Average 30 Year Mortgage Rates Hit A New Low for 2016

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Mortgage rates continue their relentless decent down as average 30 year mortgage rates hit a new low for 2016. Average mortgage rates moved sharply lower the past several weeks, following 10 year U.S. Treasury yields lower. Current 30 year rates are a mere 12 basis points above the all-time record low set in the fourth quarter of 2012.

Average 30 year mortgage rates are at 3.43 percent today, down from the prior week's average rate of 3.49 percent. About a month ago, 30 year rates were averaging 3.75 percent and at the start of 2016 30 year rates were around 4.00 percent.

There are many lenders quoting 30 year rates below the average of 3.43 percent. The lowest 30 year refinance rate in our database of rates is from Sebonic Financial at 3.125 percent with 1.10 mortgage points.

The lowest 30 year refinance rate without points is just below the average at 3.375 percent from First Tech Credit Union. Sebonic Financial's quoted rate and First Tech Credit Union's quoted rate are for homes in California.

15 year mortgage rates today are currently averaging 2.69 percent, up slightly from last week's average 15 year mortgage rate of 2.66 percent. Average 15 year mortgage rates haven't fallen as much as 30 year rates the past several weeks. A month ago, average 15 year rates were around 3.00 percent, only about 35 basis points above the current average rate.

Searching our rate database for the state of Georgia, Regent Bank is quoting 15 year conforming mortgage rates at 2.50 percent with zero mortgage points. You can compare mortgage rates for your state by searching our rate database at MonitorBankRates.com/Mortgage-Rates.




Loan Type
Purchase    Refinance
Location
State/City    Zip Code
Loan Amt Points FICO % Down
  
$
30 yr fixed refi in 23223, All points, Credit score: 740+     Sort by:
Lender
APR
Rate
Cost & Fees
Notes
 
30 yr fixed mtg refi Mortgage Loan from Northwest Federal Credit Union
Northwest Federal Credit Union
300000
Refinance
4.169
4.125
USD
Northwest Federal Credit Union
4.169%
5/15/2019
4.125%
at 0.500 pts
45 day lock rate
Est payment: $1,453.95
Fees in APR: $79
 
 
30 yr fixed mtg refi Mortgage Loan from LincolnWay Community Bank
LincolnWay Community Bank
300000
Refinance
4.030
4.000
USD
LincolnWay Community Bank
4.030%
5/21/2019
4.000%
at 0.000 pts
30 day lock rate
Est payment: $1,432.25
Fees in APR: $1,085
 
 
30 yr fixed mtg refi Mortgage Loan from Bank of Oak Ridge
Bank of Oak Ridge
300000
Refinance
4.044
4.000
USD
Bank of Oak Ridge
4.044%
5/16/2019
4.000%
at 0.250 pts
60 day lock rate
Est payment: $1,432.25
Fees in APR: $853
 
 
30 yr fixed mtg refi Mortgage Loan from State Department Federal Credit Union
State Department Federal Credit Union
300000
Refinance
4.306
4.250
USD
State Department Federal Credit Union
4.306%
5/20/2019
4.250%
at 0.000 pts
60 day lock rate
Est payment: $1,475.82
Fees in APR: $2,000
 
 
30 yr fixed mtg refi Mortgage Loan from Raymond James Bank, NA
Raymond James Bank, NA
300000
Refinance
4.537
4.500
USD
Raymond James Bank, NA
4.537%
5/21/2019
4.500%
at 0.000 pts
45 day lock rate
Est payment: $1,520.06
Fees in APR: $1,299
 
 
30 yr fixed mtg refi Mortgage Loan from Apple Federal Credit Union
Apple Federal Credit Union
300000
Refinance
4.219
4.125
USD
Apple Federal Credit Union
4.219%
5/15/2019
4.125%
at 1.000 pts
60 day lock rate
Est payment: $1,453.95
Fees in APR: $352
 
 
30 yr fixed mtg refi Mortgage Loan from Fulton Bank, NA
Fulton Bank, NA
300000
Refinance
4.403
4.375
USD
Fulton Bank, NA
4.403%
5/21/2019
4.375%
at 0.000 pts
60 day lock rate
Est payment: $1,497.86
Fees in APR: $1,007
 
 
30 yr fixed mtg refi Mortgage Loan from Virginia Credit Union
Virginia Credit Union
300000
Refinance
4.213
4.125
USD
Virginia Credit Union
4.213%
5/21/2019
4.125%
at 0.500 pts
45 day lock rate
Est payment: $1,453.95
Fees in APR: $1,650
 
 
30 yr fixed mtg refi Mortgage Loan from Bank of America
Bank of America
300000
Refinance
4.074
4.000
USD
Bank of America
4.074%
5/15/2019
4.000%
at 0.458 pts
60 day lock rate
Est payment: $1,432.25
Fees in APR: $1,289
 
 

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.





 
Author: Brian McKay
July 19th, 2016