As we are starting a new week I was curious to see what the street and analysts are saying and thinking about the mortgage rates today and during the current week. The general trend that I am seeing so far judging from the headlines is that the upward trend of the current mortgage rates is continuing and we are slowly approaching to 6 home loans.
According to Monitorbankrates.com "The current mortgage rate on a conforming 30-year loan increased to 5.51 percent the week ending August 10, 2009, up from the prior week’s average mortgage loan rate of 5.26 percent. The average mortgage rate on a conforming 15-year conforming home loan is up to 4.87 percent this week, an increase from the previous week’s average mortgage rate of 4.70 percent."
Jumbo rates are going up too. In the same place we read that 'The average rate on a jumbo 30-year home mortgage loan increased to 6.31 percent for the week ending August 10, 2009, up from last week’s average home loan rate of 6.15 percent. 15-year jumbo loan rates had a big increase week over week, 15-year rates increased to 6.15 percent, up from the prior week’s average rate of 5.80 percent.'
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