Today’s Mortgage Interest Rates – October 19, 2009

Mortgage interest rates were mixed this past week, 30 year mortgage rates stayed above 5.00 percent this week and are slightly higher than last week's average mortgage rate.

Fifteen year mortgage rates were lower this week over last and 10 year U.S. Treasury yields rose during the holiday shortened week, as of last Friday yields were at 3.43 percent.

Current mortgage rates are expected to remain low for now but will start heading up when strong economic data is reported by the government and inflation becomes a real concern. Another factor that will drive mortgage rates higher is the completion of the Fed program to buy $1.25 billion of mortgage-backed securities. The Fed has already started slowing down the purchases and will complete the program in the first quarter of 2009.

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 #2578474

5.389%

15-Year Fixed

5.250%

$3,650

Includes 0.650 points for $2,600

Lender Fees: $1,050

$3,216 /mo

Next >

NMLS #2059741

5.510%

15-Year Fixed

5.375%

$3,520

Includes 0.880 points for $3,520

Lender Fees: $0

$3,242 /mo

Next >

NMLS #1025894

5.632%

15-Year Fixed

5.490%

$3,688

Includes 0.747 points for $2,988

Lender Fees: $700

$3,267 /mo

Next >

NMLS #6606

5.767%

15-Year Fixed

5.625%

$3,696

Includes 0.924 points for $3,696

Lender Fees: $0

$3,295 /mo

Next >

NMLS #2578474

6.360%

30-Year Fixed

6.250%

$4,650

Includes 0.900 points for $3,600

Lender Fees: $1,050

$2,463 /mo

Next >

NMLS #2059741

6.548%

30-Year Fixed

6.490%

$2,412

Includes 0.603 points for $2,412

Lender Fees: $0

$2,526 /mo

Next >

NMLS #1025894

6.597%

30-Year Fixed

6.490%

$4,460

Includes 0.940 points for $3,760

Lender Fees: $700

$2,526 /mo

Next >

NMLS #401822

6.758%

30-Year Fixed

6.625%

$5,495

Includes 0.875 points for $3,500

Lender Fees: $1,995

$2,562 /mo

Next >

NMLS #6606

6.823%

30-Year Fixed

6.740%

$3,392

Includes 0.848 points for $3,392

Lender Fees: $0

$2,592 /mo

Next >

NMLS #401822

7.764%

15-Year Fixed

7.500%

$6,500

Includes 0.625 points for $2,500

Lender Fees: $4,000

$3,709 /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.

Looking for mortgage rates? The best mortgage rates can be found by using our mortgage rate tables:

Best Mortgage Rates

Current Mortgage Interest Rates

Today's average mortgage rates on conforming fixed rate 30 year mortgages are at 5.08%, up from last week's average 30 year rate of 5.02%. Conforming fixed 15 year mortgage interest rates were down this week over last, current mortgage rates are at 4.50%, down from the prior week's average mortgage rate of 4.60%.

Jumbo Mortgage Rates

The average fixed rate 30 year jumbo mortgage is at 5.80% this week, down from the previous week's average interest rate of 5.86%. Fixed 15 year jumbo mortgage rates were down slightly to 5.35% from 5.36%  the prior week.

Adjustable Mortgage Interest Rates

Conforming one-year adjustable mortgage rates are at 4.38% this week, up from last week's average interest rate of 4.12%. One year jumbo mortgage rates were down considerably this week, current mortgage rates are at 5.49%, down from the prior week's rate of 5.81%.

Conforming 3/1 adjustable rate mortgages are averaging 4.38% this week, down from last week's average rate of 4.45%. The average rate on a  jumbo 3/1 ARM is at 5.53%, down from 5.59%.

The average rate on a 5/1 conforming ARM is at 4.16%, up from last week's average rate of 4.05%. Jumbo 5/1 ARMs are averaging 4.89%, up from the prior week's average rate of 4.86%.

7/1 conforming ARMs are averaging 4.51%, down from the previous week's average home loan rate of 4.57%. The average rate for a jumbo 7/1 ARM is at 5.70%, down from 5.71% the prior week.

10/1 conforming ARMs are averaging 4.92% this week, up from last week's average mortgage interest rate of 4.77%. Jumbo 10/1 ARMs are averaging 6.07%, up from 5.96%

Interest-Only (IO) Mortgage Rates

The average conforming 3/1 interest only mortgage rate is at 4.48%, down from the prior week's average of 4.52 percent. Jumbo 3/1 IO loans are averaging 5.81%, up from 5.62%.

5/1 conforming IO home loan rates averaging 4.22% this week, up from 4.20% the prior week. Jumbo 5/1 IO home loans are averaging 5.31% this week, up from last week's average rate of 5.29%.

Conforming 7/1 IO loans are averaging 4.69%, down from last week's average interest rate of 4.72%. Jumbo 7/1 IO mortgages are averaging 6.18%, down from 6.26%.

Home Equity Loans

The average rate on a 10 year home equity loan is at back under 7.50% at 7.47%, down from the previous week's average loan rate of 7.65%. 15 year home equity loans are averaging 7.60 percent this week.

Home Equity Line of Credit (HELOC)

Average home equity line of credit rates are at 4.87 percent this week, down considerably from last week's average HELOC rate of 5.10 percent.