Mortgage Rates Hit Another Low for 2017

Mortgage rates continued the relentless decline this week, hitting yet another new low for 2017. Back in January of this year, forecasts for average 30 year mortgage rates by this time were in the range of 4.75 percent. Average 30 year mortgage rates closed yesterday at 3.67 percent, more than 100 basis points lower than the forecast. 30 year rates are now only about 30 basis points above the all-time record low set in 2012.

15 year mortgage rates also fell this week, hitting a new low for 2017 and falling below 3.00 percent for the first time this year. Average 15 year mortgage rates are at 2.94 percent, down from last week's average rate of 3.01 percent. 15 year mortgage rates were forecast to be around 3.75 percent by the third quarter of 2017.

5 year adjustable mortgage rates were slightly higher this week, averaging 3.15 percent, up from last week's average rate of 3.14 percent. In the chart below, you can see the steady decline for mortgage rates this year.

30 year jumbo mortgage rates  declined this week to 4.20 percent, down from last week's average 30 year jumbo rate of 4.26 percent. Average 15 year jumbo rates fell to 3.83 percent, down from the prior week's average 15 year rate of 3.87 percent. 5 year jumbo adjustable rates are currently at 3.62 percent, up from last week's average of 3.60 percent.



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 Mortgage Loan from First Midwest Bank
First Midwest Bank
https://www.brimg.net/system/img/inst/10612_logo.gif
300000
Refinance
3.812
3.750
USD
First Midwest Bank Logo
at 0.750 pts
60 day lock rate
Est payment: $1,389.35
Fees in APR: None
 
 
Next button
30 yr fixed Mortgage Loan from First Midwest Bank
First Midwest Bank
https://www.brimg.net/system/img/inst/10612_logo.gif
300000
Refinance
3.875
3.875
USD
First Midwest Bank Logo
at 0.000 pts
60 day lock rate
Est payment: $1,410.71
Fees in APR: None
 
 
Next button
30 yr fixed Mortgage Loan from First Midwest Bank
First Midwest Bank
https://www.brimg.net/system/img/inst/10612_logo.gif
300000
Refinance
3.727
3.625
USD
First Midwest Bank Logo
at 1.250 pts
60 day lock rate
Est payment: $1,368.15
Fees in APR: None
 
 
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30 yr fixed mtg refi Mortgage Loan from Apple Federal Credit Union
Apple Federal Credit Union
300000
Refinance
4.219
4.125
USD
Apple Federal Credit Union

4.219%
5/22/2019
4.125%
at 1.000 pts
60 day lock rate
Est payment: $1,453.95
Fees in APR: $352
 
 
30 yr fixed mtg refi Mortgage Loan from Fulton Bank, NA
Fulton Bank, NA
300000
Refinance
4.403
4.375
USD
Fulton Bank, NA

4.403%
5/21/2019
4.375%
at 0.000 pts
60 day lock rate
Est payment: $1,497.86
Fees in APR: $1,007
 
 
30 yr fixed mtg refi Mortgage Loan from Virginia Credit Union
Virginia Credit Union
300000
Refinance
4.213
4.125
USD
Virginia Credit Union

4.213%
5/21/2019
4.125%
at 0.500 pts
45 day lock rate
Est payment: $1,453.95
Fees in APR: $1,650
 
 
30 yr fixed mtg refi Mortgage Loan from Bank of America
Bank of America
300000
Refinance
4.103
4.000
USD
Bank of America

4.103%
5/22/2019
4.000%
at 0.798 pts
60 day lock rate
Est payment: $1,432.25
Fees in APR: $1,289
 
 
30 yr fixed mtg refi Mortgage Loan from Citizens Bank, NA
Citizens Bank, NA
300000
Refinance
4.427
4.375
USD
Citizens Bank, NA

4.427%
5/24/2019
4.375%
at 0.125 pts
60 day lock rate
Est payment: $1,497.86
Fees in APR: $1,466
 
 
30 yr fixed mtg refi Mortgage Loan from State Department Federal Credit Union
State Department Federal Credit Union
300000
Refinance
4.306
4.250
USD
State Department Federal Credit Union

4.306%
5/20/2019
4.250%
at 0.000 pts
60 day lock rate
Est payment: $1,475.82
Fees in APR: $2,000
 
 
30 yr fixed mtg refi Mortgage Loan from LincolnWay Community Bank
LincolnWay Community Bank
300000
Refinance
4.030
4.000
USD
LincolnWay Community Bank

4.030%
5/21/2019
4.000%
at 0.000 pts
30 day lock rate
Est payment: $1,432.25
Fees in APR: $1,085
 
 
30 yr fixed mtg refi Mortgage Loan from Northwest Federal Credit Union
Northwest Federal Credit Union
300000
Refinance
4.169
4.125
USD
Northwest Federal Credit Union

4.169%
5/22/2019
4.125%
at 0.500 pts
45 day lock rate
Est payment: $1,453.95
Fees in APR: $79
 
 
30 yr fixed mtg refi Mortgage Loan from Bank of Oak Ridge
Bank of Oak Ridge
300000
Refinance
4.295
4.250
USD
Bank of Oak Ridge

4.295%
5/23/2019
4.250%
at 0.250 pts
60 day lock rate
Est payment: $1,475.82
Fees in APR: $853
 
 
30 yr fixed mtg refi Mortgage Loan from Santander Bank, N.A.
Santander Bank, N.A.
300000
Refinance
4.306
4.250
USD
Santander Bank, N.A.

4.306%
5/23/2019
4.250%
at 0.000 pts
60 day lock rate
Est payment: $1,475.82
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%
5/21/2019
4.500%
at 0.000 pts
45 day lock rate
Est payment: $1,520.06
Fees in APR: $1,299
 
 

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.




Author: Brian McKay
September 21st, 2017