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Mortgage Rates Increase from 2014 Lows: 30 Year Mortgage Rates Today at 4.24%
 

Mortgage Rates Increase from 2014 Lows: 30 Year Mortgage Rates Today at 4.24%

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Mortgage interest rates hit 2014 lows last week and have moved slightly higher this week. A week ago, average 30 year mortgage rates hit a low of 4.07 percent. Rates increased because long term bond yields moved higher. 10 year bond yields rose 15 basis points the past 5 trading days, driving average 30 year mortgage rates up to 4.24 percent.

At the start of 2014 mortgage analysts predicted average 30 year mortgage rates would move just above 5.00 percent. The high point this year for 30 year rates was 4.53 percent during the first week of January. We don't anticipate average 30 year rates moving much higher or lower from current levels and rates certainty won't move towards 5.00 percent.

For the remainder of 2014 average 30 year rates will be range bound between 4.25 percent and 4.65 percent. There is more of a chance rates will fall towards 4.00 percent instead of moving up near 5.00 percent. Although rates have remained above 4.00 percent this entire year lenders have quoted rates below 4.00 percent all year long.

The lowest 30 year mortgage rates today quoted on our rate list are at 3.75 percent with 1 mortgage point. If you don't want to pay points on a loan we have a couple of lenders quoting 30 year rates at 3.875 percent without points. Feel free to use our rate tables to find the best mortgage interest rates in your state: Mortgage Rates Today. Best of all you don't have to provide any personal information or contact information to see a list of rates.

Listed below are average mortgage rates this week and the lowest mortgage rates available on our rate tables:

Average Mortgage Rates

  • 30 Year Conforming Mortgage Rate: 4.24%

  • 15 Year Conforming Mortgage Rate: 3.18%

  • 5/1 Conforming ARM: 3.32%

  • 30 Year Jumbo Mortgage Rate: 4.53%

  • 15 Year Jumbo Mortgage Rate: 3.77%


Lowest Mortgage Rates Available

  • 30 Year Conforming Refinance Rate: 3.75% with 1 point

  • 15 Year Conforming Refinance Rate: 2.875% with 1 points

  • 5/1 Conforming ARM: 2.375% with 2 points

  • 30 Year Jumbo Refinance Rate: 3.875% with 0.88 point

  • 15 Year Jumbo Refinance Rate: 3.25% with 1 point

  • 5/1 Jumbo Refinance Rate: 2.375% with 2 points


 

 
Author: Brian McKay
September 9th, 2014