Mortgage Rates Head Lower on Poor Job Numbers and Fears in Europe: 30 Year Mortgage Rates at 4.85%

Mortgage rates continue to head lower following Treasury yields lower on poor job numbers and concerns of the financial crisis in Europe. 30 year mortgage rate dropped from 4.96 percent to 4.85 percent over the weekend. U.S. Treasury yields were down 21 basis points on Friday on a report showing only 432,000 jobs were created in May, which was less than the 513,000 jobs analysts had expected. Fears of Hungary defaulting on its debt also sent Treasury yields down.  The ongoing concerns in Europe will drive Treasury yields and mortgage rates lower this week.

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Current 15 year mortgage rates are unchanged at 4.27 percent this week over last. 15 year mortgage rates will also head lower this week if Treasury yields decline further. 15 year mortgage rates are very near historic lows and might break record lows this week.

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

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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 #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

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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 #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 #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.

Jumbo Mortgage Rates

Current 30 year jumbo mortgage rates are averaging 5.49 percent, down from an average jumbo mortgage interest rate of 5.52 percent. Current 30 year jumbo home mortgage refinance rates are also lower this week averaging 5.49 percent.

Current 15 year jumbo mortgage interest rates are averaging 4.92 percent, up from an average jumbo mortgage rate of 4.90 percent. Today's 15 year jumbo mortgage refinance rates are also higher averaging 4.90 percent.

Adjustable Mortgage Interest Rates

1 year conventional adjustable mortgage interest rates are averaging 3.73 percent, down from an average 1 year adjustable home mortgage rate of 3.78 percent last week. Current 1 year adjustable mortgage rates for refinancing a home are averaging 3.73.

Current 3 year conventional adjustable rate mortgages are averaging 4.29 percent, down from an average mortgage loan rate of 4.50 percent last week. Today's 3 year refinance mortgage rates are also down this week averaging 4.29 percent.

Currently, 5 year conforming adjustable mortgage rates are averaging 3.73 percent, down from an average home mortgage interest rate of 4.07 percent. Current 5 year refinance home mortgage rates are averaging 3.73 percent.

7 year conforming adjustable mortgage rates are averaging 4.21 percent this week, a decline from last week's average 7 year  mortgage home rate of 4.24 percent. Current 7 year refinance rates were also down to 4.21 percent.

10 year conforming adjustable interest mortgage rates are averaging 4.41 percent today, a decline from an average 10 year home mortgage rate of 4.45 percent last week. Current 10 year home loan mortgage refinance rates are  averaging 4.41 percent.

Jumbo Adjustable Mortgage Rates

Current 1 year jumbo adjustable mortgage rates are averaging 5.95 percent, unchanged from last week's average 1 year adjustable jumbo mortgage rate. 1 year jumbo refinance mortgage rates are also averaging 5.95 percent.

3 year jumbo adjustable mortgage rates today are averaging 5.00 percent, an increase from an average jumbo home mortgage rate of 4.80 percent last week. 3 year jumbo mortgage refinance rates are also up to 5.00 percent.

5 year jumbo adjustable mortgage interest rates today are averaging 4.40 percent, down from last week's average mortgage interest rate of 4.45 percent. 5 year jumbo home refinance loan rates are averaging 4.40 percent.

7 year jumbo adjustable mortgage rates today are averaging 5.26 percent, unchanged from last week's average 7 year home loan rate. 7 year jumbo refinance rates are also unchanged at 5.26 percent this week.

10 year jumbo home mortgage rates today are averaging 5.65 percent, a decline from an average 10 year jumbo home mortgage rate of 5.67 percent last week. Current 10 year jumbo home loan refinance rates are also averaging 5.65 percent this week.

Interest Only Mortgage Rates

Conventional 3 year interest only mortgage rates today are averaging 4.43 percent, a decline from last week's average IO home mortgage rate of 4.63 percent.

Current 5 year conventional interest only loans are averaging 3.84 percent, a decline from last week's average five year interest only home mortgage rate of 4.05 percent.

7 year IO home mortgage rates are averaging 4.35 percent, down from an average mortgage rate of 4.41 percent last week.

Jumbo Interest Only Mortgage Rates

Current 3 year jumbo interest only mortgage rates are averaging 5.47 percent this week, up from an average jumbo interest mortgage rate of 5.35 percent last week.

5 year jumbo IO loan home mortgage rates are averaging 5.01 percent, down from an average IO home mortgage rate of 5.03 percent.

Current 7 year jumbo IO home mortgage loans are averaging 5.57 percent, down from an average jumbo 7 year home mortgage rate of 5.79 percent.

Current Home Equity Loan Rates

10 year home equity loan rates are averaging 7.255 percent, a decrease from last week’s average home equity loan rate of 7.293 percent.

15 year home equity rates are averaging 7.416 percent this week, unchanged from last week’s average home equity rate.

Today’s Home Equity Line of Credit Rates (HELOC)

The current average home equity line of credit rates are averaging 4.777 percent this week, up from last week’s average HELOC rate of 4.664.