Mortgage Applications Increase 7% on Weak GDP Report

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Applications for mortgage loans increased 7.1 percent in the latest Mortgage Application Survey released by the Mortgage Bankers Association. Loan volume was higher because of lower mortgage rates, driven lower on a weak 2nd quarter GDP report released July 29th.

The advance estimate for 2nd quarter GDP was expected to be 2.4 percent but the actual number came in much lower at 1.2 percent. As a result of the weak report, 10 year bond yields fell. Lenders set fixed long term mortgage rates to long term U.S. Treasury yields, so when yields fall, lenders lower mortgage rates.

The downturn in average mortgage rates was short-lived. A strong July Employment Report released last Friday sent mortgage rates higher this week. Nonfarm payrolls increased by 255,000 in July, much higher than the forecast of 180,000 jobs.

Despite the increase, average 30 year mortgage rates are less than 10 basis points above the all-time record low. 30 year mortgage rates today are currently averaging 3.40 percent, up from the prior week's average 30 year rate of 3.39 percent. The all-time record low average 30 year rates was 3.31 percent set in the fourth quarter of 2012.

Average 30 year rates are at 3.40 percent but lenders are quoting rates well below the average. Searching our rate tables for Florida, Sebonic Financial (NMLS # 66247) is quoting 30 year refinance rates at 3.125 percent with 1.10 mortgage points. The lowest 30 year rate without points is from AmCap Funding (NMLS # 324589) at 3.375 percent.

Current mortgage rates on 15 year loans are averaging 2.68 percent, up from the previous week's average 30 year rate of 2.66 percent. The lowest 15 year refi rate without points in our rate database for Florida is also from Sebonic Financial at 2.50 percent with 1.10 points. The lowest 15 year rate without points is from Grow Financial FCU at 2.697 percent.

You can search for and compare mortgage rates from many different lenders in your state by using our rate table. There is no need to provide any personal information or contact information to see a list of rates. Compare rates in your state at MortgageRates.MonitorBankRates.com.




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 Mortgage Loan from Ally Bank
Ally Bank
https://www.brimg.net/system/img/inst/10271_logo.gif
300000
Refinance
4.569
4.500
USD
Ally Bank Logo
NMLS # 181005
at 0.100 pts
30 day lock rate
Est payment: $1,520.06
Fees in APR: $2,122
Thanks for the inquiry! 
 
30 yr fixed Mortgage Loan from First Mortgage Direct
First Mortgage Direct
https://www.brimg.net/system/img/inst/10212_logo.gif
300000
Refinance
4.425
4.250
USD
First Mortgage Direct Logo
NMLS # 244476
State Lic # MC-5877
at 1.000 pts
30 day lock rate
Est payment: $1,475.82
Fees in APR: $3,164
 
 
30 yr fixed Mortgage Loan from Lenda, Inc.
Lenda, Inc.
https://www.brimg.net/system/img/inst/8792_logo.gif
300000
Refinance
4.217
4.125
USD
Lenda, Inc. Logo
at 0.100 pts
30 day lock rate
Est payment: $1,453.95
Fees in APR: $2,983
All online. No annoying phone calls. No paper. No hassles. 
 
30 yr fixed Mortgage Loan from Sol Mortgage
Sol Mortgage
https://www.brimg.net/system/img/inst/10262_logo.gif
300000
Refinance
4.246
4.210
USD
Sol Mortgage Logo
at 0.100 pts
30 day lock rate
Est payment: $1,468.80
Fees in APR: $1,000
Thanks for the inquiry! 
 
30 yr fixed Mortgage Loan from Sebonic Financial
Sebonic Financial
https://www.brimg.net/system/img/inst/8420_logo.gif
300000
Refinance
4.225
4.115
USD
Sebonic Financial Logo
NMLS # 66247
State Lic # MC-1825
at 0.100 pts
30 day lock rate
Est payment: $1,452.21
Fees in APR: $3,605
Thank you for your inquiry, we will be in touch shortly. 
 
30 yr fixed Mortgage Loan from CIT Bank
CIT Bank
https://www.brimg.net/system/img/inst/10026_logo.gif
300000
Refinance
4.379
4.275
USD
CIT Bank Logo
NMLS # 541760
(877) 341-6056
at 0.100 pts
45 day lock rate
Est payment: $1,480.21
Fees in APR: $3,365
Thank you for your inquiry! We look forward to working with you. 
 
30 yr fixed Mortgage Loan from ConsumerDirect Mortgage, a division of First Bank
ConsumerDirect Mortgage, a division of First Bank
https://www.brimg.net/system/img/inst/8087_logo.gif
300000
Refinance
4.356
4.125
USD
ConsumerDirect Mortgage, a division of First Bank Logo
NMLS # 472433
at 1.000 pts
30 day lock rate
Est payment: $1,453.95
Fees in APR: $5,141
 
30 yr fixed Mortgage Loan from HomeDirect Mortgage
HomeDirect Mortgage
https://www.brimg.net/system/img/inst/10447_logo.gif
300000
Refinance
4.510
4.375
USD
HomeDirect Mortgage Logo
NMLS # 403501
at 1.000 pts
30 day lock rate
Est payment: $1,497.86
Fees in APR: $1,725
 
 
30 yr fixed Mortgage Loan from Flagstar Bank
Flagstar Bank
https://www.brimg.net/system/img/inst/6546_logo.gif
300000
Refinance
4.462
4.375
USD
Flagstar Bank Logo
NMLS # 417490
at 0.100 pts
30 day lock rate
Est payment: $1,497.86
Fees in APR: $2,777
Thank you for your inquiry! 
 
30 yr fixed Mortgage Loan from First Mortgage Direct
First Mortgage Direct
https://www.brimg.net/system/img/inst/10212_logo.gif
300000
Refinance
4.500
4.500
USD
First Mortgage Direct Logo
NMLS # 244476
State Lic # MC-5877
at 0.000 pts
30 day lock rate
Est payment: $1,520.06
Fees in APR: None
 
 
30 yr fixed Mortgage Loan from Flagstar Bank
Flagstar Bank
https://www.brimg.net/system/img/inst/6546_logo.gif
300000
Refinance
4.654
4.625
USD
Flagstar Bank Logo
NMLS # 417490
at 0.000 pts
30 day lock rate
Est payment: $1,542.42
Fees in APR: $1,011
Thank you for your inquiry! 
 
30 yr fixed Mortgage Loan from Lenda, Inc.
Lenda, Inc.
https://www.brimg.net/system/img/inst/8792_logo.gif
300000
Refinance
4.375
4.375
USD
Lenda, Inc. Logo
at 0.000 pts
30 day lock rate
Est payment: $1,497.86
Fees in APR: None
All online. No annoying phone calls. No paper. No hassles. 
 
30 yr fixed Mortgage Loan from CIT Bank
CIT Bank
https://www.brimg.net/system/img/inst/10026_logo.gif
300000
Refinance
4.529
4.500
USD
CIT Bank Logo
NMLS # 541760
(877) 341-6056
at 0.000 pts
45 day lock rate
Est payment: $1,520.06
Fees in APR: $1,030
Thank you for your inquiry! We look forward to working with you. 
 
30 yr fixed Mortgage Loan from ConsumerDirect Mortgage, a division of First Bank
ConsumerDirect Mortgage, a division of First Bank
https://www.brimg.net/system/img/inst/8087_logo.gif
300000
Refinance
4.306
4.250
USD
ConsumerDirect Mortgage, a division of First Bank Logo
NMLS # 472433
at 0.000 pts
30 day lock rate
Est payment: $1,475.82
Fees in APR: $1,995
 
30 yr fixed Mortgage Loan from Sol Mortgage
Sol Mortgage
https://www.brimg.net/system/img/inst/10262_logo.gif
300000
Refinance
4.258
4.230
USD
Sol Mortgage Logo
at 0.000 pts
30 day lock rate
Est payment: $1,472.31
Fees in APR: $1,000
Thanks for the inquiry! 
 
30 yr fixed Mortgage Loan from Republic Bank
Republic Bank
https://www.brimg.net/system/img/inst/2248_logo.gif
300000
Refinance
4.400
4.375
USD
Republic Bank Logo
at 0.000 pts
45 day lock rate
Est payment: $1,497.86
Fees in APR: $895
 
 
30 yr fixed Mortgage Loan from HomeDirect Mortgage
HomeDirect Mortgage
https://www.brimg.net/system/img/inst/10447_logo.gif
300000
Refinance
4.500
4.500
USD
HomeDirect Mortgage Logo
NMLS # 403501
at 0.000 pts
30 day lock rate
Est payment: $1,520.06
Fees in APR: None
 
 
30 yr fixed Mortgage Loan from Ally Bank
Ally Bank
https://www.brimg.net/system/img/inst/10271_logo.gif
300000
Refinance
4.640
4.625
USD
Ally Bank Logo
NMLS # 181005
at 0.000 pts
30 day lock rate
Est payment: $1,542.42
Fees in APR: $507
Thanks for the inquiry! 
 
30 yr fixed Mortgage Loan from LoanLock
LoanLock
https://www.brimg.net/system/img/inst/9948_logo.gif
300000
Refinance
4.375
4.375
USD
LoanLock Logo
at 0.000 pts
30 day lock rate
Est payment: $1,497.86
Fees in APR: None
 
 
30 yr fixed Mortgage Loan from JG Wentworth Home Lending
JG Wentworth Home Lending
https://www.brimg.net/system/img/inst/10054_logo.gif
300000
Refinance
4.499
4.490
USD
JG Wentworth Home Lending Logo
NMLS # 2925
State Lic # MC-1875
at 0.000 pts
45 day lock rate
Est payment: $1,518.27
Fees in APR: $299
 
 
30 yr fixed Mortgage Loan from Sebonic Financial
Sebonic Financial
https://www.brimg.net/system/img/inst/8420_logo.gif
300000
Refinance
4.374
4.365
USD
Sebonic Financial Logo
NMLS # 66247
State Lic # MC-1825
at 0.000 pts
30 day lock rate
Est payment: $1,496.09
Fees in APR: $320
Thank you for your inquiry, we will be in touch shortly. 
 
30 yr fixed Mortgage Loan from ConsumerDirect Mortgage, a division of First Bank
ConsumerDirect Mortgage, a division of First Bank
https://www.brimg.net/system/img/inst/8087_logo.gif
300000
Refinance
4.246
3.875
USD
ConsumerDirect Mortgage, a division of First Bank Logo
NMLS # 472433
at 2.000 pts
30 day lock rate
Est payment: $1,410.71
Fees in APR: $7,084
 
30 yr fixed Mortgage Loan from Flagstar Bank
Flagstar Bank
https://www.brimg.net/system/img/inst/6546_logo.gif
300000
Refinance
4.405
4.250
USD
Flagstar Bank Logo
NMLS # 417490
at 1.100 pts
30 day lock rate
Est payment: $1,475.82
Fees in APR: $2,141
Thank you for your inquiry! 
 
30 yr fixed Mortgage Loan from Lenda, Inc.
Lenda, Inc.
https://www.brimg.net/system/img/inst/8792_logo.gif
300000
Refinance
4.144
4.000
USD
Lenda, Inc. Logo
at 1.100 pts
30 day lock rate
Est payment: $1,432.25
Fees in APR: $1,855
All online. No annoying phone calls. No paper. No hassles. 
 
30 yr fixed Mortgage Loan from Ally Bank
Ally Bank
https://www.brimg.net/system/img/inst/10271_logo.gif
300000
Refinance
4.494
4.375
USD
Ally Bank Logo
NMLS # 181005
at 1.100 pts
30 day lock rate
Est payment: $1,497.86
Fees in APR: $887
Thanks for the inquiry! 
 
30 yr fixed Mortgage Loan from CIT Bank
CIT Bank
https://www.brimg.net/system/img/inst/10026_logo.gif
300000
Refinance
4.307
4.150
USD
CIT Bank Logo
NMLS # 541760
(877) 341-6056
at 1.100 pts
45 day lock rate
Est payment: $1,458.31
Fees in APR: $2,265
Thank you for your inquiry! We look forward to working with you. 
 
30 yr fixed Mortgage Loan from Sol Mortgage
Sol Mortgage
https://www.brimg.net/system/img/inst/10262_logo.gif
300000
Refinance
9.542
9.125
USD
Sol Mortgage Logo
at 1.100 pts
30 day lock rate
Est payment: $2,440.90
Fees in APR: $7,474
Thanks for the inquiry! 
 
30 yr fixed Mortgage Loan from Sebonic Financial
Sebonic Financial
https://www.brimg.net/system/img/inst/8420_logo.gif
300000
Refinance
4.160
3.990
USD
Sebonic Financial Logo
NMLS # 66247
State Lic # MC-1825
at 1.100 pts
30 day lock rate
Est payment: $1,430.52
Fees in APR: $2,777
Thank you for your inquiry, we will be in touch shortly. 
 
30 yr fixed mtg refi Mortgage Loan from Fulton Bank, NA
Fulton Bank, NA
300000
Refinance
4.790
4.750
USD
Fulton Bank, NA
4.790%
8/14/2018
4.750%
at 0.125 pts
60 day lock rate
Est payment: $1,564.94
Fees in APR: $1,007
 
 
30 yr fixed mtg refi Mortgage Loan from Citizens Bank, NA
Citizens Bank, NA
300000
Refinance
4.687
4.625
USD
Citizens Bank, NA
4.687%
8/17/2018
4.625%
at 0.250 pts
60 day lock rate
Est payment: $1,542.42
Fees in APR: $1,408
 
 
30 yr fixed mtg refi Mortgage Loan from TD Bank, NA
TD Bank, NA
300000
Refinance
4.528
4.500
USD
TD Bank, NA
4.528%
8/17/2018
4.500%
at 0.000 pts
45 day lock rate
Est payment: $1,520.06
Fees in APR: $982
 
 
30 yr fixed mtg refi Mortgage Loan from Bank of America
Bank of America
300000
Refinance
4.493
4.375
USD
Bank of America
4.493%
8/15/2018
4.375%
at 0.946 pts
60 day lock rate
Est payment: $1,497.86
Fees in APR: $1,289
 
 
30 yr fixed mtg refi Mortgage Loan from State Department Federal Credit Union
State Department Federal Credit Union
300000
Refinance
4.557
4.500
USD
State Department Federal Credit Union
4.557%
8/13/2018
4.500%
at 0.000 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $2,000
 
 
30 yr fixed mtg refi Mortgage Loan from Raymond James Bank, NA
Raymond James Bank, NA
300000
Refinance
4.913
4.875
USD
Raymond James Bank, NA
4.913%
8/14/2018
4.875%
at 0.000 pts
45 day lock rate
Est payment: $1,587.62
Fees in APR: $1,299
 
 
30 yr fixed mtg refi Mortgage Loan from Virginia Credit Union
Virginia Credit Union
300000
Refinance
4.771
4.625
USD
Virginia Credit Union
4.771%
8/14/2018
4.625%
at 1.125 pts
45 day lock rate
Est payment: $1,542.42
Fees in APR: $1,650
 
 
30 yr fixed mtg refi Mortgage Loan from Northwest Federal Credit Union
Northwest Federal Credit Union
300000
Refinance
4.796
4.750
USD
Northwest Federal Credit Union
4.796%
8/15/2018
4.750%
at 0.500 pts
45 day lock rate
Est payment: $1,564.94
Fees in APR: $79
 
 
30 yr fixed mtg refi Mortgage Loan from Bank of Oak Ridge
Bank of Oak Ridge
300000
Refinance
4.671
4.625
USD
Bank of Oak Ridge
4.671%
8/16/2018
4.625%
at 0.250 pts
60 day lock rate
Est payment: $1,542.42
Fees in APR: $853
 
 
30 yr fixed mtg refi Mortgage Loan from The Fidelity Bank
The Fidelity Bank
300000
Refinance
4.900
4.875
USD
The Fidelity Bank
4.900%
8/17/2018
4.875%
at 0.000 pts
30 day lock rate
Est payment: $1,587.62
Fees in APR: $863
 
 
30 yr fixed mtg refi Mortgage Loan from LincolnWay Community Bank
LincolnWay Community Bank
300000
Refinance
4.656
4.625
USD
LincolnWay Community Bank
4.656%
8/14/2018
4.625%
at 0.000 pts
30 day lock rate
Est payment: $1,542.42
Fees in APR: $1,085
 
 
30 yr fixed mtg refi Mortgage Loan from Santander Bank, N.A.
Santander Bank, N.A.
300000
Refinance
4.808
4.750
USD
Santander Bank, N.A.
4.808%
8/16/2018
4.750%
at 0.000 pts
60 day lock rate
Est payment: $1,564.94
Fees in APR: $2,004
 
 
30 yr fixed mtg refi Mortgage Loan from Langley FCU
Langley FCU
300000
Refinance
4.889
4.875
USD
Langley FCU
4.889%
8/17/2018
4.875%
at 0.000 pts
30 day lock rate
Est payment: $1,587.62
Fees in APR: $495
 
 

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
August 10th, 2016