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Mortgage Rates Turn Sharply Higher This WeekMortgage rates moved considerably higher this week, after hovering just above record lows the past couple of weeks. Average 30 year conforming mortgage rates increased 12 basis points this week from 3.36 percent to 3.48 percent. Despite the recent increase, 30 year rates are only 17 basis points higher than the record low set in the 4th quarter of 2012. The future trend for mortgage rates will be higher in the coming months and years. The first catalyst for higher rates will be the Federal Open Market Committee's December meeting. The FOMC is predicted to increase the fed funds in December and the increase is widely expected to be 25 basis points. The fed funds rate increase will likely only have a slight impact on mortgage rates. Any increases in mortgage rates will happen before the meeting because markets will drive 10 year rates higher in anticipation of a rate increase. Regardless, the future trend for higher mortgage rates will start in December. Fixed mortgage rates and long term bond yields trend higher together because most lenders set fixed mortgage rates based on long term U.S. Treasury yields. Current Mortgage Rates
To see a list of today's mortgage rates search our rate lists at MortgageRates.RatesORama.com.
Lender
APR
Rate
Cost & Fees
Notes
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Bank of America 4.609%
12/12/2018
4.500%
at 0.842 pts
60 day lock rate Est payment: $1,520.06
Fees in APR: $1,289
Citizens Bank, NA 4.927%
12/7/2018
4.875%
at 0.125 pts
60 day lock rate Est payment: $1,587.62
Fees in APR: $1,408
TD Bank, NA 4.778%
12/7/2018
4.750%
at 0.000 pts
45 day lock rate Est payment: $1,564.94
Fees in APR: $982
Virginia Credit Union 4.820%
12/11/2018
4.750%
at 0.250 pts
45 day lock rate Est payment: $1,564.94
Fees in APR: $1,650
LincolnWay Community Bank 4.781%
12/11/2018
4.750%
at 0.000 pts
30 day lock rate Est payment: $1,564.94
Fees in APR: $1,085
Santander Bank, N.A. 4.934%
12/13/2018
4.875%
at 0.000 pts
60 day lock rate Est payment: $1,587.62
Fees in APR: $2,004
Northwest Federal Credit Union 4.818%
12/12/2018
4.750%
at 0.750 pts
45 day lock rate Est payment: $1,564.94
Fees in APR: $79
Bank of Oak Ridge 4.922%
12/6/2018
4.875%
at 0.250 pts
60 day lock rate Est payment: $1,587.62
Fees in APR: $853
Raymond James Bank, NA 4.913%
12/11/2018
4.875%
at 0.000 pts
45 day lock rate Est payment: $1,587.62
Fees in APR: $1,299
State Department Federal Credit Union 4.683%
12/10/2018
4.625%
at 0.000 pts
60 day lock rate Est payment: $1,542.42
Fees in APR: $2,000
Fulton Bank, NA 4.926%
12/11/2018
4.875%
at 0.250 pts
60 day lock rate Est payment: $1,587.62
Fees in APR: $1,007
Apple Federal Credit Union 4.848%
12/12/2018
4.750%
at 1.000 pts
60 day lock rate Est payment: $1,564.94
Fees in APR: $352
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. |
RatesORama.com Average Mortgage Rates
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