Average Mortgage Rates Mixed Today but Heading Lower in the Coming Months

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Average current mortgage rates moved higher since the FOMC announced another around of quantitative easing. Mortgage rates are higher because Treasury yields increased as investors sold Treasuries (yields move in the opposite direction) to invest in riskier assets like stocks and commodities. During the first two rounds of easing since 2009 stock prices are up 100% so investors believe another round of easing will send stocks up further. When the Fed begins QE3 bond yields and mortgage rates will fall in the coming months.

In QE3 the Fed will buy $40 billion a month in agency mortgage backed securities (MBS) to drive down long term interest rates more generally, but also on mortgage interest rates specifically, providing more support to the housing sector by encouraging home purchases and home loan refinancing. The Fed also said they will extent their highly accommodating stance of keeping the Fed funds rate in a targeted range of zero percent to one quarter percent from the end of 2014 to the middle of 2015.
Loan Type
Purchase    Refinance
Location
State/City    Zip Code
Loan Amt Points FICO % Down
  
$
30 yr fixed refi in 95816, All points, Credit score: 740+     Sort by:
Lender
APR
Rate
Cost & Fees
Notes
 
30 yr fixed Mortgage Loan from Optimum First Mortgage Inc.
Optimum First Mortgage Inc.
https://www.brimg.net/system/img/inst/7604_logo.gif
300000
Refinance
4.259
4.125
USD
Optimum First Mortgage Inc. Logo
NMLS # 240415
State Lic # 01525044
(844) 365 - 0454
at 0.100 pts
30 day lock rate
Est payment: $1,453.95
Fees in APR: $4,459
 
 
30 yr fixed Mortgage Loan from Agora Lending
Agora Lending
https://www.brimg.net/system/img/inst/10036_logo.gif
300000
Refinance
3.713
3.625
USD
Agora Lending Logo
NMLS # 1121650
State Lic # 6054815
(877) 387 - 3530
at 0.100 pts
30 day lock rate
Est payment: $1,368.15
Fees in APR: $2,947
Thank you for your inquiry! 
 
30 yr fixed Mortgage Loan from Optimum First Mortgage Inc.
Optimum First Mortgage Inc.
https://www.brimg.net/system/img/inst/7604_logo.gif
300000
Refinance
4.525
4.500
USD
Optimum First Mortgage Inc. Logo
NMLS # 240415
State Lic # 01525044
(844) 365 - 0454
at 0.000 pts
30 day lock rate
Est payment: $1,520.06
Fees in APR: $889
 
 
30 yr fixed Mortgage Loan from Agora Lending
Agora Lending
https://www.brimg.net/system/img/inst/10036_logo.gif
300000
Refinance
3.783
3.750
USD
Agora Lending Logo
NMLS # 1121650
State Lic # 6054815
(877) 387 - 3530
at 0.000 pts
30 day lock rate
Est payment: $1,389.35
Fees in APR: $1,219
Thank you for your inquiry! 
 
30 yr fixed Mortgage Loan from Better Mortgage Inc
Better Mortgage Inc
https://www.brimg.net/system/img/inst/9722_logo.gif
300000
Refinance
3.894
3.875
USD
Better Mortgage Inc Logo
NMLS # 330511
State Lic # 6052748
at 0.000 pts
30 day lock rate
Est payment: $1,410.71
Fees in APR: $700
Thank you for your quote. 
 
30 yr fixed Mortgage Loan from NationsChoice Mortgage
NationsChoice Mortgage
https://www.brimg.net/system/img/inst/8111_logo.gif
300000
Refinance
4.167
4.125
USD
NationsChoice Mortgage Logo
NMLS # 164626
State Lic # 4130556
(877) 388 - 3956
at 0.000 pts
30 day lock rate
Est payment: $1,453.95
Fees in APR: $1,495
 
 
30 yr fixed Mortgage Loan from Better Mortgage Inc
Better Mortgage Inc
https://www.brimg.net/system/img/inst/9722_logo.gif
300000
Refinance
3.689
3.500
USD
Better Mortgage Inc Logo
NMLS # 330511
State Lic # 6052748
at 1.100 pts
30 day lock rate
Est payment: $1,347.13
Fees in APR: $3,643
Thank you for your quote. 
 
30 yr fixed Mortgage Loan from Optimum First Mortgage Inc.
Optimum First Mortgage Inc.
https://www.brimg.net/system/img/inst/7604_logo.gif
300000
Refinance
4.078
3.875
USD
Optimum First Mortgage Inc. Logo
NMLS # 240415
State Lic # 01525044
(844) 365 - 0454
at 1.100 pts
30 day lock rate
Est payment: $1,410.71
Fees in APR: $3,976
 
 
30 yr fixed mtg refi Mortgage Loan from LincolnWay Community Bank
LincolnWay Community Bank
300000
Refinance
4.280
4.250
USD
LincolnWay Community Bank
4.280%
3/19/2019
4.250%
at 0.000 pts
30 day lock rate
Est payment: $1,475.82
Fees in APR: $1,085
 
 
30 yr fixed mtg refi Mortgage Loan from San Diego County Credit Union
San Diego County Credit Union
300000
Refinance
4.304
4.250
USD
San Diego County Credit Union
4.304%
3/20/2019
4.250%
at 0.500 pts
60 day lock rate
Est payment: $1,475.82
Fees in APR: $434
 
 
30 yr fixed mtg refi Mortgage Loan from First Tech Credit Union
First Tech Credit Union
300000
Refinance
4.275
4.250
USD
First Tech Credit Union
4.275%
3/20/2019
4.250%
at 0.000 pts
30 day lock rate
Est payment: $1,475.82
Fees in APR: $898
 
 
30 yr fixed mtg refi Mortgage Loan from Raymond James Bank, NA
Raymond James Bank, NA
300000
Refinance
4.412
4.375
USD
Raymond James Bank, NA
4.412%
3/26/2019
4.375%
at 0.000 pts
45 day lock rate
Est payment: $1,497.86
Fees in APR: $1,299
 
 
30 yr fixed mtg refi Mortgage Loan from Union Bank
Union Bank
300000
Refinance
4.522
4.500
USD
Union Bank
4.522%
3/20/2019
4.500%
at 0.000 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $771
 
 
30 yr fixed mtg refi Mortgage Loan from Schools First FCU
Schools First FCU
300000
Refinance
4.278
4.250
USD
Schools First FCU
4.278%
3/25/2019
4.250%
at 0.000 pts
60 day lock rate
Est payment: $1,475.82
Fees in APR: $995
 
 
30 yr fixed mtg refi Mortgage Loan from Star One Credit Union
Star One Credit Union
300000
Refinance
3.878
3.875
USD
Star One Credit Union
3.878%
3/25/2019
3.875%
at 0.000 pts
45 day lock rate
Est payment: $1,410.71
Fees in APR: $105
 
 
30 yr fixed mtg refi Mortgage Loan from Bank of the West
Bank of the West
300000
Refinance
4.419
4.375
USD
Bank of the West
4.419%
3/26/2019
4.375%
at 0.250 pts
60 day lock rate
Est payment: $1,497.86
Fees in APR: $793
 
 

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.






Here is a video of the press conference by Fed Chairman, Ben Bernanke:



Mortgage rates today on 30 year conforming mortgage loans are averaging 3.52 percent, an increase from an average 30 year mortgage rate of 3.51 percent. 30 year conventional mortgage rates are just above a record low of 3.47 percent set in late July. Average 30 year mortgage interest rates will break though the record low and drop as low as 3.00 percent with 3.25 percent because of QE3.

Today's mortgage rates on 30 year conventional loans can be found below the average rate. There are many lenders offering 30 year refinance rates below the average on our rate tables. Right now on our 30 year refinance rate list for the state of Connecticut, LenderRefi is offering 30 year mortgage refinance rates at 3.15 percent with 0.876 points. Pleasant Valley Home Mortgage is offering 30 year refinance mortgage rates at 3.375 percent with zero points.

Mortgage rates currently on 15 year conforming home loans are averaging 2.93 percent, an increase from an average 15 year mortgage rate of 2.88 percent. Average 15 year mortgage rates should fall to the 2.50 percent to 2.60 percent range if QE3 is successful in driving down rates.

There are many lenders offering 15 year refinance rates today below the average, well below the average if you're willing to pay points. Right now on our 15 year refi rates list for the state of Georgia, Roundpoint Mortgage and Amerisave are both offering 15 year rates at 2.50 percent with points. The lowest current refinance rates for 15 year loans without points is 2.75 percent.

Today's mortgage rates on 30 year jumbo loans are averaging 4.17 percent, down from an average 30 year jumbo mortgage rate of 4.19 percent. I believe 30 year jumbo mortgage rates will fall below 4.00 percent when QE3 is in full swing. Right now you can find today's refinance rates on jumbo loans on our rate list for California at 3.625 percent with points and at 4.00 percent with no points.

Mortgage rates current on 15 year jumbo home loans are averaging 3.35 percent, up from an average 15 year jumbo mortgage rates of 3.33 percent. Before the end of the year we might possibly see average 15 year jumbo mortgage rates fall to 3.00 percent. You can already find 15 year jumbo mortgage rates below the average of 3.35 percent. Today's refinance rates on 15 year jumbo loans on our rate list of the state of Texas can be found as low as 3.00 percent with no points.

Average conforming 5 year adjustable mortgage rates are currently at 2.95 percent, an increase from an average 5 year adjustable mortgage rate of 2.89 percent. Right now on our 5 year adjustable refinance rates list for the state of Florida, Roundpoint Mortgage is offering 5 year adjustable refi rates at 1.875 percent with 2 points.

Current mortgage rates today on 5 year jumbo mortgage loans are averaging 2.84 percent, unchanged from last week's average 5 year jumbo adjustable mortgage rate. Right now on our 5 year jumbo adjustable refinance rates list for the state of New Jersey Diamond Funding is offering 5 year jumbo refinance rates at 2.375 percent with 1 mortgage point. Third Federal Savings and Loan is offering 5 year jumbo refinancing rates at 2.44 percent with no points.
 
Author: Brian McKay
September 17th, 2012