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Mortgage Rates| Compare Current Mortgage Rates TodaySearch 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 $250,000. 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 4, 2015
Lender
APR
Rate
Cost & Fees
Notes
The Experience is the Difference
The Experience is the Difference
The Experience is the Difference
TD Bank, NA 3.447%
2/27/2015
3.375%
at 0.000 pts
60 day lock rate Est payment: $1,417.52
Fees in APR: $982
Citizens Bank 3.426%
2/27/2015
3.375%
at 0.000 pts
60 day lock rate Est payment: $1,417.52
Fees in APR: $703
HSBC Bank USA, N.A. 3.426%
2/25/2015
3.375%
at 0.000 pts
60 day lock rate Est payment: $1,417.52
Fees in APR: $705
Raymond James Bank, NA 3.474%
2/25/2015
3.375%
at 0.000 pts
45 day lock rate Est payment: $1,417.52
Fees in APR: $1,354
Beneficial Bank 3.286%
2/25/2015
3.250%
at 0.000 pts
60 day lock rate Est payment: $1,405.34
Fees in APR: $499
The rates above were collected by Bankrate.com on the dates specified. Rates are subject to change without notice and may vary from branch to branch. Rate/APR and terms may vary based on the creditworthiness of the individual and the extent to which the loan differs from the one used for Bankrate.com quotes. For criteria used in surveys of rates above, click here. These quotes are from banks, thrifts, and brokers, some of whom have paid for a link to their own Web site, where you can find additional information. Mortgage rates move lower again this week, continuing to defy analysts predictions of higher rates. 30 year mortgage rates today are averaging 3.82 percent, a decline from last week’s average 30 year mortgage rate of 3.84 percent. Conforming 15 year rates dropped from 2.99 percent to 2.96 percent. We will see average rates increase this week because 10 year bond yields moved sharply higher. A week 10 year yields hit a low of 1.78 percent and today yields are at 1.99 percent. On February 2nd, 10 year yields hit a 2015 low of 1.67 percent. Although 10 year yields increased 32 basis points over the past week, average mortgage rates won’t increase by the same amount. The reason being, earlier in 2015 lenders didn’t decrease mortgage rates as much as 10 year bond yields dropped. From late December 2014 until early February 2015 10 year yields dropped from 2.26 percent to 1.67 percent, a 59 basis point decrease. During the same time, average 30 year mortgage rates dropped from 4.08 percent to 3.82 percent, only a 26 basis point decrease. 30 year rates will move higher this week, probably in the range of 3.95 percent to 4.00 percent. Remember, these rates are average rates, there are lenders quoting rates below and above the average. The lowest 30 year refinance rates on our rate list are at 3.75 percent with points. 15 year conforming rates will also increase this week and move back above 3.00 percent. This will be the first time in several weeks that average 15 year rates are above 3.00 percent. Rates will move into a range of 3.05 percent to 3.10 percent. Current mortgage rates on 30 year jumbo loans are averaging 4.40 percent, an increase from the previous week’s average 30 year jumbo rate of 4.38 percent. The lowest 30 year jumbo refinance rates on the rate table are much lower at 3.625 percent with no mortgage points. Today’s 15 year jumbo mortgage rates are averaging 4.17 percent, down from the prior week’s average 15 year rate of 4.19 percent. The best 15 year jumbo refi rates quoted on our rate table are almost 150 basis points lower at 2.75 percent with 1.75 points. Rates will be moving higher in 2015 but rates are still low historically speaking. Low rates continue to support the housing market recovery. Fannie Mae has forecast a robust housing market in 2015. New home sales, existing home sales, and home prices are all forecast to increase in 2015. By the end of 2015 Fannie Mae also forecasts 30 year mortgage rates will only be averaging 4.20 percent, not much higher from current levels. If you’re thinking about buying a home 2015 will be a good year to do so. Mortgage rates hit a new low in 2015, defying experts’ forecast of higher rates. Average 30 year mortgage rates today are at 3.84 percent, down from the prior week’s average 30 year rate of 3.89 percent. We were supposed to see 30 year rates above 5.00 percent in the first quarter of 2015, but just the opposite has occurred. Mortgage rates headed lower instead of higher in 2014 and thusfar in 2015 as a result of bond rates moving lower. 10 year bond rates were forecast to be about 3.00 percent in the first quarter of 2015. Instead, 10 year bond yields are down 7 basis points to 1.75 percent this morning. In fact, 10 year bond yields are only 8 basis points above the all-time record low set in early 2013. This second round of low rates is starting to set off another refinance boom. Homeowners are taking advantage of record low rates and refinancing their home loans to lower their monthly mortgage payments. Low mortgage rates combined with a strengthening economy are expected to help the housing market. Home sales and home prices are expected to increase in 2015. Fannie Mae released a report entitled “2015 Economic Outlook: Economy Drags Housing Upward,” which supports this view. Purchases of new homes in the United States has increased to the highest point in over 6 years. The Commerce Department said that new home sales increased 11.6 percent in December to 481,000, the most since June 2008. This is yet another positive sign for the housing market in 2015. It will also be easier to get a mortgage in 2015 because the Federal Housing Finance Agency, the overseer to Freddie Mac and Fannie Mae, loosened mortgage restrictions. Lower down payments and lower mortgage insurance requirements are all designed to help make homes more affordable for first-time homebuyers. All of this is positive news for the housing market. The National Association of Home Builders released an interesting report on housing trends and Millennals. As first-time buyers, they will demand smaller, more affordable homes. You can read the entire report: Millennials Seek Smaller Houses, But Won’t Sacrifice Details, Panelists Say. First time homebuyers, Millennials in particular, were absent from the housing recovery. Millennials are expected to enter the housing market in larger numbers in 2015 and are expected to drive the building trend towards smaller housing. If you have been thinking about buying a home but have been waiting on the sidelines, you should purchase in 2015. Mortgage rates and home prices will be moving higher in 2015 and in the coming years. The same size home purchased later will cost you more as home prices and mortgage rates move higher. You probably have read recently how low current mortgage rates are but did you realize you can get a 5 year adjustable mortgage rate as low as 2.40 percent? Third Federal Savings & Loan mortgage rates on their 5 year adjustable loan rates are currently available at 2.99 percent with zero mortgage points. Take note, however, that there is some risk involved in getting an adjustable rate mortgage instead of a fixed rate mortgage – from any lender. With an adjustable rate, the interest rate changes after the initial fixed period. In this example, the mortgage product is a 5 year ARM, meaning that the rate is fixed for the first 5 years and then adjusts each year after. For the most part, there are annual caps and lifetime caps on how high the mortgage rate can increase. In this case, the interest rate is fixed at 2.99 percent for the first 5 years and then the rate can move higher based on where prevailing interest rates when the fixed period ends. In addition to a 5 year adjustable mortgage, Third Federal also offers 3/1 ARMs as well as fixed mortgages with terms of 10, 15 and 30 years. The bank also offers jumbo mortgage loans with adjustable terms of 3 years and 5 years. Third Federal Savings and Loan mortgages are not available in all states, only the states listed below. Third Federal Savings and Loan Mortgages are Available in these States California, Colorado, Connecticut, Florida, Georgia, Illinois, Indiana, Kentucky, Maryland, Massachusetts, Missouri, New Hampshire, New Jersey, New York, North Carolina, Ohio, Oregon, Pennsylvania, Tennessee, Virginia, Washington, and Washington, D.C. Third Federal Mortgage Loans Benefits
Besides mortgage loan products Third Federal also offers home equity products. The bank’s home equity loans have the following benefits.
Home equity loans are offered in the following 22 states. CA, CO, CT, DC, FL, GA, IL, IN, KY, MA, MD, MO, NH, NJ, NY, NC, OH, OR, PA, TN, VA, and WA
Plus:
Average mortgage rates today are slightly higher, driven higher by 10 year U.S. Treasury yields increasing 9 basis points in late afternoon trading. Where mortgage rates are next week will depend a lot on Friday’s job’s report. Expectations are for non farm payrolls to increase a an increase by a rather large amount of 260,000. The unemployment rate is expected to remain unchanged at 5.8 percent. If the jobs numbers come in close to forecasts we expect mortgage rates to decline slightly from current levels.Lower than expected numbers will also send average rates lower. The forecast is for 30 year conforming rates to drop below 4.00 percent again. If the number comes in stronger than expected average rates will increase. MonitorBankRates.com reports average 30 year mortgage rates are at 4.08 percent, up from last week’s average 30 year rate of 3.96 percent. Average mortgage rates in 2014 are nowhere near where forecasts were at the beginning of the year. Earlier this year, forecasts were for conventional 30 year mortgage rates to reach 5.00 percent. The closest 30 year rates came to 5.00 percent was at 4.53 percent back during the first week of January. 30 year rates will definitely not reach 5.00 percent this year and will probably remain near 4.00 percent. Average rates might reach 5.00 percent at the end of 2015, a full year later than originally predicted. One thing is for sure, rates will be moving higher in the coming years so don’t get too used to these low rates. If you’re thinking about buying a home now is probably one of the best times ever. Not only are mortgage rates low right now home prices are still a lower than they were at the height of the housing bubble. Home affordability is still high historically speaking. You can use Realtor.com’s Home Affordability Calculator to see how much house you can afford. Current mortgage rates on 15 year conforming loans are averaging 3.04 percent, up from last week’s average 15 year mortgage rate of 2.98 percent. We expect average 15 year mortgage rates to fall back below 3.00 percent on any jobs report that doesn’t show stronger than expected job growth. There are lenders quoting 15 year refinance rates below 3.00 percent if you’re willing to pay points on a loan to secure a lower rate. Today’s mortgage rates on 30 year jumbo loans are also higher averaging 4.15 percent, up from last week’s average 30 year jumbo rate of 4.09 percent. Jumbo mortgage rates will remain near current levels for the rest of 2014 and might actually fall back below 4.00 percent. Right now the best jumbo rates available from lenders are still under 4.00 percent if you’re willing to pay points to buy down the rate. 15 year jumbo mortgage rates are currently averaging 3.75 percent, an increase from the previous week’s average 15 year jumbo rate of 3.69 percent. Average 15 year jumbo rates will also remain near current levels for the rest of the year. Right now on the rate table the lowest 15 year jumbo refinance rates available are well below the average at 2.875 percent with 1 mortgage point.
The lowest mortgage rates in 60 years hasn’t helped re-vigor the housing market from the worst bust since the Great Depression. Since the housing bust, the Federal Reserve’s economic polices were designed to force mortgage rates down to record lows. The Fed has been successful at driving rates down, but one factor has kept a lid on a full housing recovery, lending standards. Prior to the housing bust, anyone and everyone was able to get a mortgage. The most outrageous loans given to people were “no doc” loans, one was able to get a mortgage without providing proof of your income. Thankfully those days are gone but now the pendulum has swung the other direction and only people with the best credit scores are able to get a loan. That is until recently. According to Ellie Mae Research, in July 2014, 67 percent of all mortgages applied for closed, meaning the loan was approved and given to the buyer. That is a large increase from January 2014, when the rate of mortgages that closed were at just 53 percent. Lenders relaxing lending standards will help the housing market and help one group in particular, first time home buyers. Late last month federal regulars dropped a requirement that borrowers make a 20% down payment in order to get a “high-quality” mortgage. Regulators voted to relax the standard after hearing warnings that such a requirement hinders the ability of millions of Americans to get a mortgage. Fannie and Freddie are also planning to guarantee some loans with down payments of as little as 3%. These new relaxed lending standards combined with current mortgage rates near record lows will help reinvigorate the housing market in 2015. Mortgage rates today on 30 year conforming loans are averaging 3.97 percent, about 0.50 percent higher from a record low set in 2013. There are many lenders quoting 30 year mortgage rates much lower than the average rate. The lowest 30 year refinance rates this week are quoted at 3.625 percent with 1 mortgage point. The lowest 30 year refi rate without points is also below the average at 3.75 percent. Current mortgage rates on 15 year conforming loans are averaging 3.11 percent, down from an average 15 year rate of 3.15 percent. You can easily find lenders quoting 15 year refinance rates below the average rate and below 3.00 percent. The lowest rate in our database for California are at 2.875 percent with 1 mortgage point and at 3.00 percent with no points. Today’s mortgage rates on 30 year jumbo loans are averaging 4.20 percent, a decline from the previous week’s average 30 year jumbo rate of 4.26 percent. The lowest 30 year jumbo refinance rates in the database for New Jersey are at 3.75 percent with 1 mortgage point and at 3.875 percent with no points. Average 15 year jumbo mortgage rates are currently at 3.74 percent, down from the prior week’s average 15 year rate of 3.77 percent. The best 15 year jumbo refinance rates quoted today in the rate table for Illinois are at 3.125 percent with 0.50 points and at 3.25 percent with zero points. 5 year adjustable mortgage rates on conforming loans are averaging 3.22 percent. Last week the average 5 year conforming ARM was at 3.31 percent. The lowest 5 year adjustable refinance rate available in the database for Florida is at 2.40 percent with 1 point and at 2.50 percent with no points. Jumbo adjustable mortgage rates on 5 year loans are averaging 3.47 percent, down from last week’s average 5 year jumbo rate of 3.54 percent. The best 5 year jumbo rate available today is at 2.50 percent with 2 mortgage points and at 2.75 percent with no points.
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RatesORama.com Average Mortgage Rates
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