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Best 30 Year Mortgage Rates Today at 3.625 Percent With Points

Best 30 Year Mortgage Rates Today at 3.625 Percent With 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.

Author: Brian McKay
December 1st, 2013