Brian McKay
August 6th, 2009

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