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30 Year Mortgage Rates Today at 3.99 Percent

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Average 30 year mortgage rates remain at 3.99 percent. Average mortgage rates are slightly higher from a 2014 record low of 3.93 percent set on October 22. 30 year rates hit a new low a few weeks ago because 10 year bond yields also hit lows for 2014.

Over the past two weeks, 10 year bond yields bounced off of a record low of 1.86 percent and are now at 2.31 percent. Lenders haven't been as quick to increase mortgage rates over the same period of time but eventually will catch up by increasing rates. In the coming days, average 30 year mortgage rates will be back above 4.00 percent and will head towards 4.25 percent by the end of November.



30 Year Mortgage Rates Remain Unchanged Today at 399 PercentLooking out two months from now, average 30 year rates will be in a range of 4.25 percent to 4.50 percent. The rates mentioned above are average rates but there are many lenders quoting 30 year refinance rates well below the average.

For example, on our rate table for California, the lowest 30 year refinance rate is at 3.50 percent with 1.10 mortgage points offered by Aimloan.com. The lowest 30 year refinancing rate without points is also below the average at 3.75 percent, also offered by Aim Loan.

Mortgage rates today on 15 year conventional loans are averaging 3.13 percent, up from last week's average 15 year mortgage rate of 3.04 percent. Average 15 year mortgage rates were expected to fall below 3.00 percent but just the opposite happened as a result of bond rates moving higher.

Average 15 year rates are above 3.00 percent but there are several lenders quoting 15 year refi rates below the average. The best 15 year rate available in the database for Florida is at 2.625 with 1.10 mortgage points. The best 15 year rate without points is also below 3.00 percent at 2.875 percent.

Current mortgage rates on 30 year jumbo loans are averaging 4.24 percent, a slight decline from last week's average 30 year jumbo rate of 4.25 percent. For the state of Colorado, the best 30 year jumbo refinance rates in our database are at 3.75 percent with 2 mortgage points. The best 30 year jumbo refi rate without points is also below 4.00 percent at 3.875 percent.

Today's mortgage rates on 15 year jumbo loans are averaging 3.86 percent, a decline from last week's average 15 year jumbo mortgage rate of 3.88 percent. The lowest 15 year jumbo refinance rates offered by lenders in Connecticut are at 3.125 percent with no mortgage points.

Average 5/1 adjustable mortgage rates on conforming loans are at 3.40 percent, up from the prior week's average 5/1 rate of 3.31 percent. The best adjustable refinance rate available in the database for Kentucky are considerably below the average at 2.125 percent with 1.10 mortgage points. The best adjustable refi rate without points is also well below the average at 2.55 percent.

5/1 jumbo adjustable mortgage rates are averaging 3.19 percent, an increase from the previous week's average of 3.15 percent. The best 5 year jumbo adjustable refinance rates in the database for New Hampshire  are at  2.55 percent with no mortgage points.
 
Author: Brian McKay
November 7th, 2014