Current Mortgage Rates Hit New Low in 2014

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Mortgage rates on 30 year conventional home loans hit a new low for 2014. Average 30 year mortgage rates are currently at 4.18 percent, a decline from last week's average 30 year mortgage rate of 4.22 percent. Mortgage rates are lower this year because long term bond rates have fallen. 10 year bond yields were just over 3.00 percent in early January and are now at 2.50 percent.

Interest rates were forecasted to move higher this year - average 30 year mortgage rates were forecasted to increase to 5.00 percent by the end of the year. Mortgage rates today are a lot closer to 4.00 percent, so the 5.00 percent forecast by the end of the year looks less likely. A great deal depends on how quickly the economy grows this year and if inflation picks up from the currently low rate.
Loan Type
Purchase    Refinance
Location
State/City    Zip Code
Loan Amt Points FICO % Down
  
$
30 yr fixed refi in 06101, All points, Credit score: 740+     Sort by:
Lender
APR
Rate
Cost & Fees
Notes
 
30 yr fixed Mortgage Loan from Garden State Home Loans
Garden State Home Loans
https://www.brimg.net/system/img/inst/7950_logo.gif
300000
Refinance
3.720
3.624
USD
Garden State Home Loans Logo
NMLS # 473163
State Lic # ML-473163
(877) 387 - 9107
at 0.100 pts
30 day lock rate
Est payment: $1,367.99
Fees in APR: $3,210
Thanks for the inquiry! 
 
30 yr fixed Mortgage Loan from Garden State Home Loans
Garden State Home Loans
https://www.brimg.net/system/img/inst/7950_logo.gif
300000
Refinance
3.874
3.874
USD
Garden State Home Loans Logo
NMLS # 473163
State Lic # ML-473163
(877) 387 - 9107
at 0.000 pts
30 day lock rate
Est payment: $1,410.54
Fees in APR: None
Thanks for the inquiry! 
 
30 yr fixed Mortgage Loan from Better.com
Better.com
https://www.brimg.net/system/img/inst/9722_logo.gif
300000
Refinance
4.000
4.000
USD
Better.com Logo
NMLS # 330511
State Lic # ML-330511
at 0.000 pts
30 day lock rate
Est payment: $1,432.25
Fees in APR: None
Thank you for your quote. 
 
30 yr fixed Mortgage Loan from Garden State Home Loans
Garden State Home Loans
https://www.brimg.net/system/img/inst/7950_logo.gif
300000
Refinance
9.490
9.125
USD
Garden State Home Loans Logo
NMLS # 473163
State Lic # ML-473163
(877) 387 - 9107
at 1.100 pts
30 day lock rate
Est payment: $2,440.90
Fees in APR: $6,153
Thanks for the inquiry! 
 
30 yr fixed mtg refi Mortgage Loan from Bank of America
Bank of America
300000
Refinance
4.087
4.000
USD
Bank of America
4.087%
5/24/2019
4.000%
at 0.590 pts
60 day lock rate
Est payment: $1,432.25
Fees in APR: $1,351
 
 
30 yr fixed mtg refi Mortgage Loan from Savings Bank of Danbury
Savings Bank of Danbury
300000
Refinance
4.147
4.125
USD
Savings Bank of Danbury
4.147%
5/24/2019
4.125%
at 0.000 pts
60 day lock rate
Est payment: $1,453.95
Fees in APR: $790
 
 
30 yr fixed mtg refi Mortgage Loan from First National Bank of Omaha
First National Bank of Omaha
300000
Refinance
4.783
4.750
USD
First National Bank of Omaha
4.783%
5/24/2019
4.750%
at 0.125 pts
60 day lock rate
Est payment: $1,564.94
Fees in APR: $752
 
 
30 yr fixed mtg refi Mortgage Loan from TD Bank, NA
TD Bank, NA
300000
Refinance
4.029
4.000
USD
TD Bank, NA
4.029%
5/21/2019
4.000%
at 0.000 pts
45 day lock rate
Est payment: $1,432.25
Fees in APR: $1,043
 
 
30 yr fixed mtg refi Mortgage Loan from Citizens Bank, NA
Citizens Bank, NA
300000
Refinance
4.405
4.375
USD
Citizens Bank, NA
4.405%
5/17/2019
4.375%
at 0.000 pts
60 day lock rate
Est payment: $1,497.86
Fees in APR: $1,056
 
 
30 yr fixed mtg refi Mortgage Loan from The Guilford Savings Bank
The Guilford Savings Bank
300000
Refinance
4.041
4.000
USD
The Guilford Savings Bank
4.041%
5/24/2019
4.000%
at 0.250 pts
60 day lock rate
Est payment: $1,432.25
Fees in APR: $719
 
 
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 Union Savings Bank
Union Savings Bank
300000
Refinance
4.274
4.250
USD
Union Savings Bank
4.274%
5/24/2019
4.250%
at 0.000 pts
60 day lock rate
Est payment: $1,475.82
Fees in APR: $852
 
 
30 yr fixed mtg refi Mortgage Loan from UniBank for Savings
UniBank for Savings
300000
Refinance
4.536
4.500
USD
UniBank for Savings
4.536%
5/24/2019
4.500%
at 0.250 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $501
 
 
30 yr fixed mtg refi Mortgage Loan from Santander Bank, N.A.
Santander Bank, N.A.
300000
Refinance
4.306
4.250
USD
Santander Bank, N.A.
4.306%
5/23/2019
4.250%
at 0.000 pts
60 day lock rate
Est payment: $1,475.82
Fees in APR: $2,004
 
 
30 yr fixed mtg refi Mortgage Loan from The Washington Trust Company
The Washington Trust Company
300000
Refinance
4.030
4.000
USD
The Washington Trust Company
4.030%
5/21/2019
4.000%
at 0.000 pts
30 day lock rate
Est payment: $1,432.25
Fees in APR: $1,083
 
 
30 yr fixed mtg refi Mortgage Loan from United Bank
United Bank
300000
Refinance
4.149
4.125
USD
United Bank
4.149%
5/21/2019
4.125%
at 0.000 pts
30 day lock rate
Est payment: $1,453.95
Fees in APR: $865
 
 
30 yr fixed mtg refi Mortgage Loan from Liberty Bank
Liberty Bank
300000
Refinance
4.169
4.125
USD
Liberty Bank
4.169%
5/24/2019
4.125%
at 0.250 pts
60 day lock rate
Est payment: $1,453.95
Fees in APR: $814
 
 

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.






Current mortgage rates are likely to be the low for the year, so if you're looking to buy a home you should lock in a mortgage rate now. If you're looking to refinance your current mortgage now is the time to do so. Average 30 year mortgage rates are still above 4.00 percent but there are many lenders quoting 30 year refinance rates below 4.00 percent.

Today's mortgage rates on 15 year conforming loans have also hit a new low for 2014. Average 15 year mortgage rates are at 3.23 percent, down from the previous week's low of 3.27 percent. There are plenty of lenders quoting 15 year rates below the average and if you're willing to pay points on a loan, the best 15 year mortgage rates available are at 2.75 percent.

While conforming rates have hit new lows this past week, jumbo mortgage rates haven't. Current 30 year jumbo mortgage rates are averaging 4.83 percent, down from last week's average 30 year jumbo rate of 4.88 percent. Average jumbo rates hit a low of 4.33 percent back on Valentine's Day but have since been higher.

Mortgage rates today on 15 year jumbo loans are averaging 4.06 percent, down from the prior week's average 15 year jumbo mortgage rate of 4.09 percent. The second week of February average 15 year jumbo rates were much lower at 3.67 percent but you can still find lenders quoting rates much lower. The lowest 15 year jumbo refinance rates available with points are at 3.125 percent.

Conforming 5 year adjustable mortgage rates are averaging 3.27 percent, a slight increase from last week's average 5 year adjustable rate of 3.26 percent. The best adjustable rates available are well below the average rate and if you're willing to pay points you can find lenders quoting 5 year adjustable refinance rates as low as 2.25 percent.

5 year jumbo adjustable rates are slightly lower this week averaging 3.36 percent, down from last week's average 5 year jumbo rate of 3.38 percent. The lowest 5 year jumbo adjustable refinance rates with points quoted by lenders are also much lower at 2.25 percent.
 
Author: Brian McKay
May 20th, 2014