Mortgage Rates Move Higher This Week

Mortgage rates moved higher this week, following 10 year bond yields higher as a result of a strong July employment report. Last Friday, July's Nonfarm Payroll numbers showed 255,000 jobs were created in July, 75,000 more jobs than were expected. 

10 year bond yields shot back above 1.50 percent on the strong report and went as high as 1.60 percent. Last Friday, 30 year conforming mortgage rates were averaging 3.38 percent. Today 30 year conforming rates are higher, averaging 3.56 percent.

Even with the 18 basis point increase, average 30 rates are not much higher than the all-time low of 3.31 percent set late in 2012. Right now, there are a few lenders on our mortgage rates list quoting 30 year refinance rates below the all-time low of 3.31 percent.

The lowest 30 year refinance rate on our rate list for California is quoted at 3.125 percent with 1 mortgage point from HomePlus. The lowest 30 year rate without points on our rate list is also from HomePlus at 3.375 percent, just above the all-time record low of 3.31 percent.

15 year mortgage rates today are currently averaging 2.69 percent, up from the previous week's average 15 year rate of 2.66 percent. Checking on our 15 year rate list for California, HomePlus is also offering the lowest 15 year refinance rates at 2.375 percent with 1 mortgage point. The lowest 15 year rate without points is also from HomePlus at 2.625 percent.

30 year jumbo mortgage rates are currently averaging 3.86 percent, up 5 basis points from last week's average rate of 3.81 percent. The best 30 year jumbo refinance rates on our rate list for Colorado are much lower at 3.25 percent with 1 mortgage point from Sebonic Financial. The lowest 30 year jumbo rate without points is from Regent Bank at 3.75 percent.

15 year jumbo mortgage rates are averaging 3.36 percent, an increase from last week's average 15 year jumbo rate of 3.29 percent. The best 15 year jumbo mortgage rates on our rate list for New York are currently at 2.625 percent with no points from Teachers Federal Credit Union.

You can search for and compare mortgage rates in your state from many lenders by searching our rate lists at MortgageRates.RatesORama.com.



Loan Type
Purchase    Refinance
Location
State/City    Zip Code
Loan Amt Points FICO % Down
  
$
in 06101, All points, 740    Sort by:
Lender
APR
Rate
Cost & Fees
Notes
 
PERIOD_FIXED_30YEARS Mortgage Loan from AmeriSave Mortgage Corporation
AmeriSave Mortgage Corporation
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111333.gif
300000
Purchase
2.503%
2.500%
USD
AmeriSave Mortgage Corporation Logo
NMLS # 1168
State Lic # 11309
01/28/2021
at 0.000 pts
30 day lock rate
Est payment: $1,186
Fees in APR: $117
Direct Lender. Billions Funded.
 
PERIOD_FIXED_30YEARS Mortgage Loan from AmeriSave Mortgage Corporation
AmeriSave Mortgage Corporation
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111333.gif
300000
Purchase
2.369%
2.250%
USD
AmeriSave Mortgage Corporation Logo
NMLS # 1168
State Lic # 11309
01/28/2021
at 1.625 pts
30 day lock rate
Est payment: $1,147
Fees in APR: $4,794
Direct Lender. Billions Funded.
 
PERIOD_FIXED_30YEARS Mortgage Loan from AmeriSave Mortgage Corporation
AmeriSave Mortgage Corporation
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111333.gif
300000
Purchase
2.442%
2.375%
USD
AmeriSave Mortgage Corporation Logo
NMLS # 1168
State Lic # 11309
01/28/2021
at 0.875 pts
30 day lock rate
Est payment: $1,166
Fees in APR: $2,664
Direct Lender. Billions Funded.
 
PERIOD_FIXED_30YEARS Mortgage Loan from AmeriSave Mortgage Corporation
AmeriSave Mortgage Corporation
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111333.gif
300000
Purchase
2.319%
2.125%
USD
AmeriSave Mortgage Corporation Logo
NMLS # 1168
State Lic # 11309
01/28/2021
at 2.625 pts
30 day lock rate
Est payment: $1,128
Fees in APR: $7,872
Direct Lender. Billions Funded.
 
PERIOD_FIXED_30YEARS Mortgage Loan from AmeriSave Mortgage Corporation
AmeriSave Mortgage Corporation
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111333.gif
300000
Purchase
2.369%
2.250%
USD
AmeriSave Mortgage Corporation Logo
NMLS # 1168
State Lic # 11309
01/28/2021
at 1.625 pts
30 day lock rate
Est payment: $1,147
Fees in APR: $4,794
Direct Lender. Billions Funded.
 
PERIOD_FIXED_30YEARS Mortgage Loan from AmeriSave Mortgage Corporation
AmeriSave Mortgage Corporation
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111333.gif
300000
Purchase
2.503%
2.500%
USD
AmeriSave Mortgage Corporation Logo
NMLS # 1168
State Lic # 11309
01/28/2021
at 0.000 pts
30 day lock rate
Est payment: $1,186
Fees in APR: $117
Direct Lender. Billions Funded.
 
PERIOD_FIXED_30YEARS Mortgage Loan from AmeriSave Mortgage Corporation
AmeriSave Mortgage Corporation
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111333.gif
300000
Purchase
2.442%
2.375%
USD
AmeriSave Mortgage Corporation Logo
NMLS # 1168
State Lic # 11309
01/28/2021
at 0.875 pts
30 day lock rate
Est payment: $1,166
Fees in APR: $2,664
Direct Lender. Billions Funded.
 
Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Click here for more information on rates and product details.



Author: Brian McKay
August 9th, 2016