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Current Mortgage Rates Hit New Lows Says Freddie: 30 Year Mortgage Rates 3.34%, Lowest 30 Year Rates Available at 2.875%
 

Current Mortgage Rates Hit New Lows Says Freddie: 30 Year Mortgage Rates 3.34%, Lowest 30 Year Rates Available at 2.875%

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Fixed conventional mortgage rates are lower in this week's mortgage survey. Average 30 year mortgage rates hit a new all-time low of 3.34 percent in Freddie Mac's Primary Mortgage Market Survey for the week ending November 15, 2012. Average 30 year mortgage rates are down from last week's average of 3.40 percent. There are many lenders quoting 30 year mortgage refinance rates well below the average of 3.34 percent, in fact we have some lenders listed on our rate tables offering 30 year conforming rates below 3.00!

If you live in the state of New Jersey and you are comparing 30 year refinance rates we have Amerisave quoting 30 year refinance rates at 2.875 percent with 1.869 points. Other lender's refinance rates on our list for NJ include Total Mortgage, Residential Finance Corporation and Mortgage Capital Associates, all with 30 year refinancing rates at 3.00 percent with 2 points. New Penn Financial is also quoting 30 year refi rates at 3.00 percent but with only 1 mortgage point.

If you'd rather not pay points on a 30 year loan,  Amerisave and America Lending are both offering 30 year rates at 3.125 percent with zero points in NJ. Many of these lenders are also offering 30 year mortgage refinance rates just as low as these rates in other states. Feel free to search and compare rates using our rate lists in for your state.

Average conforming 15 year mortgage interest rates also hit a new record low in Freddie Mac's survey for the week ending November 15, 2012. Average 15 year mortgage rates were at 2.65 percent with 0.7 mortgage points, a decline from the previous week's average 15 mortgage rate of 2.69 percent.

As with 30 year rates, you can find lenders quoting mortgage rates on 15 year conforming loans that are below the average of 2.65 percent. The lowest 15 year refinance mortgage rates on our Texas rate list are from Aimloan.com at 2.25 percent with 0.98 mortgage points. Other lenders quoting 15 year rates well below the average in the state of Texas include Amerisave quoting rates at 2.375 percent with 1.49 points and Home loan Enterprise at 2.375 percent with 0.50 points. We have many more lenders listed on our 15 year rate tables in all states to help you get the lowest rates.

Current mortgage rates on 5 year conforming adjustable loans were higher in this week's mortgage rate survey. The average 5 year adjustable mortgage rate increased to 2.74 percent with 0.6 mortgage points, up from the prior week's average 5 year rate of 2.73 percent. Today's mortgage rates on 5 year adjustable loans can be found well below Freddie Mac's average rate.

Mortgage rates today on 5 year conforming loans in California are as low as 1.75 percent. Two lenders are offering 5 year adjustable refinance rates today on our tables in California, Roundpoint Mortgage Company at 1.75 percent with 2 mortgage points and Aimloan.com also at 1.75 percent but with only 1.195 mortgage points.

Author: James Martin
November 16th, 2012