Mortgage Rates Decline as 10 Year Bond Yields Fall Below 2.50 Percent

Mortgage rates and 10 year bond yields have fallen to new lows in 2014, just the opposite of what analysts expected to happen this year. The general consensus was that both bond yields and mortgage rates would move higher as the Federal Reserve tapered their monthly bond and mortgage backed security purchases. The Fed has already reduced their monthly purchases from $85 billion a month down to $45 billion a month in 2014.

During the first five months of 2014, average 30 year mortgage rates have fallen from 4.65 percent down to today's average rate of 4.17 percent. 10 year bond yields have fallen in 2014 from just over 3.00 percent down to today's yield of 2.47 percent. Average 30 year mortgage rates were forecasted to move towards 5.00 percent in 2014 but analysts are likely to be revising those estimates.

Loan Type
Purchase    Refinance
Location
State/City    Zip Code
Loan Amt Points FICO % Down
  
$
30 yr fixed refi in 06101, All points, Credit score: 740+     Sort by:
Lender
APR
Rate
Cost & Fees
Notes
 
30 yr fixed Mortgage Loan from Ally Bank
Ally Bank
https://www.brimg.net/system/img/inst/10271_logo.gif
300000
Refinance
4.325
4.250
USD
Ally Bank Logo
at 0.100 pts
45 day lock rate
Est payment: $1,475.82
Fees in APR: $2,358
Thanks for the inquiry! 
 
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30 yr fixed Mortgage Loan from American Federal Mortgage Corporation
American Federal Mortgage Corporation
https://www.brimg.net/system/img/inst/10317_logo.gif
300000
Refinance
3.944
3.875
USD
American Federal Mortgage Corporation Logo
at 0.100 pts
30 day lock rate
Est payment: $1,410.71
Fees in APR: $2,208
Thanks for the inquiry! 
 
Next button
30 yr fixed Mortgage Loan from Sebonic Financial
Sebonic Financial
https://www.brimg.net/system/img/inst/8420_logo.gif
300000
Refinance
4.101
3.990
USD
Sebonic Financial Logo
at 0.100 pts
30 day lock rate
Est payment: $1,430.52
Fees in APR: $3,671
Thank you for your inquiry, we will be in touch shortly. 
 
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30 yr fixed Mortgage Loan from HomeDirect Mortgage
HomeDirect Mortgage
https://www.brimg.net/system/img/inst/10447_logo.gif
300000
Refinance
4.293
4.125
USD
HomeDirect Mortgage Logo
at 1.000 pts
30 day lock rate
Est payment: $1,453.95
Fees in APR: $2,964
 
 
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30 yr fixed Mortgage Loan from Ally Bank
Ally Bank
https://www.brimg.net/system/img/inst/10271_logo.gif
300000
Refinance
4.404
4.375
USD
Ally Bank Logo
at 0.000 pts
45 day lock rate
Est payment: $1,497.86
Fees in APR: $1,039
Thanks for the inquiry! 
 
Next button
30 yr fixed Mortgage Loan from Sebonic Financial
Sebonic Financial
https://www.brimg.net/system/img/inst/8420_logo.gif
300000
Refinance
4.247
4.240
USD
Sebonic Financial Logo
at 0.000 pts
30 day lock rate
Est payment: $1,474.06
Fees in APR: $242
Thank you for your inquiry, we will be in touch shortly. 
 
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30 yr fixed Mortgage Loan from HomeDirect Mortgage
HomeDirect Mortgage
https://www.brimg.net/system/img/inst/10447_logo.gif
300000
Refinance
4.250
4.250
USD
HomeDirect Mortgage Logo
at 0.000 pts
30 day lock rate
Est payment: $1,475.82
Fees in APR: None
 
 
Next button
30 yr fixed Mortgage Loan from American Federal Mortgage Corporation
American Federal Mortgage Corporation
https://www.brimg.net/system/img/inst/10317_logo.gif
300000
Refinance
4.000
4.000
USD
American Federal Mortgage Corporation Logo
at 0.000 pts
30 day lock rate
Est payment: $1,432.25
Fees in APR: None
Thanks for the inquiry! 
 
Next button
30 yr fixed Mortgage Loan from Sebonic Financial
Sebonic Financial
https://www.brimg.net/system/img/inst/8420_logo.gif
300000
Refinance
3.935
3.740
USD
Sebonic Financial Logo
at 1.100 pts
30 day lock rate
Est payment: $1,387.65
Fees in APR: $3,755
Thank you for your inquiry, we will be in touch shortly. 
 
Next button
30 yr fixed Mortgage Loan from American Federal Mortgage Corporation
American Federal Mortgage Corporation
https://www.brimg.net/system/img/inst/10317_logo.gif
300000
Refinance
3.852
3.750
USD
American Federal Mortgage Corporation Logo
at 1.100 pts
30 day lock rate
Est payment: $1,389.35
Fees in APR: $420
Thanks for the inquiry! 
 
Next button
30 yr fixed mtg refi Mortgage Loan from The Washington Trust Company
The Washington Trust Company
300000
Refinance
4.155
4.125
USD
The Washington Trust Company

4.155%
4/16/2019
4.125%
at 0.000 pts
30 day lock rate
Est payment: $1,453.95
Fees in APR: $1,083
 
 
30 yr fixed mtg refi Mortgage Loan from Santander Bank, N.A.
Santander Bank, N.A.
300000
Refinance
4.557
4.500
USD
Santander Bank, N.A.

4.557%
4/19/2019
4.500%
at 0.000 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $2,004
 
 
30 yr fixed mtg refi Mortgage Loan from First National Bank of Omaha
First National Bank of Omaha
300000
Refinance
4.575
4.500
USD
First National Bank of Omaha

4.575%
4/19/2019
4.500%
at 0.625 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $752
 
 
30 yr fixed mtg refi Mortgage Loan from Citizens Bank, NA
Citizens Bank, NA
300000
Refinance
4.403
4.375
USD
Citizens Bank, NA

4.403%
4/19/2019
4.375%
at 0.000 pts
60 day lock rate
Est payment: $1,497.86
Fees in APR: $998
 
 
30 yr fixed mtg refi Mortgage Loan from Bank of America
Bank of America
300000
Refinance
4.365
4.250
USD
Bank of America

4.365%
4/15/2019
4.250%
at 0.903 pts
60 day lock rate
Est payment: $1,475.82
Fees in APR: $1,351
 
 
30 yr fixed mtg refi Mortgage Loan from TD Bank, NA
TD Bank, NA
300000
Refinance
4.154
4.125
USD
TD Bank, NA

4.154%
4/16/2019
4.125%
at 0.000 pts
45 day lock rate
Est payment: $1,453.95
Fees in APR: $1,043
 
 
30 yr fixed mtg refi Mortgage Loan from United Bank
United Bank
300000
Refinance
4.276
4.250
USD
United Bank

4.276%
4/16/2019
4.250%
at 0.000 pts
30 day lock rate
Est payment: $1,475.82
Fees in APR: $911
 
 
30 yr fixed mtg refi Mortgage Loan from The Guilford Savings Bank
The Guilford Savings Bank
300000
Refinance
4.291
4.250
USD
The Guilford Savings Bank

4.291%
4/19/2019
4.250%
at 0.250 pts
60 day lock rate
Est payment: $1,475.82
Fees in APR: $719
 
 
30 yr fixed mtg refi Mortgage Loan from Union Savings Bank
Union Savings Bank
300000
Refinance
4.399
4.375
USD
Union Savings Bank

4.399%
4/12/2019
4.375%
at 0.000 pts
60 day lock rate
Est payment: $1,497.86
Fees in APR: $852
 
 
30 yr fixed mtg refi Mortgage Loan from UniBank for Savings
UniBank for Savings
300000
Refinance
4.536
4.500
USD
UniBank for Savings

4.536%
4/19/2019
4.500%
at 0.250 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $500
 
 
30 yr fixed mtg refi Mortgage Loan from Liberty Bank
Liberty Bank
300000
Refinance
4.169
4.125
USD
Liberty Bank

4.169%
4/19/2019
4.125%
at 0.250 pts
60 day lock rate
Est payment: $1,453.95
Fees in APR: $814
 
 
30 yr fixed mtg refi Mortgage Loan from LincolnWay Community Bank
LincolnWay Community Bank
300000
Refinance
4.155
4.125
USD
LincolnWay Community Bank

4.155%
4/16/2019
4.125%
at 0.000 pts
30 day lock rate
Est payment: $1,453.95
Fees in APR: $1,085
 
 
30 yr fixed mtg refi Mortgage Loan from Savings Bank of Danbury
Savings Bank of Danbury
300000
Refinance
4.397
4.375
USD
Savings Bank of Danbury

4.397%
4/19/2019
4.375%
at 0.000 pts
60 day lock rate
Est payment: $1,497.86
Fees in APR: $790
 
 

Mortage Data Provided by Bankrate.com Many lenders have different rates on their own Websites than those posted on Bankrate.com. In order to get the Bankrate.com rate, please identify yourself as a Bankrate.com customer. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the lender you choose, please click here.

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.





Average 30 year rates will probably top out in a range of 4.50 percent to 4.75 percent in 2014. We probably won't see 30 year rates above 5.00 percent until 2015. The best 30 year mortgage rates today can be found well below the average rate and below 4.00 percent.

The best 30 year rates lenders quoted for the state of North Carolina are offered at 3.75 percent with about 1 mortgage point. The lowest 30 year rates quoted by lenders in NC without points are also below 4.00 percent at 3.875 percent.

Mortgage rates today on 15 year conventional home loans are averaging 3.21 percent, down from last week's average 15 year mortgage rate of 3.25 percent. 15 year rates have fallen from a high of 3.57 percent this year, down to the current rate of 3.21 percent. By the end of this week average rates will probably move down towards 3.15 percent.

The lowest 15 year mortgage refinance rates offered by lenders are well below the average rate. Checking on 15 year refinance rates for the state of Pennsylvania, we see the best rates are at 2.625 percent with 1.10 mortgage points. The best 15 year rates without points are also below the average at 2.875 percent.

Current mortgage rates on 30 year jumbo loans are averaging 4.51 percent, down from an average 30 year rate of 4.63 percent. 30 year jumbo rates were just over 5.00 percent early in January but will fall through 4.51 percent this week. The lowest 30 year jumbo rates are well below the average.

Looking for rates in the state of California, we see lenders quoting jumbo rates as low as 3.75 percent with 1.10 mortgage points. The lowest 30 year jumbo refinance rates without points are still below 4.00 percent at 3.875 percent.

Today's mortgage rates on 15 year jumbo loans have fallen through 4.00 percent. This is the first time rates are below 4.00 percent in 2014. Current 15 year rates are averaging 3.98 percent, down from the previous week's average rate of 4.04 percent.

The best 15 year jumbo mortgage interest rates quoted by lenders in the state of New Jersey are below the average at 2.625 percent with 1.10 points. The best 15 year rates without points also below 3.00 percent are at 2.875 percent.
Author: Brian McKay
May 28th, 2014