30 Year Mortgage Rates Today Fall to 4.15 Percent

The downtrend continues for 30 year conforming mortgage rates this week. 30 year mortgage rates today are averaging 4.15 percent, down from last week's average of 4.17 percent. Thusfar, mortgage rates have fallen in 2014, which is the opposite of analysts' predictions. Analysts believed mortgage rates would move higher once the Federal Reserve started winding down their monthly asset purchases.

The Fed had been buying mortgage backed securities and long term Treasuries to force interest rates down. The Fed's policy was very effective at lowering mortgage rates and long term bond yields. In the spring of 2013, 10 year bond yields fell to 1.60 percent and 30 year conforming mortgage rates fell to 3.27 percent, both record lows.

Loan Type
Purchase    Refinance
Location
State/City    Zip Code
Loan Amt Points FICO % Down
  
$
in 23223, All points, 740    Sort by:
Lender
APR
Rate
Cost & Fees
Notes
 
PERIOD_FIXED_30YEARS Mortgage Loan from Quicken Loans NMLS #3030
Quicken Loans NMLS #3030
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111724.gif
300000
Purchase
3.660%
3.500%
USD
Quicken Loans NMLS #3030 Logo
NMLS # 3030
08/18/2019
at 2.000 pts
45 day lock rate
Est payment: $1,348
Fees in APR: $6,000
The Better Business Bureau gives Quicken Loans and A+ for customer service.
 
PERIOD_FIXED_30YEARS Mortgage Loan from Quicken Loans NMLS #3030
Quicken Loans NMLS #3030
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111724.gif
300000
Purchase
4.073%
3.990%
USD
Quicken Loans NMLS #3030 Logo
NMLS # 3030
08/18/2019
at 1.000 pts
45 day lock rate
Est payment: $1,431
Fees in APR: $3,000
The Better Business Bureau gives Quicken Loans and A+ for customer service.
 
PERIOD_FIXED_30YEARS Mortgage Loan from Quicken Loans NMLS #3030
Quicken Loans NMLS #3030
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111724.gif
300000
Purchase
4.500%
4.500%
USD
Quicken Loans NMLS #3030 Logo
NMLS # 3030
08/18/2019
at 0.000 pts
45 day lock rate
Est payment: $1,521
Fees in APR: None
The Better Business Bureau gives Quicken Loans and A+ for customer service.
 
PERIOD_FIXED_30YEARS Mortgage Loan from AimLoan.com
AimLoan.com
https:https://mortgagerates.icanbuy.com/images/lenderslogos/112335.gif
300000
Purchase
3.353%
3.250%
USD
AimLoan.com Logo
NMLS # 2890
State Lic # MC-3098
08/18/2019
at 1.250 pts
30 day lock rate
Est payment: $1,306
Fees in APR: $3,903
Internet direct lender since 1998. View rates & fees, apply/lock online 24/7
 
PERIOD_FIXED_30YEARS Mortgage Loan from Quicken Loans NMLS #3030
Quicken Loans NMLS #3030
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111724.gif
300000
Purchase
3.660%
3.500%
USD
Quicken Loans NMLS #3030 Logo
NMLS # 3030
08/18/2019
at 2.000 pts
45 day lock rate
Est payment: $1,348
Fees in APR: $6,000
The Better Business Bureau gives Quicken Loans and A+ for customer service.
 
PERIOD_FIXED_30YEARS Mortgage Loan from Quicken Loans NMLS #3030
Quicken Loans NMLS #3030
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111724.gif
300000
Purchase
4.073%
3.990%
USD
Quicken Loans NMLS #3030 Logo
NMLS # 3030
08/18/2019
at 1.000 pts
45 day lock rate
Est payment: $1,431
Fees in APR: $3,000
The Better Business Bureau gives Quicken Loans and A+ for customer service.
 
PERIOD_FIXED_30YEARS Mortgage Loan from AimLoan.com
AimLoan.com
https:https://mortgagerates.icanbuy.com/images/lenderslogos/112335.gif
300000
Purchase
3.281%
3.125%
USD
AimLoan.com Logo
NMLS # 2890
State Lic # MC-3098
08/18/2019
at 2.000 pts
30 day lock rate
Est payment: $1,286
Fees in APR: $5,961
Internet direct lender since 1998. View rates & fees, apply/lock online 24/7
 
PERIOD_FIXED_30YEARS Mortgage Loan from AimLoan.com
AimLoan.com
https:https://mortgagerates.icanbuy.com/images/lenderslogos/112335.gif
300000
Purchase
3.524%
3.500%
USD
AimLoan.com Logo
NMLS # 2890
State Lic # MC-3098
08/18/2019
at 0.250 pts
30 day lock rate
Est payment: $1,348
Fees in APR: $903
Internet direct lender since 1998. View rates & fees, apply/lock online 24/7
 
PERIOD_FIXED_30YEARS Mortgage Loan from AimLoan.com
AimLoan.com
https:https://mortgagerates.icanbuy.com/images/lenderslogos/112335.gif
300000
Purchase
3.750%
3.750%
USD
AimLoan.com Logo
NMLS # 2890
State Lic # MC-3098
08/18/2019
at 0.000 pts
30 day lock rate
Est payment: $1,390
Fees in APR: ($153)
Internet direct lender since 1998. View rates & fees, apply/lock online 24/7
 
PERIOD_FIXED_30YEARS Mortgage Loan from Quicken Loans NMLS #3030
Quicken Loans NMLS #3030
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111724.gif
300000
Purchase
4.500%
4.500%
USD
Quicken Loans NMLS #3030 Logo
NMLS # 3030
08/18/2019
at 0.000 pts
45 day lock rate
Est payment: $1,521
Fees in APR: None
The Better Business Bureau gives Quicken Loans and A+ for customer service.
 
PERIOD_FIXED_30YEARS Mortgage Loan from AimLoan.com
AimLoan.com
https:https://mortgagerates.icanbuy.com/images/lenderslogos/112335.gif
300000
Purchase
3.430%
3.375%
USD
AimLoan.com Logo
NMLS # 2890
State Lic # MC-3098
08/18/2019
at 0.750 pts
30 day lock rate
Est payment: $1,327
Fees in APR: $2,085
Internet direct lender since 1998. View rates & fees, apply/lock online 24/7
 

Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click here for more information on rates and product details.





Some had made the forecast that average 30 year conforming rate should have fallen even lower. Two economists, Andreas Fuster and David Lucca, wrote an interesting piece asking why 30 year rates didn't fall as low as 2.60 percent. Why Isn’t the Thirty-Year Fixed-Rate Mortgage at 2.6 Percent?

The downtrend for mortgage rates won't last much longer. Economic headwinds are getting stronger, which will lower the unemployment rate and increase the inflation rate. 30 year conforming rates are forecast to head towards 5.00 percent by the end of 2014 and to be above 5.00 percent in 2015.

Current mortgage rates on 15 year conforming loans are also lower this week, averaging 3.17 percent, down from the prior week's average 15 year mortgage rate of 3.21 percent. Average 15 year conventional rates are forecast to head towards 4.00 percent by the end of this year and above 4.00 percent next year.

30 year jumbo mortgage rates are averaging 4.50 percent, down slightly from last week's average 30 year jumbo mortgage rate of 4.51 percent. 30 year jumbo refinance rates will be above 5.00 percent by the end of 2014 and above 5.00 percent next year. The lowest 30 year jumbo rates currently available from lenders are still around 4.00 percent.

Today's mortgage rates on 15 year jumbo mortgage loans are back above 4.00 percent. The current average 15 year jumbo mortgage rate is at 4.03 percent, up from last week's average rate of 3.98 percent.
Author: Brian McKay
June 4th, 2014