Mortgage Rates Turn Sharply Higher This Week

Mortgage 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

Current mortgage rates on 15 year loans are averaging 2.69 percent, an increase from the previous week's average 15 year rate of 2.63 percent.
30 year jumbo mortgage rates are averaging 4.17 percent, up from last week's average 30 year jumbo rate of 4.12 percent.
Mortgage rates today on 15 year jumbo loans are averaging 3.50 percent, up from last week's average 15 year jumbo rate of 3.45 percent.
5/1 conforming adjustable mortgage rates are averaging 2.95 percent, up from the prior week's average 5/1 adjustable rate of 2.89 percent.
5/1 jumbo adjustable mortgage rates are averaging 3.52 percent, an increase from last week's average 5/1 jumbo ARM of 3.47 percent.

To see a list of today's mortgage rates search 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

30 years Fixed
NMLS # 1168
State Lic # 11309

3.125%

03/05/2021

3.125%

at -0.250 pts
45 day lock rate

Est payment: $1,286

Fees in APR: ($358)

Direct Lender. Billions Funded.

30 years Fixed
NMLS # 1168
State Lic # 11309

2.974%

03/05/2021

2.875%

at 1.125 pts
45 day lock rate

Est payment: $1,245

Fees in APR: $3,854

Direct Lender. Billions Funded.

30 years Fixed
NMLS # 1168
State Lic # 11309

3.041%

03/05/2021

2.990%

at 0.500 pts
45 day lock rate

Est payment: $1,264

Fees in APR: $1,970

Direct Lender. Billions Funded.

20 years Fixed
NMLS # 1168
State Lic # 11309

2.776%

03/05/2021

2.500%

at 2.375 pts
45 day lock rate

Est payment: $1,590

Fees in APR: $7,661

Direct Lender. Billions Funded.

20 years Fixed
NMLS # 1168
State Lic # 11309

2.846%

03/05/2021

2.625%

at 1.875 pts
45 day lock rate

Est payment: $1,609

Fees in APR: $6,113

Direct Lender. Billions Funded.

20 years Fixed
NMLS # 1168
State Lic # 11309

2.972%

03/05/2021

2.875%

at 0.750 pts
45 day lock rate

Est payment: $1,646

Fees in APR: $2,639

Direct Lender. Billions Funded.

20 years Fixed
NMLS # 1168
State Lic # 11309

2.715%

03/05/2021

2.375%

at 3.000 pts
45 day lock rate

Est payment: $1,572

Fees in APR: $9,497

Direct Lender. Billions Funded.

20 years Fixed
NMLS # 1168
State Lic # 11309

2.919%

03/05/2021

2.750%

at 1.375 pts
45 day lock rate

Est payment: $1,627

Fees in APR: $4,640

Direct Lender. Billions Funded.

10 years Fixed
NMLS # 1168
State Lic # 11309

2.356%

03/05/2021

2.250%

at 0.375 pts
45 day lock rate

Est payment: $2,795

Fees in APR: $1,541

Direct Lender. Billions Funded.

10 years Fixed
NMLS # 1168
State Lic # 11309

2.344%

03/05/2021

1.875%

at 2.125 pts
45 day lock rate

Est payment: $2,744

Fees in APR: $6,917

Direct Lender. Billions Funded.

10 years Fixed
NMLS # 1168
State Lic # 11309

2.357%

03/05/2021

1.750%

at 2.875 pts
45 day lock rate

Est payment: $2,727

Fees in APR: $8,993

Direct Lender. Billions Funded.

10 years Fixed
NMLS # 1168
State Lic # 11309

2.334%

03/05/2021

2.000%

at 1.500 pts
45 day lock rate

Est payment: $2,761

Fees in APR: $4,895

Direct Lender. Billions Funded.

10 years Fixed
NMLS # 1168
State Lic # 11309

2.337%

03/05/2021

2.125%

at 0.875 pts
45 day lock rate

Est payment: $2,778

Fees in APR: $3,107

Direct Lender. Billions Funded.

20 years Fixed
NMLS # 1168
State Lic # 11309

3.039%

03/05/2021

3.000%

at 0.250 pts
45 day lock rate

Est payment: $1,664

Fees in APR: $1,070

Direct Lender. Billions Funded.

10 years Fixed
NMLS # 1168
State Lic # 11309

2.384%

03/05/2021

2.375%

at -0.125 pts
45 day lock rate

Est payment: $2,812

Fees in APR: $134

Direct Lender. Billions Funded.

15 years Fixed
NMLS # 1168
State Lic # 11309

2.226%

03/05/2021

1.875%

at 2.375 pts
45 day lock rate

Est payment: $1,914

Fees in APR: $7,616

Direct Lender. Billions Funded.

30 years Fixed
NMLS # 1168
State Lic # 11309

2.906%

03/05/2021

2.750%

at 1.875 pts
45 day lock rate

Est payment: $1,225

Fees in APR: $6,104

Direct Lender. Billions Funded.

30 years Fixed
NMLS # 1168
State Lic # 11309

2.974%

03/05/2021

2.875%

at 1.125 pts
45 day lock rate

Est payment: $1,245

Fees in APR: $3,854

Direct Lender. Billions Funded.

30 years Fixed
NMLS # 1168
State Lic # 11309

3.041%

03/05/2021

2.990%

at 0.500 pts
45 day lock rate

Est payment: $1,264

Fees in APR: $1,970

Direct Lender. Billions Funded.

30 years Fixed
NMLS # 1168
State Lic # 11309

3.125%

03/05/2021

3.125%

at -0.250 pts
45 day lock rate

Est payment: $1,286

Fees in APR: ($358)

Direct Lender. Billions Funded.

30 years Fixed
NMLS # 1168
State Lic # 11309

2.819%

03/05/2021

2.625%

at 2.375 pts
45 day lock rate

Est payment: $1,205

Fees in APR: $7,679

Direct Lender. Billions Funded.

30 years Fixed
NMLS # 1168
State Lic # 11309

2.735%

03/05/2021

2.500%

at 3.000 pts
45 day lock rate

Est payment: $1,186

Fees in APR: $9,347

Direct Lender. Billions Funded.

15 years Fixed
NMLS # 1168
State Lic # 11309

2.259%

03/05/2021

2.000%

at 1.750 pts
45 day lock rate

Est payment: $1,931

Fees in APR: $5,594

Direct Lender. Billions Funded.

15 years Fixed
NMLS # 1168
State Lic # 11309

2.302%

03/05/2021

2.125%

at 1.125 pts
45 day lock rate

Est payment: $1,948

Fees in APR: $3,803

Direct Lender. Billions Funded.

15 years Fixed
NMLS # 1168
State Lic # 11309

2.355%

03/05/2021

2.250%

at 0.625 pts
45 day lock rate

Est payment: $1,966

Fees in APR: $2,240

Direct Lender. Billions Funded.

15 years Fixed
NMLS # 1168
State Lic # 11309

2.414%

03/05/2021

2.375%

at 0.125 pts
45 day lock rate

Est payment: $1,983

Fees in APR: $830

Direct Lender. Billions Funded.

20 years Fixed
NMLS # 1168
State Lic # 11309

3.125%

03/05/2021

3.125%

at -0.250 pts
45 day lock rate

Est payment: $1,683

Fees in APR: ($268)

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

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