Mortgage Rates Today Mixed, Fixed Conforming Rates Sightly Higher

Average mortgage rates today are mixed with fixed conforming 30 year rates and 15 year rates moving slightly higher. Fixed conforming 30 year mortgage rates which hit a record low of 3.39 percent last week are now averaging 3.44 percent. Average rates are higher this week but the uptrend won't last since the Fed is purchasing mortgage backed securities to force rates lower.

Current mortgage rates on 15 year fixed conventional loans are also higher averaging 2.83 percent. The average 15 year mortgage rate is only 1 basis point higher from last week's record low of 2.82 percent. 15 year mortgage interest rates will be moving lower this week and might possibly break through 2.75 percent. You can already find lenders offering 15 year rates below 2.75 percent.

Depending on the state you live in you can find many different lenders offering rates below 2.75 percent with and without mortgage discount points. If you live in Florida we have one lender offering 15 year refinance rates at 2.50 percent with 0.75 mortgage points. On our Nevada 15 year refinance rates list there are lenders offering rates at 2.50 percent with 2 points.

30 year jumbo mortgage rates now below 4.00 percent at a record low average rate of 3.99 percent. Average jumbo mortgage interest rates on 30 year loans are down from last week's average of 4.01 percent. I still can't believe 30 year jumbo mortgage rates are below 4.00 percent.

On our 30 year jumbo refinance rates list for the state of California we have several lenders offering 30 year jumbo refi rates below the average of 3.99 percent. EverBank is offering 30 year jumbo refinance mortgage rates at 3.625 percent with 0.99 points and Citi Mortgage is offering 30 year jumbo rates at 3.75 percent with no points.

15 year jumbo mortgage interest rates are averaging 3.36 percent, down slightly from last week's average 15 year jumbo mortgage interest rate of 3.37 percent. If you're comparing 15 year jumbo refinance rates you can find lenders offering rates below the average. Right now in the state of Connecticut EverBank is offering 15 year jumbo rates at 2.875 percent with 0.50 points.

5 year conforming adjustable mortgage rates are averaging 2.98 percent, an increase from last week's average 5 year adjustable rate of 2.96 percent. Right now on our 5 year adjustable refinance rates list in Texas there are lenders offering rates as low as 2.125 percent with points.

5 year adjustable jumbo mortgage rates are also slightly higher this week averaging 2.82 percent, up from last week's average 5 year jumbo adjustable mortgage rate of 2.80 percent. Right now in the state of Texas we have lenders listed on our rate table offering 5 year jumbo rates less than 2.50 percent with and without points.

Author: Brian McKay
October 10th, 2012

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