Mortgage Rates| Compare Current Mortgage Rates Today
Search for today's mortgage rates for home loans to buy a home or refinance a mortgage. You can compare rates today from several lenders by searching in your state below. The current mortgage rates displayed are for a refinance loan in the amount of $150,000. Change the search form to get your own mortgage loan quotes from several different lenders without providing any personal information. When comparing rates you will also see the annual percentage rate (APR) which is higher than the interest rate because fees and points are calculated into the rate. Your FICO score and the down payment on a home purchase or percent equity in your home on a refinance will also determine the rates you are quoted.
Mortgage Rates Updated Wed Mar 12, 2014
Today’s mortgage rates moved lower as a result of U.S. Treasury yields going lower. Average 30 year refinance rates are at 4.31 percent, a decline from last week’s average 30 year refinance rate of 4.39 percent. Since the start of 2014, average mortgage rates have fallen, following 10 year treasury yields lower.
Average 30 year rates are at 4.31 percent but you can easily find lenders quoting 30 year rates below the average. The lowest 30 year mortgage rates quoted right now on our rate table is at 3.875 percent with less than 2.00 points. If you’d rather not pay points, the lowest 30 year rates we have are quoted at 4.125 percent, which is still below the average rate.
Mortgage Rates Lower on Heels of Federal Reserve Tapering
At the beginning of the year, 30 year mortgage rates were above 4.50 percent at 4.57 percent. Average rates were predicted to move towards 5.00 percent because the Federal Reserve started tapering their purchases of long term U.S. bonds and mortgage-backed securities. The Fed had been buying $85 billion a month in these securities but announced in December that they would buy $10 billion less a month starting in January.
The Fed also announced in January that starting in February they would buy only $65 billion a month. The Fed is expected to continue tapering their purchases in 2014, eventually stopping their buys sometime later this year. The prospect of this happening sent average mortgage rates and long term bond yields over 1.00 percent in 2013.
Refinancing Loan Demand Declines
Now that the tapering is actually happening, the good news for those buying a home is that rates are not moving higher but higher refinance rates snapped demand for homeowners refinancing their mortgage. The Mortgage Bankers Association’s most recent Weekly Mortgage Survey showed demand for home loans increasing while the refinancing share of loans continues to fall.
The refinance share of mortgage loans decreased to 57.7 percent of total applications for the week ending February 28, 2014, down from 58 percent the previous week. Refinance share of loans is at the lowest level since early September of 2013. The general rule when refinancing a loan is that it makes financial sense if the rate on your loan is at least 1.00 percent higher than current rates.
Refinance to a Shorter Term Mortgage
If you missed the refinance window because rates are higher, you might still have an option to refinance to a shorter term mortgage. For example, if your current mortgage is a 30 year loan, it will still make financial sense to refinance to a shorter term loan like a 15 year loan or even a 10 year loan.
Even if 15 year and 10 year mortgage rates are not 1.00 percent lower than your current mortgage rate, refinancing will still save you money. You can use a mortgage calculator to figure out if refinancing to a shorter term loans makes sense for you. The only drawback to a 15 year or 10 year loan over a 30 year loan is the monthly mortgage payments will be higher.
Average 15 Year Mortgage Rates Today
15 year mortgage rates today are averaging 3.32 percent, a decline from last week’s average 3.38 percent. Earlier this year average 15 year mortgage rates were above 3.50 percent and were headed towards 3.75 percent. Now it looks like rates will decline to near 3.25 percent.
The best 15 year refinance rates on our rate table are almost 50 basis points below the average 15 year rate. The lowest 15 year rate quoted by lenders right now is at 2.875 percent with 2 mortgage points. The best 15 year rate without points is quoted at 3.375 percent.
Current Jumbo Mortgage Rates on 30 Year Mortgages
The average 30 year jumbo mortgage rate is currently at 4.28 percent, down from the previous week’s average 30 year jumbo rate of 4.37 percent. During the first week of January 2014, average 30 year jumbo rates were above 4.50 percent at 4.63 percent. Average rates looked to head towards 5.00 percent but now it appears rates will fall closer to 4.00 percent.
The lowest current jumbo rates quoted by lenders in our rate table are at 4.25 percent with no mortgage points.
Today’s 15 Year Jumbo Rates
Average 15 year jumbo mortgage rates today are at 3.69 percent, down from the prior week’s average 15 year jumbo mortgage rate of 3.75 percent. Average 15 year jumbo rates will probably fall back under 3.50 percent which is a big change from earlier this year when 15 year rates were slightly above 4.00 percent.
The best 15 year jumbo rates on our rate list are below the average at 3.25 percent with no mortgage points.
5/1 Conforming Adjustable Mortgage Rates
Average 5 year conforming adjustable rates are currently at 3.39 percent, down from last week’s average 5 year adjustable mortgage rate of 3.42 percent. Average 5 year adjustable rates haven’t moved as much as fixed rates the past year since shorter term bond yields haven’t changed much.
The best 5 year adjustable rate on our rate list is over 1.00 percent lower than the average rate. The lowest 5 year adjustable refinance rate today is at 2.125 percent with 1.77 mortgage points. The lowest 5 year conforming adjustable rate without points is still way below the average at 2.625 percent.
5 year Jumbo Adjustable Rates
5 year jumbo adjustable mortgage rates are currently averaging 2.84 percent, a decline from last week’s average 5 year jumbo rate of 2.89 percent. For the past year average 5 year jumbo rates have been lower than average 5 year conforming rates. The lowest 5 year jumbo rate on our rate list is also below the average rate.
Right now the lowest 5 year jumbo adjustable rate in our database is at 2.375 percent with 1.75 mortgage points. The best 5 year jumbo rate on our rate table is at 2.75 percent, still below the average rate.
The financial crisis of 2007 and the Great Recession in 2008 brought us the lowest mortgage rates in our lifetime. Mortgage rates today are slightly higher than the record lows but when you compare the past several decades, rates are still low. In 2014 and 2015 mortgage rates are forecast to move higher but the expected increases are not too much.
Historical Look at Average Mortgage Rates
Over the past three decades, average 30 year mortgage rates as reported by Freddie Mac have varied by over 15 percent. Late in 2012, average 30 year mortgage rates hit a record low of 3.35 percent. Rates moved higher in 2013 but current rates are only about 1.00 percent higher.
The record high for average 30 year mortgage interest rates in Freddie Mac’s survey was 18.45 percent back in October 1981. This record high for mortgage rates was brought on by record high inflation, which in October 1981 was at 10 percent on an annualized basis. High inflation back in 1981 sent 10 year bond rates to over 15 percent, which in turn sent mortgage rates to record highs.
The higher point for 15 year mortgage rates as 8.80 percent in December 1994. Historical data from Freddie Mac on average 15 year mortgage rates only goes back as far as September 1991. If Freddie Mac had records for 15 year mortgage rates going back 30 years, average rates probably also hit double-digit highs in October 1981.
15 year mortgage rates hit record lows late in 2012 and have since moved about 1 percent higher. In December 2012, average 15 year mortgage rates in Freddie Mac’s survey hit a record low of 2.66 percent. In April 2013, average 15 year rates tied the record low of 2.66 percent.
Current average 30 year conforming mortgage rates this week are at 4.54 percent, up slightly from last week’s average 30 year mortgage rate of 4.49 percent. While 30 year rates have been hovering around 4.50 percent, there are still many lenders quoting 30 year rates around 4.00 percent and slightly lower if you’re willing to pay points to buy down the rate.
Mortgage rates on 15 year conventional mortgages are also higher this week over last. 15 year mortgage rates today are averaging 3.55 percent, up from the prior week’s average 15 year rate of 3.48 percent. As with 30 year rates, there are many lenders quoting 15 year rates below the average. The lowest 15 year rates on our rate table are currently at 3.00 percent with 2 mortgage points.
Current Jumbo Mortgage Rates
In 2013, jumbo mortgage rates on both 30 year and 15 year mortgages also moved higher. The current average 30 year jumbo mortgage rate is at 4.63 percent, up from last week’s average 30 year jumbo rate of 4.58 percent. The best jumbo rates available right now are around 4.00 percent with points.
15 year jumbo mortgage rates are currently averaging 3.92 percent, up from last week’s average 15 year jumbo rate of 3.88 percent. The lowest 15 year jumbo refinance rates available are currently at 3.25 percent with points. Buying down a mortgage rate with points lowers your overall monthly mortgage payment.
Mortgage Rates Forecast for 2014
Now that we have a historical perspective of where mortgage rates have been and we know where current rates are, let’s look into forecasts for average rates in 2014. The Mortgage Bankers Association has forecasted average 30 year mortgage rates will increase to 5.1 percent by the end of 2014.
If the MBA’s forecast is correct, we are only looking at rates to increase another .50 percent for the entire 2014 calendar year. This is good news for the housing market, which has been recovering but is still on shaky ground.
2015 Forecast for Mortgage Rates
Moving onto 2015, average 30 year mortgage rates will continue to move higher but the increases will be even smaller. The MBA has forecasted average 30 year rates will increase to only 5.3 percent by the end of 2015, virtually flat with the 2014 forecast. Of course the MBA’s forecast could be wrong, especially if economic growth really picks up and inflation becomes a concern.
The Federal Open Market Committee (FOMC) has released economic forecasts for the next several years and inflation isn’t expected to be a concern. The PCE inflation rate for 2014 is forecasted to only be between 1.6 percent and 1.8 percent. In 2015 and 2016, the rate is only expected to be as high as 2.0 percent. Inflation remaining that low will keep a lid on any increases in bond rates and mortgage rates.
Higher Home Prices Will Help Many Homeowners Refinance
Only a slight increase in average rates are forecasted for 2014 and 2015 but continued higher home prices will help many homeowners refinance their mortgage. Since the housing bust, there are millions of homeowners who would like to take advantage of record low refinance rates but can’t because they don’t have enough equity built up in their homes. Home prices have increased a cumulative 20 percent the past two years and according to the National Association of Realtors, are expected to increase another 6 percent in 2014.
If you tried refinancing your mortgage in the past but didn’t have enough equity, you should look into it again, especially if your current 30 year mortgage rate is 5.5 percent or higher. If your loan rate isn’t 5.5 percent or higher, you may also want to consider refinancing to a shorter term mortgage.
15 year refinance rates can be found as low as 3.25 percent and refinancing to a shorter term loan will save you plenty of money. You can use a mortgage calculator to see the difference between a 30 year loan and a 15 year loan. Depending on the loan amount, you can save tens of thousands or even hundreds of thousands of dollars in accumulated interest.
Higher Mortgage Rates and Home Prices Make Now a Good Time to Buy
If you have been on the sidelines waiting to buy a home now is probably the best time in your lifetime. While mortgage rates are moving higher, the increases are only forecasted to be less than 1.00 percent over the next two years. This is good news but any increase in rates lowers the loan amount you can quality for.
Recent FHA changes to qualified loans have lowered the debt-to-income ratio from 45 percent to 43 percent. This means your monthly debt payments including your mortgage can’t exceed 43 percent of your income. This rule change also lowers the amount you can borrow to buy a home.
The 20 percent increase in home prices for past two years combined with the expected 6 percent increase in 2015 means that with prices on the rise, there will be less home affordability in the near future.
Current mortgage rates were unaffected by the Federal Open Market Committee’s decision to cut bond and mortgage-backed securities purchases in January. The FOMC’s announcement was a surprise to most, as analysts believed the Fed wouldn’t start tapering their buys until March or June of 2014.
10 year bond yields only rose 0.03 percent on the news and equities markets rallied, sending the Dow and S&P to record highs. Earlier this year, just the thought of the Fed slowing their purchases sent 10 year bond rates and mortgage rates soaring. Both bond rates and mortgage rates increased over 125 basis points in just a couple of months.
Fed Tapers to the Tune of $10 Billion a Month Starting In January 2014
The Fed handled this change in policy very well and the markets took it well. Although the Fed will start tapering in January, to the tune of $5 billion a month less in long term bond purchases and $5 billion a less per month in MBS purchases, the Fed will continue these buys until the end of 2014.
The Fed also said they will keep their key benchmark interest rate, the fed funds rate, near zero percent well past the point of an unemployment rate of 6.5 percent. In an overview of the FOMC participants’ projections for the fed funds rate, 12 Committee members don’t expect a need to increase the fed funds rate until 2015, while only 2 believe the need will come in 2014 and 3 members believe the need will come in 2016.
Higher Mortgage Rates are Coming Sooner Than Higher Deposit Rates
The change in the Fed’s policy will slowly send mortgage rates higher from current levels. 30 year mortgage rates today are averaging 3.49 percent and will remain in a range of 3.35 percent to 3.70 percent for the rest of this year. In 2014, average 30 year conforming mortgage rates will increase to around 4.50 percent by mid-year and to around 5.00 percent by the end of 2014.
As for deposit rates, don’t expect a big change in rates until sometime in 2015. Deposit rates are tied to the federal funds rate and right now a large majority of Committee members don’t believe there will be any need to increase the fed funds rate until 2015. Current 1 year CD rates just above 1.00 percent will be with us until 2015.
15 Year Mortgage Rates Today on Conventional Loans
Average 15 year conforming mortgage rates today are currently at 3.52 percent, which is higher than last week’s average 15 year mortgage rate of 3.46 percent. For the rest of this year, average 15 year rates will also remain near current levels and move higher in 2014.
By the middle of 2014, look for average 15 year mortgage interest rates to increase to 4.00 percent and by the end of 2014, average rates will be near 4.50 percent. Even with the increase in average rates this year and next, a 4.50 percent 15 year mortgage rate is still very low by historical standards.
Current 30 Year Jumbo Mortgage Rates
30 year jumbo mortgage rates are currently averaging 4.57 percent, up from last week’s average 30 year jumbo mortgage rate of 4.53 percent. For the remainder of 2013, average 30 year jumbo rates will stay near 4.50 percent. For next year, look for 30 year jumbo rates to be around 5.00 percent by the second quarter and as high as 5.50 percent by the end of 2014.
For 2013, the spread difference between conforming rates and jumbo rates has been narrow. At one point this year, average 30 year jumbo rates were actually lower than average 30 year conforming rates. The Fed’s loose monetary policy over the past several years has made money cheap so to speak, which is why jumbo rates are not much higher.
Average 15 Year Jumbo Mortgage Rates Today
Today’s mortgage rates on 15 year jumbo mortgage loans are averaging 3.89 percent, an increase from an average 15 year jumbo rate of 3.84 percent. For the rest of 2013, average 15 year jumbo rates will remain under 4.00 percent on the high end and will remain above 3.75 percent on the low end.
Looking into 2014, average 15 year jumbo rates will move above 4.00 percent to the 4.50 percent range by mid-year. By the end of next year, average 15 year rate will head towards 5.00 percent. Right now the lowest 15 year jumbo refinance rates quoted on our rate tables for California are at 3.75 percent with no points.
Since the beginning of 2013, mortgage rates have drifted higher from record lows. The increases on average for both fixed conforming mortgages and fixed jumbo mortgages have been about 1.00 percent, or 100 basis points. Mortgage rates have moved higher but when you compare today’s mortgage rates to historical averages, rates are still incredibly low.
Take 30 year conventional mortgage rates which are currently averaging 4.35 percent. 30 year mortgage interest rates set a record low of just above 3.25 percent in the winter, about 1.00 percent lower than today’s rates. Back in 2008, 30 year conventional rates were above 5.00 percent for most of the year and back in 2006 rates were above 6.00 percent.
Best 30 Year Mortgage Refinance Rates Today
Looking for the lowest rates on our rate lists across the United States, we see in Florida the best rate available is at 3.875 percent with 1.452 mortgage points. The best 30 year refinance rates without points in FL are also below the average rate at 4.125 percent. In California, the lowest 30 year refinance rate is also at 3.875 percent with 1.452 points and at 4.125 percent with zero points.
Millions of homeowners who wanted to take advantage of record low rates the past few years were unable to do so because they didn’t have enough equity in the home. If you’re one of these homeowners, you should look into refinancing again because home prices are up 12 percent the past year.
Lowest 15 Year Refinance Rates Currently Available
Average 15 year refinance rates today are at 3.45 percent, up from last week’s average 15 year refinance rate of 3.43 percent. The best refinance rates on 15 year conforming mortgages are currently at 2.75 percent with 1.879 mortgage points on our rate list in California. The best CA refinance rates without points on 15 year mortgages are at 3.125 percent, still more than 0.30 percent below the average rate.
The best 15 year refinancing rates on our rate list for the state of Texas are at also at 2.75 percent with points. The best 15 year refi rate without points currently offered in TX are listed at 3.125 percent. Many of the lender’s rates mentioned in this article can be found in most states by searching our rate lists.
Best 30 Year Jumbo Refi Rates at 4.125 Percent
For most of 2013, the rate difference between conventional mortgages and jumbo mortgages has been narrowing. Back during the housing bust, if you could find a lender offering 30 year jumbo mortgages the rate was around 2.00 percent higher than 30 year conforming rates at the time.
Now the average rate difference between both types of mortgages is less than 0.25 percent. At one point during this year, average 30 year jumbo rates were actually lower than average 30 year conforming rates. Right now, the lowest 30 year jumbo refinance rates on our list are at 4.125 percent with points. The lowest 15 year jumbo refinancing rates without points are at 4.375 percent.
15 Year Jumbo Rates Averaging 3.75 Percent
15 year jumbo mortgage rates are averaging 3.75 percent today, down from an average 15 year jumbo rate of 3.79 percent. 15 year jumbo rates are very low now and will remain below 4.00 percent for the rest of this year. Looking forward to next year, 15 year jumbo rates will remain between 4.00 percent and 5.00 percent.
The lowest 15 year jumbo rates available right now on our rate list for New Jersey are much lower at 3.25 percent with no points. The lowest 15 year jumbo rates in New York are at 3.375 percent with no points. In the state of California, the best 15 year jumbo rates are at 3.25 percent with 1.874 points and at 3.375 percent with zero points.
Low mortgage rates are bringing home buyers back to the market and sending home prices higher. As home prices rise, more and more homeowners rise above water on their mortgages. According to CoreLogic, in the second quarter of 2013, 2.5 million U.S. properties emerged from underwater or negative equity.
The number of homeowners above water is increasing. In the fourth quarter of 2012, only 200,000 more homeowners returned to positive equity, less then one tenth the number in the second quarter of this year. The total number of residential properties with a mortgage with equity stands at 41.5 million.
7.1 Million Homeowners Still Under Water on Their Mortgage
This news is very positive for the residential real estate market and the economy but there are still 7.1 million homeowners, 14.5 percent of all residential properties, underwater on their mortgage. These homeowners can’t sell their homes if they want to nor are they able to take advantage of record low refinance rates to refinance their loan.
30 Year Refinance Rates Hit a Record Low in 2013
30 year conforming refinance rates fell to as low as 3.27 percent on average earlier this year. Current 30 year refinance rates are higher, averaging 4.16 percent, but are still down from the high of 4.81 percent this year. One recommendation we can make is if your current mortgage rate is 5.00 percent or higher, you should refinance your loan.
Search for the Lowest Mortgage Rates in Your State Here: Mortgage Rates
Even if you tried to refinance your mortgage over the past year and weren’t able to, you should try again. Since home prices have risen in the low double digits over the past 12 months, you might now have enough equity to refinance. Prices in some markets that were hit hard during the housing bubble are bouncing back sharply. Some areas in Arizona, Nevada, California, and Florida have seen prices going up 20 percent or more.
Mortgage Rates Fall to Four Month Lows
Over the summer, average mortgage rates on conforming and jumbo loans shot up over 100 basis points on fears the Federal Reserve would taper their stimulus measures. The Fed didn’t stop their stimulus programs and mortgage rates started falling again. Just this past week, Freddie Mac reported mortgage rates falling to four month lows.
Average 30 year mortgage rates for the week ending October 24, 2013, fell to 4.13 percent with 0.8 mortgage points. The average 30 year mortgage rate is down from the prior week’s average of 4.28 percent. Freddie Mac’s rate is an average rate, currently there are lenders in our rate database quoting 30 year rates as low as 3.75 percent with points.
15 year mortgage rates also fell week over week in Freddie Mac’s report. Average 15 year mortgage rates fell to 3.24 percent with 0.6 mortgage points, down from the prior week’s average 15 year mortgage rate of 3.33 percent. Right now on our rate tables the best mortgage rates on 15 year loans are at 2.625 percent with points.
Jumbo Mortgage Rates Today
Average 30 year jumbo mortgage rates today are at 4.39 percent, a decline from the prior week’s average 30 year jumbo mortgage rate of 4.42 percent. 30 year jumbo rates moved above 5.00 percent during the summer on fears the Federal Reserve would stop buying mortgage-backed securities and long term U.S. bonds.
Since the Fed hasn’t announced an end to their purchases and now look to continue their purchases well into 2014, average jumbo mortgage rates have fallen. For the rest of 2013 it appears 30 year jumbo rates will remain below 4.50 percent and possibly fall back to the 4.00 percent level.
Right now on our rate tables, we have one lender quoting 30 year jumbo loan rates at 4.00 percent with points. We also have many lenders quoting 30 year jumbo rates at 4.125 percent and the lowest jumbo rate without points is quoted at 4.25 percent.
Current mortgage rates on 15 year jumbo loans are currently averaging 3.78 percent, down from the prior week’s average 15 year jumbo mortgage rate of 3.80 percent. For the remainder of the year, 15 year jumbo rates will stay under 4.00 percent and might fall as low as 3.50 percent.
Currently, the lowest 15 year jumbo refinance rates in our database are much lower than the average rate. The lowest rate with mortgage points is at 3.125 percent from Pentagon Federal Credit Union. The lowest 15 year jumbo refinance rate without points is at 3.375 percent.
Mortgage rates continue to trend lower this week, following 10 year U.S. Treasury rates lower. Average 30 year mortgage rates today are at 4.28 percent, down from last week’s average 30 year mortgage rate of 4.35 percent. Both mortgage rates and Treasury rates declined in recent week on the Federal Open Market Committee’s decision to continue quantitative easing.
This week bond rates have been in a tight range of 2.60 percent to 2.65 percent, in essence shrugging off the shutdown of the Federal Government. If the shutdown lasts a long time and the economy is hurt by it, bond rates will decline from current levels which would send mortgage rates lower as well.
Today’s Mortgage Rates on 15 Year Conforming Loans
Average 15 year conforming mortgage rates are at 3.33 percent, down from last week’s average 15 year rate of 3.44 percent. 15 year mortgage rates were below 3.00 percent earlier this year but moved considerably higher over the summer. The high point for 15 year rates was back in early August when average 15 year rates hit 3.85 percent.
In the coming weeks and months, average conventional mortgage rates will stay around current levels provided the government shutdown is resolved and there are no issues increasing the debt ceiling limit. If these two issues can’t be resolved in time, look for conforming rates to move sharply lower because investors will send bond yields much lower on concerns about future economic growth.
Jumbo Mortgage Rates Decline
Jumbo mortgage rates have also moved lower the past several weeks for the same reason that conforming rates declined. Average 30 year jumbo mortgage rates today are at 4.61 percent, down from the prior week’s average 30 year jumbo mortgage rate of 4.73 percent. Average 30 year jumbo rates were just above 5.00 percent in early August and have since moved much lower.
15 year jumbo mortgage rates are averaging 3.85 percent, down from the prior week’s average 15 year jumbo rate of 4.02 percent. Both 30 year and 15 year jumbo rates will move slightly lower in the coming weeks but any big move lower will also be dependent upon the budget issues in Washington.
Adjustable Mortgage Rates Today
Average 5 year conforming adjustable mortgage rates are still above average 5 year jumbo mortgage rates this week. Current 5 year conforming adjustable mortgage rates are averaging 3.43 percent, a decline from an average 5 year adjustable rate of 3.56 percent last week. 5 year jumbo adjustable mortgage rates are averaging 3.15 percent, down from the previous week’s average 5 year jumbo rate of 3.34 percent.
Average mortgage rates held steady the past several weeks but rates will be moving higher in the coming week. Market forces drove 10 year Treasury yields near 3.00 percent on concern the Fed will begin winding down their bond buying program. Since lenders tie mortgage rates to long term bond yields we can expect rates to move higher.
Mortgage Rates Will Move Higher on Strong Job Growth
Two employment reports were released that will send bond yields and mortgage rates even higher. The payroll processing company, ADP, announced the private sector added 176,000 jobs in August. The Labor Department said the number of Americans filing new claims for jobless benefits fell 9,000 last week to 323,000, a near five-year low and the lowest point since the recession.
On the news, 10 year bond yields are up 8 basis points to 2.93 percent, the highest point in 2013. Tomorrow the Labor Department will release non-farm payrolls for the month of August and the current unemployment rate. Analysts are expecting 210,000 new jobs to have been created and the unemployment rate to tick up 0.1 percent to 7.5 percent.
Mortgage Rates Today Conforming Loans
Numbers stronger than expected will send 10 year bond yields over 3.00 percent which will send mortgage rates higher. Mortgage rates today on 30 year conforming loans are averaging 4.46 percent. Next week we could see 30 year mortgage rates move to the 3.65 percent range. Currently there are lenders on our rate list offering 30 year rates as low as 4.00 percent with points.
Today’s mortgage rates on 15 year conventional loans are averaging 3.49 percent, up from Tuesday’s average 15 year mortgage rate of 3.45 percent. Next week average 15 year rates will move above 3.50 percent and probably as high as 3.70 percent. The lowest 15 year refinance rates on our rate list today are at 3.625 percent.
Current Mortgage Rates on Jumbo Loans
Average jumbo mortgage rates are also higher today and will move higher this coming week. Current mortgage rates on 30 year jumbo loans are averaging 4.70 percent, up from Wednesday’s average 30 year jumbo mortgage rate of 4.67 percent. The lowest jumbo refinance rates on our rate list right now are at 4.375 percent with points.
15 year jumbo mortgage rates are currently averaging 4.05 percent, up from Wednesday’s average 15 year jumbo rate of 4.01 percent. This week, average 15 year jumbo rates will move above 4.15 percent but right now you can still find jumbo rates below 4.00 percent. The lowest 15 year jumbo rate in our database are currently at 3.75 percent with points.
Adjustable Mortgage Rates Today
Average 5 year adjustable conforming mortgage rates are at 3.56 percent, up from yesterday’s average 5 year adjustable rate of 3.49 percent. If you’re willing to pay points, the lowest 5 year conforming rates on our rate list are still below 3.00 percent at 2.50 percent. The lowest 5 year conforming rates without points are at 2.75 percent.
Jumbo 5 year adjustable rates are averaging 3.30 percent, up from an average 5 year jumbo rate of 3.27 percent set yesterday. Next week 5 year jumbo rates will probably remain near current levels. The lowest 5 year jumbo refinance rates on our rate list are at 2.625 percent and the lowest 5 year rates without points are at 3.00 percent.
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