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Current mortgage rates today for Wednesday, March 21, 2012 are lower as 10 year bond yields moved lower yesterday. Day over day there weren’t any big moves in current mortgage rates. I don’t expect mortgage rates to move higher until the beginning of 2013 when the economy is humming along.
Mortgage rates today on 30 year home mortgage loans are averaging 4.03%, down from yesterday’s average 30 year mortgage rate of 4.05%. 30 year mortgage rates this low make owning a home more affordable and you can purchase a larger home.
Though these days after the housing bubble and Mcmansions people are more inclined to live within their means buy buying a smaller home then they would have a few years ago.
Today’s mortgage rates on 15 year mortgage loans are also lower averaging 3.26%, down from yesterday’s average 15 year mortgage interest rate of 3.32%. The future direction of 15 year mortgage rates will be higher eventually but just like 30 year rates won’t increase until 2014.
I recently refinanced from a 5/1 adjustable mortgage to a 15 year mortgage with a incredibly low mortgage rate of 3.25%! My wife and I were ecstatic when we were able to lock-in a mortgage rate so low without paying any mortgage points.
Current jumbo mortgage rates today are also lower on both fixed mortgages and adjustable mortgages. Today’s jumbo mortgage rates on 30 year loans are averaging 4.44% down from yesterday’s average jumbo mortgage rate of 4.47%.
Today’s jumbo mortgage rates on 15 year home loans are averaging 3.63%, a decline from yesterday’s average 15 year jumbo mortgage rate of 3.67%. Likewise with a conforming loan if you can refinance from a 30 year jumbo mortgage to a 15 year jumbo mortgage you’ll save hundreds of thousands of dollars in mortgage interest expenses.
Both conforming adjustable mortgage rates and jumbo adjustable mortgage rates are lower today.
Mortgage rates today on conforming 5 year adjustable home loans are averaging 2.85%, down from yesterday’s average 5 year adjustable mortgage rate of 2.89%.
5 year jumbo adjustable mortgage rates today are averaging 3.02%, down from yesterday’s average 5 year jumbo adjustable mortgage rate of 3.04%