Mortgage Rates Will Fall Further as Bond Yields Tumble to One Year Lows

Mortgage rates, which are already near record lows, will fall further in the coming days because of tumbling 10 year U.S. Treasury yields. 10 year bond yields are down another 9 basis points today to 1.65 percent. At the end of 2015, yields were around 2.30 percent.

During the same period, average 30 year mortgage rates have fallen from 3.90 percent down to today's average rate of 3.67 percent. The lowest quoted 30 year mortgage rates available on our rate list today are at 3.25 percent with 1 mortgage point. By the end of the week, average 30 year rates will fall towards 3.50 percent and the lowest quoted rates will be around 3.125 percent.

Average 15 year mortgage rates are currently at 2.80 percent, a decline from the prior week's average 15 year rate of 2.88 percent. The lowest quoted 15 year refinance rates on our rate list are at 2.50 percent with 2 mortgage points and at 2.625 percent with no points.

30 year jumbo mortgage rates today are averaging 4.09 percent, a decline from the previous week's average 30 year jumbo rate of 4.19 percent. The lowest 30 year jumbo refinance rates on our rate list are below the average at 3.125 percent with 1.10 points and at 3.50 percent with no points.

Today's mortgage rates on 15 year jumbo loans are averaging 3.73 percent, down from last week's average 15 year jumbo rate of 3.85 percent. The best 15 year jumbo refinance rates on our rate list are about 1.00 percent lower than the average at 3.75 percent with no points.



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
3.138%
3.125%
USD
AmeriSave Mortgage Corporation Logo
NMLS # 1168
State Lic # 11309
10/23/2020
at 0.000 pts
30 day lock rate
Est payment: $1,286
Fees in APR: $500
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
2.646%
2.500%
USD
AmeriSave Mortgage Corporation Logo
NMLS # 1168
State Lic # 11309
10/23/2020
at 1.750 pts
30 day lock rate
Est payment: $1,186
Fees in APR: $5,795
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
2.934%
2.875%
USD
AmeriSave Mortgage Corporation Logo
NMLS # 1168
State Lic # 11309
10/23/2020
at 0.625 pts
30 day lock rate
Est payment: $1,245
Fees in APR: $2,297
Direct Lender. Billions Funded.
 
PERIOD_FIXED_30YEARS Mortgage Loan from Rocket Mortgage
Rocket Mortgage
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111574.gif
300000
Purchase
3.314%
3.125%
USD
Rocket Mortgage Logo
NMLS # 3030
10/23/2020
at 2.000 pts
45 day lock rate
Est payment: $1,286
Fees in APR: $7,250
From the lender: We can close your loan in less than a month!
 
PERIOD_FIXED_30YEARS Mortgage Loan from Rocket Mortgage
Rocket Mortgage
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111574.gif
300000
Purchase
3.739%
3.625%
USD
Rocket Mortgage Logo
NMLS # 3030
10/23/2020
at 1.000 pts
45 day lock rate
Est payment: $1,369
Fees in APR: $4,250
From the lender: We can close your loan in less than a month!
 
PERIOD_FIXED_30YEARS Mortgage Loan from Quicken Loans NMLS #3030
Quicken Loans NMLS #3030
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111724.gif
300000
Purchase
3.693%
3.500%
USD
Quicken Loans NMLS #3030 Logo
NMLS # 3030
10/23/2020
at 2.000 pts
45 day lock rate
Est payment: $1,348
Fees in APR: $7,250
The Better Business Bureau gives Quicken Loans and A+ for customer service.
 
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
February 24th, 2016