web statistics

Mortgage Rates

| Search for Current Refinance Rates and Mortgage Rates from Many Lenders
Search and compare refinance rates and mortgage rates today from many lenders by using our search tool.The rate list below is displaying mortgage refinance rates for a $200,000 mortgage loan in your state. Change the search criteria to receive your own personalized mortgage quotes from many lenders at once.
Loan Type
Purchase    Refinance
Location
State/City    Zip Code
Loan Amt Points FICO % Down
  
$
15 yr fixed refi in 08601, All points, Credit score: 740+     Sort by:
Lender
APR
Rate
Cost & Fees
Notes
 
Garden State Home Loans Logo
NMLS # 473163
(877) 602-5604
at 0.000 pts
30 day lock rate
Est payment: $1,381.16
Fees in APR: None
 
Next button
Garden State Home Loans Logo
NMLS # 473163
(877) 602-5604
at 0.375 pts
30 day lock rate
Est payment: $1,380.20
Fees in APR: None
 
Next button
Garden State Home Loans Logo
NMLS # 473163
(877) 602-5604
at 1.125 pts
30 day lock rate
Est payment: $1,357.24
Fees in APR: None
 
Next button
Citizens Bank
3.551%
7/24/2015
3.500%
at 0.000 pts
60 day lock rate
Est payment: $1,429.77
Fees in APR: $703
 
 
Valley National Bank
3.542%
7/24/2015
3.500%
at 0.000 pts
60 day lock rate
Est payment: $1,429.77
Fees in APR: $577
 
 
TD Bank, NA
3.573%
7/24/2015
3.500%
at 0.000 pts
60 day lock rate
Est payment: $1,429.77
Fees in APR: $997
 
 
HSBC Bank USA, N.A.
3.501%
7/22/2015
3.450%
at 0.000 pts
60 day lock rate
Est payment: $1,424.86
Fees in APR: $705
 
 
Fulton Bank of New Jersey
3.327%
7/20/2015
3.250%
at 0.125 pts
30 day lock rate
Est payment: $1,405.34
Fees in APR: $807
 
 
Raymond James Bank, NA
3.724%
7/28/2015
3.625%
at 0.000 pts
45 day lock rate
Est payment: $1,442.07
Fees in APR: $1,354
 
 
Santander Bank, N.A.
3.393%
7/28/2015
3.250%
at 0.000 pts
60 day lock rate
Est payment: $1,405.34
Fees in APR: $1,967
 
 
Bank of America
3.349%
7/27/2015
3.250%
at 0.258 pts
45 day lock rate
Est payment: $1,405.34
Fees in APR: $850
 
 
Regent Bank
3.318%
7/23/2015
3.250%
at 0.000 pts
30 day lock rate
Est payment: $1,405.34
Fees in APR: $942
 
 

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.



The recent run up in mortgage rates has reversed this week as a result of the Chinese stock market plunge. Average conforming 30 year mortgage rates are down 12 basis points to 4.04 percent. There is a chance that average 30 year rates will fall back below 4.00 percent this week.

You may be wondering why something happening in China is affecting mortgage rates in the United States. Mortgage rates are not directly affected by stock prices in China but are indirectly affected. Whenever there is uncertainly in the markets around the world, investors flock to the safety of U.S. Treasuries. The same thing happened this month when investors feared a Grexit. Earlier this month we posted an article on how the crisis in Greece was affecting mortgage rates: Greek Crisis Sends Mortgage Rates Lower this Week.

Weekly Mortgage Rate Report July 28 2015Any time U.S. Treasury price go up or down, the yield changes in the other direction. When investors buy Treasuries, prices move up and yields move lower. Lenders set mortgage rates to U.S. Treasury yields, so when yields decline, mortgage rates also decline.

All of the economic uncertainly in the world this year has benefited homeowners who financed or will finance the purchase of a home. At the beginning of 2015, average 30 year mortgage rates were forecast to hit 5.00 percent by the end of the year. The closer we get to the end of the year, the less likely we will see 5.00 percent rates.

A more likely scenario for 30 year mortgage rates is for rates to stay near current levels for the rest of the year. On the low end, rates could stay under 4.00 percent but on the high end rates could move up around 4.50 percent. Right now there are many lenders in our rate database quoting 30 year refinance rates below 4.00 percent.

Average 30 year rates are down considerably this week but average 15 year rates remain unchanged. The current average 15 year conforming rate is at 3.15 percent. 15 year rates will also fall this week, probably ending the week near 3.05 percent.

Average Mortgage Rates July 28 201530 year jumbo mortgage rates are averaging 4.31 percent, down from last week’s average 30 year jumbo rate of 4.62 percent. A 31 basis point decline in average rates is one of the largest declines I have ever seen. Occasionally lenders are slow to lower rates, so the large decline might be a holdover from the past several days.

Mortgage rates today on 15 year jumbo loans are averaging 3.89 percent, down from the previous week’s average 15 year jumbo rate of 4.01 percent. The best 15 year jumbo refinance rates in our database are much lower at 3.25 percent.

 
Author: Brian McKay
July 28th, 2015

As expected, mortgage rates are were driven higher this week because of higher bond yields. 15 year conforming mortgage rates are averaging 3.20 percent, up 5 basis points from last week’s average of 3.15 percent. Historically speaking, current mortgage rates are still very low. Back in 2007, average 15 year rates were as high as 6.36 percent, more than double the current rate.

Home affordably has decreased recently, not because of higher mortgage rates but because of higher home prices. The National Association of Realtors reported the median single-family home price is $230,300 up 8.6% from May 2014. Higher home prices makes homes less affordable. The NAR also reported Home Affordability in May 2015 decreased across the United States.

Higher Home Prices

Both home prices and mortgage rates are expected to continue increasing in the coming years. Mortgage rates will move higher because bond yields will move higher as the FOMC increases the fed funds rate. Home prices will move higher because of rising employment and higher wages.

Home prices have recovered from the housing bust and have reached new highs in 10 states according to CoreLogic. The main reason for this is the limited number of homes for sale is driving prices higher in many states. Overall, 33 states are at or within 10 percent of their price peaks.

Weekly Mortgage Rates Report July 14, 2015

Higher Mortgage Rates

30 year mortgage rates today are averaging 4.22 percent, up from the prior week’s average 30 year rate of 4.09 percent. As with 15 year rates, 30 year rates are still low historically speaking. Back in May 2007, average 30 year rates were at 6.70 percent. Back in October 1981, 30 year rates were at an astonishing 18.45 percent.

30 year jumbo mortgage rates are currently averaging 4.43 percent, up from the previous week’s average 30 year jumbo rate of 3.32 percent. Average jumbo rates are above 4.00 percent but there are lenders still quoting 30 year rates just below 4.00 percent. Right now in our rate database for California we have two lenders quoting 30 year jumbo refinance rates at 3.875 percent with points.

Average 15 year jumbo mortgage rates are currently averaging 3.90 percent, up 10 basis points from last week’s average rate. The lowest 15 year jumbo refinance rates available in our rate database for Colorado are at 3.375 percent with 1 points and at 3.50 percent with no points.

 

 
Author: Brian McKay
July 14th, 2015

Mortgage rates recently hit a high for 2015 but will decline this week. This past Sunday, the citizens of Greece voted “no” to a referendum to accept austere bailout terms by creditors. The no vote sent bond yields lower in Europe and the United States.

Yields on 10 year U.S. Treasuries fell 12 basis points on Monday and are down another 5 basis points this morning. Lower bond yields will send mortgage rates lower because lenders set rates based on bond yields. Average 30 year mortgage rates are already down from 4.17 percent to 4.09 percent this morning.

30 year Mortgage Rates Will Fall Back Below 4.00%

30 year rates will fall further this week and possibly fall back below 4.00 percent. The last time average 30 year mortgage rates were below 4.00 percent was at the end of May 2015. Mortgage rates were forecast to head higher in 2015 but so far that hasn’t happened. 30 year rates were forecast to hit 5.00 percent this year but that is looking more and more unlikely.

In late June I wrote an article about the short term direction of mortgage rates being dependent on what plays out in Greece. The no vote on more austerity puts Greece one stop closer to a Grexit, an exit from the Eurozone. If Greece does leave the Eurozone, we could see 10 year bond yields and 30 year mortgage rates fall towards record lows set in 2013.

Bond Yields and Mortgage Rates Will Eventually Head Higher

After the dust settles in Greece, bond yields and mortgage rates will head higher because the Federal Reserve is set to increase interest rates. The Fed is expected to increase their key benchmark interest rate, the federal funds rate, sometime this year. An increase in the fed funds rate will send bond yields higher, which will send mortgage rates higher.

The CME Group’s FedWatch has the probability of a 0.25 percent rate hike in September at 52.6 percent. A 0.25 percent rate hike will send 10 year bond yields higher by the same amount or more. 10 year yields are currently at 2.22 percent will probably move above 2.50 percent. 30 year mortgage rates currently at 4.09 percent will head towards 4.50 percent.

Higher Mortgage Rates Spurs Home Buying

Mortgage rates might head lower in the short term but in the long term, mortgage rates are going up. The hint of higher rates is already spurring home buying. The National Association of Realtors reported existing home sales in May soared to the highest mark since 2009 as new home sales climbed to a seven year high.

Lawrence Yun, chief economist of the National Association of REALTORS®, wrote “Buyers are coming back in force. One factor for the recent surge could have been due to the rising mortgage rates.”

Listed below are current average mortgage rates today and the lowest mortgage refinance rates available in our rate database.

Weekly Mortgage Rates Report July 7, 2015Average Mortgage Rates

  • Conforming 30 Year Rates 4.09%
  • Conforming 15 Year Rates 3.15%
  • Conforming 5 Year Adjustable Rates 3.18%
  • Jumbo 30 Year Rates 4.32%
  • Jumbo 15 Year Rates 3.80%
  • Jumbo 5 Year Adjustable Rates 3.70%

Lowest Refinance Rates

  • 30 Year Conforming Rate – 3.625% with 1.10 mortgage points
  • 15 Year Conforming Rate – 2.625% with 1.10 mortgage points
  • 5 Year Conforming Adjustable Rate – 2.25% with 0.10 mortgage points
  • 30 Year Jumbo Rate – 3.875% with 0.75 mortgage points
  • 15 Year Jumbo Rate – 2.75% with 1.10 mortgage points
  • 5 Year Jumbo Adjustable Rate – 2.50% with 1.10 mortgage points.

You can search for and compare rates in our state by searching our rate database: Mortgage Rates Today

 

 

 
Author: Brian McKay
July 7th, 2015

Mortgage rates increased the past month, following 10 year U.S. Treasury yields higher. Mortgage rates today on 30 year conforming loans are averaging 4.18 percent. About a month ago, 30 year mortgage rates were averaging 3.85 percent. Where rates move the next week is entirely dependent on how Greece’s debt talks play out.

Bond yields in the United States and across the globe have been swayed on the ups and downs in debt talks involving Greece and its creditors. The most recent news is that its creditors rejected Greece’s new proposals, according to Greek Prime Minister Alexis in a Tweet.

Their proposal was rejected but counterproposals were submitted, which is why 10 year U.S. bond yields are only down 2 basis points to 2.38 percent this morning. Greece needs more aid to prevent it from defaulting on its 1.6 billion euro debt at the end of the month. Lenders so far have refused to release funds to Greece unless more reforms are done.

Grexit Would Send Bond Yields and Mortgage Rates Plummeting

If Greece defaults at the end of the month equity markets will be in a freefall. As a result, bond yields would plunge in the classic flight-to-quality we have seen before when markets tumble. Bond yields move inversely to prices of bonds so as bond prices move higher, yields move lower. 10 year bond yields would fall back below 2.00 percent and might even break through the record low of 1.67 percent set in early 2013.

30 year mortgage rates would fall back below 4.00 percent and might also fall below the record average low of 3.34 percent set in early 2013. Conventional 15 year mortgage rates that are currently averaging 3.19 percent would fall below 3.00 percent and possibly break below the record average low of 2.56 percent.

Jumbo mortgage rates on 30 year loans currently averaging 4.35 percent would fall below 4.00 percent and towards 3.75 percent. 15 year jumbo mortgage rates averaging 3.19 percent would fall back below 3.00 percent and possibly as low as 3.50 percent.

If this scenario plays out, don’t expect rates to stay low for long. Investors will eventually realize a Grexit from the Euro and possibly the European Union won’t have a profound impact on the U.S. economy. At that point, equity markets will start rallying, bond yields will rise, and mortgage rates will move higher.

Outside of the Greek issue, the long term trend for bond yields and mortgage rates are higher. Yields and rates were driven to record lows the past 6 years as a result of the financial crisis, Great Recession, and the FOMC lowering the fed funds rate to a record low.

Direction of Mortgage Rates is Higher by the End of 2015

Now that the economy is back on its feet, interest rates have nowhere to move but higher. The FOMC is expected to increase the fed funds rate by 25 basis points in September, which would be the first increase in almost 10 years. While mortgage rates are not directly dependent on the federal funds rate, an increase will send bond yields higher, thus sending mortgage rates higher.

The FOMC is expected to do 2 or 3 interest rate increases in 2015. The most likely scenario are for 25 basis point increases for each. That would put the fed funds rate, currently in a range of zero percent to 1/4 percent, towards 0.50 percent to 0.75 percent by the end of the year.

As a result, 30 year conforming mortgage rates and 30 year jumbo rates would be between 4.75 percent to 5.00 percent. 15 year conforming mortgage rates would head towards 4.00 percent. 15 year jumbo mortgage rates would be around 4.50 percent.

 
Author: Brian McKay
June 24th, 2015

Mortgage rates moved slightly higher this week but will decline later this week because of lower bond yields. Despite the increase in rates, average mortgage rates are still near all-time record lows. Near record low mortgage rates, combined with 5 million jobs created over the past two years, and an unemployment rate nearing 5 percent will help the housing market in 2015.

30 year conventional mortgage rates today are averaging 3.90 percent, up slightly from last week’s average 30 year rate of 3.88 percent. Average 30 year rates are only about 50 basis points from the all-time record lows set in May 2013.

Mortgage Rates Today May 26 2015Economists with Freddie Mac and Fannie Mae, have revised their outlook higher for housing this year. Home sales and home prices are expected to increase in the final 6 months of 2015. 30 year mortgage rates are forecast to remain near current levels and also remain under 4.00 percent in 2015. You can view all Fannie Mae forecasts: Fannie Mae’s Housing Forecast for May 2015

Current mortgage rates on 15 year conventional loans are averaging 3.06 percent, up from last week’s average 15 year mortgage rate of 3.03 percent. Average 15 year rates are slightly above 3.00 percent but there are many lenders quoting 15 year refinance rates below 3.00 percent in our rate database. The lowest current rate in our database for California is at 2.75 percent with 1.10 mortgage points from Lenda (NMLS # 991397, State Lic # 01926580).

May 26 2015 Weekly Mortgage Rates Report5 year adjustable mortgage rates on conventional loans are averaging 3.05 percent, unchanged from last week’s average adjustable rate. The lowest 5 year adjustable rates available in our database for all states are much lower. For example, the lowest 5 year rate in Ohio is at 2.40 percent with 1 point from Third Federal (NMLS # 449401).

30 year jumbo mortgage rates are currently averaging 4.27 percent, up from the prior week’s average 30 year jumbo rate of 4.21 percent. The best 30 year jumbo refinance rates in our database of lenders for Connecticut are below 4.00 percent. The lowest rate currently available is at 3.75 percent with 0.95 points from First Internet Bank (NMLS # 424182).

Today’s mortgage rates on 15 year jumbo mortgage loans are averaging 3.82 percent, up from the previous week’s average 15 year rate of 3.79 percent. The lowest 15 year jumbo refinance rates in our rate database for New York is at 3.25 percent with 0.25 points from Investors Home Mortgage (NMLS # 60061).

5 year jumbo adjustable mortgage rates are averaging 3.42 percent, an increase from the previous week’s average rate of 3.38 percent. The best jumbo 5 year adjustable refinance rates in the database are under 3.00 percent. In the rate database for Georgia, the lowest rate is from Third Federal at 2.75 percent with zero mortgage points.

 
Author: Brian McKay
May 26th, 2015