Mortgage Rates Current
Mortgage rates current are low right now and expected to remain low for the rest of 2011. Current mortgage rates on 30 year home loans are averaging 4.51%. While this mortgage rate isn’t a low for 2011 the rate is very near the low for the year. A year ago at this time 30 year mortgage rates were only slightly above where they are right now at 4.57%.
Mortgage rates today on 15 year home loans also remain near record lows and 15 year mortgage rates won’t be going higher this year. 15 year mortgage rates currently are averaging 3.65%. In July 2010 15 year mortgage rates weren’t much higher than the current mortgage rate. 15 year rates were averaging 4.75% a year ago at this time.
Current adjustable mortgage rates are also near lows for the year. Current 5 year adjustable mortgage rates are averaging 3.29%. As for 5 year adjustable rates in July 2010 they were a lot higher at 3.85% since short term Treasury yields were also considerably higher.
1 year adjustable mortgage rates are averaging 2.95% right now. Wow, that has to be one of the lowest mortgage rates I’ve ever seen. A year ago in July 1 year adjustable mortgage rates were also considerably higher averaging 3.74%.