Mortgage Rates Fall This Week as Sequestration Hits Today at Noon

Average mortgage rates fell this week as Boehner halts talks on cuts and Home Republicans rejoice on the news. The equities markets are expected to open lower today on the news but overall investors don't appear to be nervous about the pending cuts in government spending. Mortgage rates today on 30 year conforming loans are averaging 3.56 percent, a decline from last week's average 30 year mortgage rate of 3.69 percent.

Mortgage Rates Fall This Week as Sequestration Hits Today at NoonCurrent mortgage rates are lower this week as 10 year Treasury yields declined from just above 2.00 percent to 1.89 percent. The future direction of mortgage rates depends on how sequestration impacts the economy and the upcoming negotiations on funding the federal government for the next 12 months.

Loan Type
Purchase    Refinance
Location
State/City    Zip Code
Loan Amt Points FICO % Down
  
$
30 yr fixed refi in 23223, All points, Credit score: 740+     Sort by:
Lender
APR
Rate
Cost & Fees
Notes
 
30 yr fixed mtg refi Mortgage Loan from State Department Federal Credit Union
State Department Federal Credit Union
300000
Refinance
4.557
4.500
USD
State Department Federal Credit Union

4.557%
3/18/2019
4.500%
at 0.000 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $2,000
 
 
30 yr fixed mtg refi Mortgage Loan from LincolnWay Community Bank
LincolnWay Community Bank
300000
Refinance
4.280
4.250
USD
LincolnWay Community Bank

4.280%
3/19/2019
4.250%
at 0.000 pts
30 day lock rate
Est payment: $1,475.82
Fees in APR: $1,085
 
 
30 yr fixed mtg refi Mortgage Loan from Northwest Federal Credit Union
Northwest Federal Credit Union
300000
Refinance
4.326
4.250
USD
Northwest Federal Credit Union

4.326%
3/20/2019
4.250%
at 0.875 pts
45 day lock rate
Est payment: $1,475.82
Fees in APR: $79
 
 
30 yr fixed mtg refi Mortgage Loan from Bank of Oak Ridge
Bank of Oak Ridge
300000
Refinance
4.225
4.180
USD
Bank of Oak Ridge

4.225%
3/21/2019
4.180%
at 0.250 pts
60 day lock rate
Est payment: $1,463.55
Fees in APR: $853
 
 
30 yr fixed mtg refi Mortgage Loan from Santander Bank, N.A.
Santander Bank, N.A.
300000
Refinance
4.432
4.375
USD
Santander Bank, N.A.

4.432%
3/21/2019
4.375%
at 0.000 pts
60 day lock rate
Est payment: $1,497.86
Fees in APR: $2,004
 
 
30 yr fixed mtg refi Mortgage Loan from Raymond James Bank, NA
Raymond James Bank, NA
300000
Refinance
4.537
4.500
USD
Raymond James Bank, NA

4.537%
3/19/2019
4.500%
at 0.000 pts
45 day lock rate
Est payment: $1,520.06
Fees in APR: $1,299
 
 
30 yr fixed mtg refi Mortgage Loan from Virginia Credit Union
Virginia Credit Union
300000
Refinance
4.432
4.375
USD
Virginia Credit Union

4.432%
3/19/2019
4.375%
at 0.125 pts
45 day lock rate
Est payment: $1,497.86
Fees in APR: $1,650
 
 
30 yr fixed mtg refi Mortgage Loan from Bank of America
Bank of America
300000
Refinance
4.321
4.250
USD
Bank of America

4.321%
3/20/2019
4.250%
at 0.415 pts
60 day lock rate
Est payment: $1,475.82
Fees in APR: $1,289
 
 
30 yr fixed mtg refi Mortgage Loan from Apple Federal Credit Union
Apple Federal Credit Union
300000
Refinance
4.345
4.250
USD
Apple Federal Credit Union

4.345%
3/20/2019
4.250%
at 1.000 pts
60 day lock rate
Est payment: $1,475.82
Fees in APR: $352
 
 
30 yr fixed mtg refi Mortgage Loan from TD Bank, NA
TD Bank, NA
300000
Refinance
4.152
4.125
USD
TD Bank, NA

4.152%
3/15/2019
4.125%
at 0.000 pts
45 day lock rate
Est payment: $1,453.95
Fees in APR: $982
 
 
30 yr fixed mtg refi Mortgage Loan from Citizens Bank, NA
Citizens Bank, NA
300000
Refinance
4.551
4.500
USD
Citizens Bank, NA

4.551%
3/15/2019
4.500%
at 0.125 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $1,408
 
 
30 yr fixed mtg refi Mortgage Loan from Fulton Bank, NA
Fulton Bank, NA
300000
Refinance
4.550
4.500
USD
Fulton Bank, NA

4.550%
3/19/2019
4.500%
at 0.250 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $1,007
 
 

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.





A prolonged fight between Democrats and Republicans on the federal budget will cause a shutdown of the government which will take a bite out of GDP growth for 2013. I believe there will be big declines in stock prices and bond yields if the federal government is shut down, even if the shut down is only temporary.

Today's mortgage rates on 15 year conventional home loans are averaging 2.89 percent, down from last week's average 15 year mortgage interest rate of 2.98 percent. 15 year rates have been below 3.00 percent for all of 2012 and looks to remain under 3.00 percent for most of 2013. There are many loan lenders quoting 15 year refinance rates as low as 2.25 percent with points on our rate tables right now. These rates are quoted for those who have credit scores above 660.

Average 30 year jumbo mortgage rates today are at 4.04 percent, a decline from an average 30 year jumbo mortgage rate of 4.21 percent set last week. 30 year jumbo refinance rates can be found below the average and below 4.00 percent. The lowest 30 year jumbo refinance rates today on our rate table are at 3.75 percent with points.

Current 15 year jumbo mortgage rates are averaging 3.37 percent, a decline from last week's average 15 year jumbo rate of 3.52 percent. The lowest 15 year jumbo refinance rates in our rate database for the state of California are at 3.00 percent with points. On the East Coast in New Jersey the lowest 15 year jumbo refinancing rates are also at 3.00 percent with points.

Adjustable mortgage rates are also lower this week, average 5 year conventional adjustable mortgage rates are at 2.72 percent, down from last week's average 5 year adjustable rate of 2.81 percent. Average 5 year jumbo mortgage rates are at 2.90 percent, a decline from last week's average 5 year rate of 3.01 percent.
Author: Stacy Everest
March 1st, 2013