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Jumbo Mortgage Rates are Still Low Heading into 2016

Average 30 year jumbo mortgage rates had the largest weekly increase so far in 2015. 30 year jumbo rates averaged  4.67 percent, up 27 basis points from last week's average rate of 4.40 percent. Despite the large increase this week, there are still many lenders quoting 30 year jumbo rates below 4.00 percent.

On our rate table for the state of California, there are eight lenders quoting 30 year jumbo refinance rates below 4.00 percent. The lowest rate with points is at 3.50 percent from Carlyle Financial and erates mortgage. The lowest rate without points is at 3.75 percent from Star One Credit Union.

15 year jumbo mortgage rates today are currently averaging 4.21 percent, up from last week's average 15 year jumbo rate of 4.13 percent. We also have many lenders quoting 15 year jumbo refinance rates well below the average 15 year rate. The lowest 15 year rate on our rate table today is at 3.125 percent with no points from Star One Credit Union.

As with any credit union, you'll have to join Star One to apply for a mortgage. If you're not interested in joining, you can still get an incredibly low rate on our rate table. Amalgamated Bank is quoting 15 year jumbo rates at 3.125 percent with no points.

If you want to get an even lower rate, we have lenders quoting adjustable rates for 7 year, 5 year, and 3 year jumbo ARMs. The lowest 7 year jumbo adjustable rate available in our database is at 2.875 percent with 1.10 points. The lowest 5 year jumbo adjustable rate is at 2.625 percent with 1.10 points. The lowest 3 year jumbo adjustable rate is at 1.99 percent with zero points.

Feel free to search for the lowest mortgage rates in your state by searching our mortgage rate database at MonitorBankRates.com.







 
Author: Brian McKay
January 1st, 2016