Lower Mortgage Rates Today: 30 Year Conventional Rates Averaging 4.27 Percent

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Mortgage rates have drifted lower for the past several weeks. Average 30 year mortgage rates today are at 4.27 percent, a decline from last week's average 30 year rate of 4.29 percent. Mortgage rates have followed 10 year bond yields lower which are averaging 2.62 percent today.

It will be interesting to see where rates are in the next couple of weeks. The government shutdown hasn't had an effect on bond rates, which in turn hasn't affected mortgage rates but the coming debt ceiling limit is another matter. The official date the U.S. Treasury says we will hit the debt limit is October 17 but it may happen sooner.
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 Better.com
Better.com
https://www.brimg.net/system/img/inst/9722_logo.gif
300000
Refinance
4.125
4.125
USD
Better.com Logo
NMLS # 330511
State Lic # ML-330511
at 0.000 pts
30 day lock rate
Est payment: $1,453.95
Fees in APR: None
Thank you for your quote. 
 
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%
4/19/2019
4.500%
at 0.250 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $500
 
 
30 yr fixed mtg refi Mortgage Loan from Liberty Bank
Liberty Bank
300000
Refinance
4.169
4.125
USD
Liberty Bank
4.169%
4/19/2019
4.125%
at 0.250 pts
60 day lock rate
Est payment: $1,453.95
Fees in APR: $814
 
 
30 yr fixed mtg refi Mortgage Loan from Union Savings Bank
Union Savings Bank
300000
Refinance
4.399
4.375
USD
Union Savings Bank
4.399%
4/12/2019
4.375%
at 0.000 pts
60 day lock rate
Est payment: $1,497.86
Fees in APR: $852
 
 
30 yr fixed mtg refi Mortgage Loan from Santander Bank, N.A.
Santander Bank, N.A.
300000
Refinance
4.557
4.500
USD
Santander Bank, N.A.
4.557%
4/19/2019
4.500%
at 0.000 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $2,004
 
 
30 yr fixed mtg refi Mortgage Loan from The Washington Trust Company
The Washington Trust Company
300000
Refinance
4.155
4.125
USD
The Washington Trust Company
4.155%
4/16/2019
4.125%
at 0.000 pts
30 day lock rate
Est payment: $1,453.95
Fees in APR: $1,083
 
 
30 yr fixed mtg refi Mortgage Loan from LincolnWay Community Bank
LincolnWay Community Bank
300000
Refinance
4.155
4.125
USD
LincolnWay Community Bank
4.155%
4/16/2019
4.125%
at 0.000 pts
30 day lock rate
Est payment: $1,453.95
Fees in APR: $1,085
 
 
30 yr fixed mtg refi Mortgage Loan from The Guilford Savings Bank
The Guilford Savings Bank
300000
Refinance
4.291
4.250
USD
The Guilford Savings Bank
4.291%
4/19/2019
4.250%
at 0.250 pts
60 day lock rate
Est payment: $1,475.82
Fees in APR: $719
 
 
30 yr fixed mtg refi Mortgage Loan from First National Bank of Omaha
First National Bank of Omaha
300000
Refinance
4.575
4.500
USD
First National Bank of Omaha
4.575%
4/19/2019
4.500%
at 0.625 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $752
 
 
30 yr fixed mtg refi Mortgage Loan from Savings Bank of Danbury
Savings Bank of Danbury
300000
Refinance
4.397
4.375
USD
Savings Bank of Danbury
4.397%
4/19/2019
4.375%
at 0.000 pts
60 day lock rate
Est payment: $1,497.86
Fees in APR: $790
 
 
30 yr fixed mtg refi Mortgage Loan from Citizens Bank, NA
Citizens Bank, NA
300000
Refinance
4.403
4.375
USD
Citizens Bank, NA
4.403%
4/19/2019
4.375%
at 0.000 pts
60 day lock rate
Est payment: $1,497.86
Fees in APR: $998
 
 
30 yr fixed mtg refi Mortgage Loan from TD Bank, NA
TD Bank, NA
300000
Refinance
4.154
4.125
USD
TD Bank, NA
4.154%
4/16/2019
4.125%
at 0.000 pts
45 day lock rate
Est payment: $1,453.95
Fees in APR: $1,043
 
 
30 yr fixed mtg refi Mortgage Loan from United Bank
United Bank
300000
Refinance
4.276
4.250
USD
United Bank
4.276%
4/16/2019
4.250%
at 0.000 pts
30 day lock rate
Est payment: $1,475.82
Fees in APR: $911
 
 
30 yr fixed mtg refi Mortgage Loan from Bank of America
Bank of America
300000
Refinance
4.365
4.250
USD
Bank of America
4.365%
4/15/2019
4.250%
at 0.903 pts
60 day lock rate
Est payment: $1,475.82
Fees in APR: $1,351
 
 

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.





Debt Ceiling Breach Would Send Mortgage Rates Tumbling


If an agreement is made between Republicans and Democrats to increase the borrowing limit of the U.S. Government, bond rates and mortgage rates will remain around current levels. If the debt ceiling isn't increased and the U.S. defaults, believe it or not bond rates will tumble in the short term which would send mortgage rates sharply lower.

Any other country other than the United States defaulting on its debt would send bond rates for that country through the roof. In the short term, bond rates would plummet on U.S. Treasuries because there would be a classic flight to quality. Equity markets would plummet and most commodity prices (except gold) would plummet, sending investors into the safety of U.S. bonds.

Rates on bonds work in inverse to bond prices, so when prices move higher, rates move lower and vice versa. Investors would flee equity markets, commodity markets, and debt from most other countries. All this money would have to go somewhere and most of it would end up buying U.S. bonds.

In the long run if the United States didn't pay its bills, then yes, U.S. bond rates would soar but everyone knows this scenario won't play out. Even if the debt ceiling is breached, politicians would finally get their act together and pass an increase so the default would be a short-term crisis.

Lower Mortgage Rates Today 30 Year Conventional Rates Averaging 4.27 PercentFixed Conforming Mortgage Rates Today


30 year mortgage rates are averaging 4.27 percent today and probably will stay around current levels until the debt ceiling limit is reached or a deal is made between Democrats and Republicans. If  no deal is made and the ceiling is breached, average 30 year mortgage rates will fall back under 4.00 percent.

If you're looking for a loan, you don't have to wait for average rates to move back under 4.00 percent because there are many lenders already offering rates below 4.00 percent. The lowest 30 year mortgage refinance rates right now in our rate database are at 3.625 percent with 2 mortgage points. The lowest 30 year rates without points are available at 3.875 percent, still under 4.00 percent!

Current mortgage rates on 15 year conventional loans are averaging 3.33 percent this week, a decline from the previous week's average 15 year mortgage rate of 3.35 percent. A default on the nations debt would send 10 year bond rates down towards 2.00 percent which would send 15 year mortgage rates back under 3.00 percent.

As with 30 year rates, we also have lenders currently offering 15 year rates under 3.00 percent. 15 year refinance rates today in our database are available at 2.75 percent with 1.875 mortgage points. We also have many lenders quoting 15 year refinancing rates at 2.75 percent with 2 points. The lowest 15 year refi rates without points are exactly at 3.00 percent.

Today's Jumbo Mortgage Rates


Today's mortgage rates on 30 year jumbo loans are averaging 4.57 percent, a decline from last week's average 30 year jumbo mortgage rate of 4.65 percent. A debt default would send 30 year jumbo rates back under 4.50 percent and probably down to the 4.25 percent range.

Right now the lowest 30 year jumbo mortgage interest rates in our database are still under 4.00 percent. We have one lender, Capital One, quoting 30 year jumbo refinance rates at 3.75 percent with 2 mortgage points. The lowest 30 year jumbo rates without points at 4.125 percent is also from the same lender.

Average 15 year jumbo rates are currently at 3.88 percent, down from last week's average 15 year jumbo rate of 3.93 percent. A debt default would send 15 year jumbo rates down to the 3.50 percent range. Currently, the lowest 15 year jumbo refi rates in our database being offered are at 3.125 percent with 2 points and at 3.50 percent with no points.
 
Author: Brian McKay
October 3rd, 2013