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Higher Mortgage Rates Don't Dampen Demand for Home Loans: Today's 30 Year Refinance Rates at 3.48 Percent - CD Rates - Search for CD Rates Today

Higher Mortgage Rates Don’t Dampen Demand for Home Loans: Today’s 30 Year Refinance Rates at 3.48 Percent

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Higher mortgage rates this past couple of weeks hasn't dampened demand for home loans as home-buyers return to the market. Over the past several years mortgage rates have fallen to record lows thanks to a slow economy and the Federal Reserve's policies to drive rates lower. Today's refinance rates on 30 year conforming loans are averaging 3.48 percent but are expected to move lower in the month of February.

In the mortgage rates survey for the week ending January 24, 2013, released by Freddie Mac, fixed conforming 30 year mortgage rates averaged 3.42 percent with 0.7 point. The average 30 year mortgage rate is up from the prior week's average rate of 3.38 percent.

There are many lenders out there quoting mortgage rates today on 30 year conforming loans below the average rates. On our Florida mortgage refinance rates list the lowest rates quoted right now are from Aimloan.com at 2.875 percent with 1.734 mortgage points. The lowest Florida refinance rates without points o our list are also from Aimloan at 3.125 percent.

Conventional 15 year mortgage rates were also higher in Freddie Mac's survey for the week ending January 24, 2013. The average 15 year mortgage rate was at 2.71 percent with 0.7 point. In the prior week's survey 15 year rates averaged 2.66 percent with 0.7 point. There are many lenders offering 15 year mortgage refinance rates well below the average with points and without points.

The lowest 15 year California mortgage rates in our database are at 2.25 percent with 1.097 mortgage discount points. If you don't want to pay points on a home loan the lowest California rate we have without points is also at 2.25 percent. You can find 15 year refinancing rates in our database as low as 2.25 percent in most other states.

Average adjustable mortgage interest rates were unchanged in this week's mortgage rate survey. Average 5 year adjustable mortgage rates were at 2.67 percent with 0.5 mortgage points. Average 1 year adjustable mortgage interest rates were at 2.57 percent with 0.5 points.

If you're thinking about getting a 5 year adjustable loan we have lenders offering rates well below the average of 2.67 percent. Current mortgage rates on 5 year loans in the state of Texas can be found as low as 1.50 percent! Wow, can you believe that incredibly low rate? Amerisave is offering 5 year adjustable refinance rates at 1.50 percent with 1.865 points. The lowest Texas refinance rates without points are also from Amerisave at 2.125 percent.

Author: Monica Harris
January 25th, 2013