Near Term Direction of Mortgage Rates Depends on Jobs Report

Average mortgage rates today are slightly higher, driven higher by 10 year U.S. Treasury yields increasing 9 basis points in late afternoon trading. Where mortgage rates are next week will depend a lot on Friday's job's report. Expectations are for non farm payrolls to increase a an increase by a rather large amount of 260,000. The unemployment rate is expected to remain unchanged at 5.8 percent.

If the jobs numbers come in close to forecasts we expect mortgage rates to decline slightly from current levels.Lower than expected numbers will also send average rates lower. The forecast is for 30 year conforming rates to drop below 4.00 percent again. If the number comes in stronger than expected average rates will increase.

Loan Type
Purchase    Refinance
Location
State/City    Zip Code
Loan Amt Points FICO % Down
  
$
30 yr fixed refi in 06101, All points, Credit score: 740+     Sort by:
Lender
APR
Rate
Cost & Fees
Notes
 
30 yr fixed Mortgage Loan from Ally Bank
Ally Bank
https://www.brimg.net/system/img/inst/10271_logo.gif
300000
Refinance
4.325
4.250
USD
Ally Bank Logo
at 0.100 pts
45 day lock rate
Est payment: $1,475.82
Fees in APR: $2,358
Thanks for the inquiry! 
 
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30 yr fixed Mortgage Loan from American Federal Mortgage Corporation
American Federal Mortgage Corporation
https://www.brimg.net/system/img/inst/10317_logo.gif
300000
Refinance
3.944
3.875
USD
American Federal Mortgage Corporation Logo
at 0.100 pts
30 day lock rate
Est payment: $1,410.71
Fees in APR: $2,208
Thanks for the inquiry! 
 
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30 yr fixed Mortgage Loan from Sebonic Financial
Sebonic Financial
https://www.brimg.net/system/img/inst/8420_logo.gif
300000
Refinance
4.101
3.990
USD
Sebonic Financial Logo
at 0.100 pts
30 day lock rate
Est payment: $1,430.52
Fees in APR: $3,671
Thank you for your inquiry, we will be in touch shortly. 
 
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30 yr fixed Mortgage Loan from HomeDirect Mortgage
HomeDirect Mortgage
https://www.brimg.net/system/img/inst/10447_logo.gif
300000
Refinance
4.293
4.125
USD
HomeDirect Mortgage Logo
at 1.000 pts
30 day lock rate
Est payment: $1,453.95
Fees in APR: $2,964
 
 
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30 yr fixed Mortgage Loan from Ally Bank
Ally Bank
https://www.brimg.net/system/img/inst/10271_logo.gif
300000
Refinance
4.404
4.375
USD
Ally Bank Logo
at 0.000 pts
45 day lock rate
Est payment: $1,497.86
Fees in APR: $1,039
Thanks for the inquiry! 
 
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30 yr fixed Mortgage Loan from Sebonic Financial
Sebonic Financial
https://www.brimg.net/system/img/inst/8420_logo.gif
300000
Refinance
4.247
4.240
USD
Sebonic Financial Logo
at 0.000 pts
30 day lock rate
Est payment: $1,474.06
Fees in APR: $242
Thank you for your inquiry, we will be in touch shortly. 
 
Next button
30 yr fixed Mortgage Loan from HomeDirect Mortgage
HomeDirect Mortgage
https://www.brimg.net/system/img/inst/10447_logo.gif
300000
Refinance
4.250
4.250
USD
HomeDirect Mortgage Logo
at 0.000 pts
30 day lock rate
Est payment: $1,475.82
Fees in APR: None
 
 
Next button
30 yr fixed Mortgage Loan from American Federal Mortgage Corporation
American Federal Mortgage Corporation
https://www.brimg.net/system/img/inst/10317_logo.gif
300000
Refinance
4.000
4.000
USD
American Federal Mortgage Corporation Logo
at 0.000 pts
30 day lock rate
Est payment: $1,432.25
Fees in APR: None
Thanks for the inquiry! 
 
Next button
30 yr fixed Mortgage Loan from Sebonic Financial
Sebonic Financial
https://www.brimg.net/system/img/inst/8420_logo.gif
300000
Refinance
3.935
3.740
USD
Sebonic Financial Logo
at 1.100 pts
30 day lock rate
Est payment: $1,387.65
Fees in APR: $3,755
Thank you for your inquiry, we will be in touch shortly. 
 
Next button
30 yr fixed Mortgage Loan from American Federal Mortgage Corporation
American Federal Mortgage Corporation
https://www.brimg.net/system/img/inst/10317_logo.gif
300000
Refinance
3.852
3.750
USD
American Federal Mortgage Corporation Logo
at 1.100 pts
30 day lock rate
Est payment: $1,389.35
Fees in APR: $420
Thanks for the inquiry! 
 
Next button
30 yr fixed mtg refi Mortgage Loan from The Washington Trust Company
The Washington Trust Company
300000
Refinance
4.155
4.125
USD
The Washington Trust Company

4.155%
4/16/2019
4.125%
at 0.000 pts
30 day lock rate
Est payment: $1,453.95
Fees in APR: $1,083
 
 
30 yr fixed mtg refi Mortgage Loan from Santander Bank, N.A.
Santander Bank, N.A.
300000
Refinance
4.557
4.500
USD
Santander Bank, N.A.

4.557%
4/19/2019
4.500%
at 0.000 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $2,004
 
 
30 yr fixed mtg refi Mortgage Loan from TD Bank, NA
TD Bank, NA
300000
Refinance
4.154
4.125
USD
TD Bank, NA

4.154%
4/16/2019
4.125%
at 0.000 pts
45 day lock rate
Est payment: $1,453.95
Fees in APR: $1,043
 
 
30 yr fixed mtg refi Mortgage Loan from Savings Bank of Danbury
Savings Bank of Danbury
300000
Refinance
4.397
4.375
USD
Savings Bank of Danbury

4.397%
4/19/2019
4.375%
at 0.000 pts
60 day lock rate
Est payment: $1,497.86
Fees in APR: $790
 
 
30 yr fixed mtg refi Mortgage Loan from Bank of America
Bank of America
300000
Refinance
4.365
4.250
USD
Bank of America

4.365%
4/15/2019
4.250%
at 0.903 pts
60 day lock rate
Est payment: $1,475.82
Fees in APR: $1,351
 
 
30 yr fixed mtg refi Mortgage Loan from Citizens Bank, NA
Citizens Bank, NA
300000
Refinance
4.403
4.375
USD
Citizens Bank, NA

4.403%
4/19/2019
4.375%
at 0.000 pts
60 day lock rate
Est payment: $1,497.86
Fees in APR: $998
 
 
30 yr fixed mtg refi Mortgage Loan from United Bank
United Bank
300000
Refinance
4.276
4.250
USD
United Bank

4.276%
4/16/2019
4.250%
at 0.000 pts
30 day lock rate
Est payment: $1,475.82
Fees in APR: $911
 
 
30 yr fixed mtg refi Mortgage Loan from The Guilford Savings Bank
The Guilford Savings Bank
300000
Refinance
4.291
4.250
USD
The Guilford Savings Bank

4.291%
4/19/2019
4.250%
at 0.250 pts
60 day lock rate
Est payment: $1,475.82
Fees in APR: $719
 
 
30 yr fixed mtg refi Mortgage Loan from Union Savings Bank
Union Savings Bank
300000
Refinance
4.399
4.375
USD
Union Savings Bank

4.399%
4/12/2019
4.375%
at 0.000 pts
60 day lock rate
Est payment: $1,497.86
Fees in APR: $852
 
 
30 yr fixed mtg refi Mortgage Loan from UniBank for Savings
UniBank for Savings
300000
Refinance
4.536
4.500
USD
UniBank for Savings

4.536%
4/19/2019
4.500%
at 0.250 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $500
 
 
30 yr fixed mtg refi Mortgage Loan from Liberty Bank
Liberty Bank
300000
Refinance
4.169
4.125
USD
Liberty Bank

4.169%
4/19/2019
4.125%
at 0.250 pts
60 day lock rate
Est payment: $1,453.95
Fees in APR: $814
 
 
30 yr fixed mtg refi Mortgage Loan from LincolnWay Community Bank
LincolnWay Community Bank
300000
Refinance
4.155
4.125
USD
LincolnWay Community Bank

4.155%
4/16/2019
4.125%
at 0.000 pts
30 day lock rate
Est payment: $1,453.95
Fees in APR: $1,085
 
 
30 yr fixed mtg refi Mortgage Loan from First National Bank of Omaha
First National Bank of Omaha
300000
Refinance
4.575
4.500
USD
First National Bank of Omaha

4.575%
4/19/2019
4.500%
at 0.625 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $752
 
 

Mortage Data Provided by Bankrate.com Many lenders have different rates on their own Websites than those posted on Bankrate.com. In order to get the Bankrate.com rate, please identify yourself as a Bankrate.com customer. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the lender you choose, please click here.

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.





MonitorBankRates.com reports average 30 year mortgage rates are at 4.08 percent, up from last week's average 30 year rate of 3.96 percent.

Average mortgage rates in 2014 are nowhere near where forecasts were at the beginning of the year. Earlier this year, forecasts were for conventional 30 year mortgage rates to reach 5.00 percent. The closest 30 year rates came to 5.00 percent was at 4.53 percent back during the first week of January.

30 year rates will definitely not reach 5.00 percent this year and will probably remain near 4.00 percent. Average rates might reach 5.00 percent at the end of 2015, a full year later than originally predicted. One thing is for sure, rates will be moving higher in the coming years so don't get too used to these low rates.

If you're thinking about buying a home now is probably one of the best times ever. Not only are mortgage rates low right now home prices are still a lower than they were at the height of the housing bubble. Home affordability is still high historically speaking. You can use Realtor.com's Home Affordability Calculator to see how much house you can afford.

Current mortgage rates on 15 year conforming loans are averaging 3.04 percent, up from last week's average 15 year mortgage rate of 2.98 percent. We expect average 15 year mortgage rates to fall back below 3.00 percent on any jobs report that doesn't show stronger than expected job growth. There are lenders quoting 15 year refinance rates below 3.00 percent if you're willing to pay points on a loan to secure a lower rate.

Today's mortgage rates on 30 year jumbo loans are also higher averaging 4.15 percent, up from last week's average 30 year jumbo rate of 4.09 percent. Jumbo mortgage rates will remain near current levels for the rest of 2014 and might actually fall back below 4.00 percent. Right now the best jumbo rates available from lenders are still under 4.00 percent if you're willing to pay points to buy down the rate.

15 year jumbo mortgage rates are currently averaging 3.75 percent, an increase from the previous week's average 15 year jumbo rate of 3.69 percent. Average 15 year jumbo rates will also remain near current levels for the rest of the year. Right now on the rate table the lowest 15 year jumbo refinance rates available are well below the average at 2.875 percent with 1 mortgage point.

 
Author: Brian McKay
December 3rd, 2014