Average 30 year mortgage rates posted a small decline this past week after moving higher for all of 2018. Week over week, average 30 year mortgage rates declined to 4.55 percent, down 3 basis points from the prior week's average 30 year rate of 4.58 percent. Overall, 30 year mortgage rates are about 50 basis points higher since the start of 2018.
15 year mortgage rates today are currently averaging 4.02 percent, down from the previous week's average 15 year mortgage rate of 4.04 percent. The average rate on 15 year mortgage loans is also about .50 percent higher this year.
Lender
APR
Rate
Cost & Fees
Notes
30 yr fixed Mortgage Loan from First Internet Bank
30 yr fixed mtg refi Mortgage Loan from Northwest Federal Credit Union
Northwest Federal Credit Union
300000
Refinance
4.840
4.750
USD
Northwest Federal Credit Union
4.840%
12/5/2018
4.750%
at 1.000 pts 45 day lock rate
Est payment: $1,564.94
Fees in APR: $79
30 yr fixed mtg refi Mortgage Loan from Santander Bank, N.A.
Santander Bank, N.A.
300000
Refinance
4.934
4.875
USD
Santander Bank, N.A.
4.934%
12/11/2018
4.875%
at 0.000 pts 60 day lock rate
Est payment: $1,587.62
Fees in APR: $2,004
30 yr fixed mtg refi Mortgage Loan from Fulton Bank, NA
Fulton Bank, NA
300000
Refinance
4.926
4.875
USD
Fulton Bank, NA
4.926%
12/11/2018
4.875%
at 0.250 pts 60 day lock rate
Est payment: $1,587.62
Fees in APR: $1,007
30 yr fixed mtg refi Mortgage Loan from State Department Federal Credit Union
State Department Federal Credit Union
300000
Refinance
4.683
4.625
USD
State Department Federal Credit Union
4.683%
12/10/2018
4.625%
at 0.000 pts 60 day lock rate
Est payment: $1,542.42
Fees in APR: $2,000
30 yr fixed mtg refi Mortgage Loan from LincolnWay Community Bank
LincolnWay Community Bank
300000
Refinance
4.781
4.750
USD
LincolnWay Community Bank
4.781%
12/11/2018
4.750%
at 0.000 pts 30 day lock rate
Est payment: $1,564.94
Fees in APR: $1,085
30 yr fixed mtg refi Mortgage Loan from Apple Federal Credit Union
Apple Federal Credit Union
300000
Refinance
4.848
4.750
USD
Apple Federal Credit Union
4.848%
12/5/2018
4.750%
at 1.000 pts 60 day lock rate
Est payment: $1,564.94
Fees in APR: $352
30 yr fixed mtg refi Mortgage Loan from Virginia Credit Union
Virginia Credit Union
300000
Refinance
4.820
4.750
USD
Virginia Credit Union
4.820%
12/11/2018
4.750%
at 0.250 pts 45 day lock rate
Est payment: $1,564.94
Fees in APR: $1,650
30 yr fixed mtg refi Mortgage Loan from TD Bank, NA
TD Bank, NA
300000
Refinance
4.778
4.750
USD
TD Bank, NA
4.778%
12/7/2018
4.750%
at 0.000 pts 45 day lock rate
Est payment: $1,564.94
Fees in APR: $982
30 yr fixed mtg refi Mortgage Loan from Bank of America
Bank of America
300000
Refinance
4.723
4.625
USD
Bank of America
4.723%
12/5/2018
4.625%
at 0.699 pts 60 day lock rate
Est payment: $1,542.42
Fees in APR: $1,289
30 yr fixed mtg refi Mortgage Loan from Citizens Bank, NA
Citizens Bank, NA
300000
Refinance
4.927
4.875
USD
Citizens Bank, NA
4.927%
12/7/2018
4.875%
at 0.125 pts 60 day lock rate
Est payment: $1,587.62
Fees in APR: $1,408
30 yr fixed mtg refi Mortgage Loan from Bank of Oak Ridge
Bank of Oak Ridge
300000
Refinance
4.922
4.875
USD
Bank of Oak Ridge
4.922%
12/6/2018
4.875%
at 0.250 pts 60 day lock rate
Est payment: $1,587.62
Fees in APR: $853
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.
Current mortgage rates on 5 year adjustable mortgage loans are at 3.73 percent. Average 5 year adjustable rates are up from last week's average of 3.69 percent. 5 year adjustable rates are up about 60 basis points so far this year, higher than longer term rates.
Short term mortgage rates such as 5 year adjustable rates are tied to short term interest rates. Short term interest rates are being forced higher because the Federal Reserve is increasing the fed funds rate. As result, shorter term mortgage rates are rising faster than longer term mortgage rates.
Average Jumbo Mortgage Rates
30 year jumbo mortgage rates are averaging 4.65 percent, down from the previous week's average 30 year jumbo rate of 4.68 percent.
Mortgage rates today on 15 year jumbo loans are averaging 4.54 percent, a decline from the prior week's average 15 year jumbo rate of 4.57 percent.
5 year adjustable jumbo mortgage rates are averaging 4.29 percent. Last week, average 5 year adjustable jumbo rates were slightly higher at 4.31 percent.
The Federal Reserve is expected to increase their key benchmark interest rate, the fed funds rate, at least twice more this year. As a result, the forecast for mortgage rates is higher for the rest of 2018.
There is a good chance the Fed will increase the rate more because inflation is on the rise. The current inflation rate is at 2.00 percent, right at the Fed's target rate of 2.00 percent. If inflation picks up steam and increases beyond 2 percent, we expect rates to move even higher.
