30 year mortgage refinance rates are higher this week but stayed under 5.00% for the second consecutive week. 30 year refinance rates are averaging 4.95%, up from last week’s average refinance rate of 4.88%. 15 year mortgage refinance rates are also higher this week. The average rate on a 15 year mortgage refinance loan is averaging 4.35%, up from last week’s average refinance rate of 4.30%.The Fed meets this week to decide the direction of interest rates. An interest rate hike isn’t in the cards in this meeting but a change in Fed speak probably is. Since the credit crisis, the Fed has said they will keep rates low for an “extended period of time.” A debate is heating up about changing that phrase. Read more here: Fed Signals Higher Rates.
30 year jumbo rates for refinancing are unchanged this week over last. The average refinance rate is at 5.57%. The average 15 year jumbo refinance rates was lower this week, the second consecutive week refi rates remained under 5.00%. 15 year jumbo mortgage refi rates are averaging 4.97%, down from last week’s average rate of 4.98%.
Looking for refi rates? Use our rate tables to find the best refi rates. MortgageRates.MonitorBankRates.com.
Mortgage Refinance Rates
Adjustable Refinance Mortgage Rates – Conforming Loans
1 year adjustable refinance loan rates are averaging 4.48% this week, up from last week when 1 year loan refinance rates averaged 4.40%.
3 year adjustable refi rates are averaging 4.51% this week, an increase from the prior week’s mortgage loan refinance rate of 4.44%.
The average 5 year adjustable refinance interest rate is at 3.97% this week, up from last week’s average mortgage refinance interest rate of 3.99%.
The average 7 year conforming mortgage refinance rate is at 4.42%, an increase from last week’s average mortgage refinance rate of 4.38%.
The average 10 year refinance mortgage rates is at 4.82% this week, up from last week’s refinance rate of 4.77%.
Jumbo Refinance Mortgage Rates
The average 1 year jumbo adjustable refinance rate is at 5.59%, unchanged from last week’s average refinance rate.
3 year jumbo adjustable refi rates are averaging 5.14%, down from last week’s average adjustable refinance loan interest rate of 5.18%.
The average 5 year jumbo refinance interest rate is at 4.63% this week, up from last week’s average refinance bank rate of 4.58%.
7 year jumbo refinance home loan rates are averaging 5.34% this week, a decrease from last week’s average refinance home loan rate of 5.46%.
10 year home refi rates are averaging 5.88% this week, up from the prior week’s average 10 year home refinance rate of 5.81%.
Looking into refinancing your mortgage: Use our refinance rate tables to find the best refinance rates: MortgageRates.MonitorBankRates.com
