Mortgage Rates and Home Sales Dip as Home Prices Rise

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Over the past month, average mortgage rates trended higher as news of stronger growth has sent U.S. Treasury yields higher. The increase in rates has been small and average rates are still just above record lows set in November of 2012. Mortgage rates today on 30 year conventional home loans are averaging 3.61 percent, a slight increase from last week's average 30 year mortgage rate of 3.60 percent.

Record low rates and the highest home affordability in 40 years has finally helped the housing market recover from the worst bust since the depression. The National Association of Realtors reported existing home sales index took a dip in December 2012 but are still well above levels from a year ago as buyers are back in the market snapping up homes.
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 Lending.com
Lending.com
https://www.brimg.net/system/img/inst/9139_logo.gif
300000
Refinance
4.190
4.125
USD
Lending.com Logo
NMLS # 1071
State Lic # MC-1772
(877) 387 - 4811
at 0.100 pts
30 day lock rate
Est payment: $1,453.95
Fees in APR: $2,036
Thank you for your inquiry, we will be in touch shortly. 
 
30 yr fixed Mortgage Loan from E-Click Lending
E-Click Lending
https://www.brimg.net/system/img/inst/4213_logo.gif
300000
Refinance
4.981
4.750
USD
E-Click Lending Logo
NMLS # 227765
State Lic # MC-5920
(877) 387 - 3899
at 1.000 pts
30 day lock rate
Est payment: $1,564.94
Fees in APR: $4,835
 
 
30 yr fixed Mortgage Loan from Sebonic Financial
Sebonic Financial
https://www.brimg.net/system/img/inst/8420_logo.gif
300000
Refinance
4.092
3.990
USD
Sebonic Financial Logo
NMLS # 66247
State Lic # MC-1825
(877) 388 - 9671
at 0.100 pts
30 day lock rate
Est payment: $1,430.52
Fees in APR: $3,374
Thank you for your inquiry, we will be in touch shortly. 
 
30 yr fixed Mortgage Loan from Lending.com
Lending.com
https://www.brimg.net/system/img/inst/9139_logo.gif
300000
Refinance
4.262
4.250
USD
Lending.com Logo
NMLS # 1071
State Lic # MC-1772
(877) 387 - 4811
at 0.000 pts
30 day lock rate
Est payment: $1,475.82
Fees in APR: $443
Thank you for your inquiry, we will be in touch shortly. 
 
30 yr fixed Mortgage Loan from E-Click Lending
E-Click Lending
https://www.brimg.net/system/img/inst/4213_logo.gif
300000
Refinance
5.054
5.000
USD
E-Click Lending Logo
NMLS # 227765
State Lic # MC-5920
(877) 387 - 3899
at 0.000 pts
30 day lock rate
Est payment: $1,610.46
Fees in APR: $1,825
 
 
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
4.375
4.375
USD
JG Wentworth Home Lending Logo
NMLS # 2925
State Lic # MC-1875
at 0.000 pts
45 day lock rate
Est payment: $1,497.86
Fees in APR: None
 
 
30 yr fixed Mortgage Loan from Sebonic Financial
Sebonic Financial
https://www.brimg.net/system/img/inst/8420_logo.gif
300000
Refinance
4.253
4.240
USD
Sebonic Financial Logo
NMLS # 66247
State Lic # MC-1825
(877) 388 - 9671
at 0.000 pts
30 day lock rate
Est payment: $1,474.06
Fees in APR: $479
Thank you for your inquiry, we will be in touch shortly. 
 
30 yr fixed Mortgage Loan from Citibank, N. A.
Citibank, N. A.
https://www.brimg.net/system/img/inst/8189_logo.gif
300000
Refinance
4.672
4.625
USD
Citibank, N. A. Logo
NMLS # 412915
(877) 387 - 1820
at 0.000 pts
60 day lock rate
Est payment: $1,542.42
Fees in APR: $1,635
 
 
30 yr fixed Mortgage Loan from E-Click Lending
E-Click Lending
https://www.brimg.net/system/img/inst/4213_logo.gif
300000
Refinance
4.795
4.375
USD
E-Click Lending Logo
NMLS # 227765
State Lic # MC-5920
(877) 387 - 3899
at 2.000 pts
30 day lock rate
Est payment: $1,497.86
Fees in APR: $8,349
 
 
30 yr fixed Mortgage Loan from Lending.com
Lending.com
https://www.brimg.net/system/img/inst/9139_logo.gif
300000
Refinance
4.030
3.875
USD
Lending.com Logo
NMLS # 1071
State Lic # MC-1772
(877) 387 - 4811
at 1.100 pts
30 day lock rate
Est payment: $1,410.71
Fees in APR: $2,288
Thank you for your inquiry, we will be in touch shortly. 
 
30 yr fixed Mortgage Loan from Sebonic Financial
Sebonic Financial
https://www.brimg.net/system/img/inst/8420_logo.gif
300000
Refinance
4.021
3.865
USD
Sebonic Financial Logo
NMLS # 66247
State Lic # MC-1825
(877) 388 - 9671
at 1.100 pts
30 day lock rate
Est payment: $1,409.00
Fees in APR: $2,327
Thank you for your inquiry, we will be in touch shortly. 
 
30 yr fixed mtg refi Mortgage Loan from Bank of Oak Ridge
Bank of Oak Ridge
300000
Refinance
4.304
4.250
USD
Bank of Oak Ridge
4.304%
2/14/2019
4.250%
at 0.353 pts
60 day lock rate
Est payment: $1,475.82
Fees in APR: $853
 
 
30 yr fixed mtg refi Mortgage Loan from Fulton Bank, NA
Fulton Bank, NA
300000
Refinance
4.686
4.625
USD
Fulton Bank, NA
4.686%
2/19/2019
4.625%
at 0.375 pts
60 day lock rate
Est payment: $1,542.42
Fees in APR: $1,007
 
 
30 yr fixed mtg refi Mortgage Loan from Bank of America
Bank of America
300000
Refinance
4.326
4.250
USD
Bank of America
4.326%
2/13/2019
4.250%
at 0.472 pts
60 day lock rate
Est payment: $1,475.82
Fees in APR: $1,289
 
 
30 yr fixed mtg refi Mortgage Loan from Santander Bank, N.A.
Santander Bank, N.A.
300000
Refinance
4.683
4.625
USD
Santander Bank, N.A.
4.683%
2/19/2019
4.625%
at 0.000 pts
60 day lock rate
Est payment: $1,542.42
Fees in APR: $2,004
 
 
30 yr fixed mtg refi Mortgage Loan from Apple Federal Credit Union
Apple Federal Credit Union
300000
Refinance
4.596
4.500
USD
Apple Federal Credit Union
4.596%
2/13/2019
4.500%
at 1.000 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $352
 
 
30 yr fixed mtg refi Mortgage Loan from LincolnWay Community Bank
LincolnWay Community Bank
300000
Refinance
4.406
4.375
USD
LincolnWay Community Bank
4.406%
2/19/2019
4.375%
at 0.000 pts
30 day lock rate
Est payment: $1,497.86
Fees in APR: $1,085
 
 
30 yr fixed mtg refi Mortgage Loan from Virginia Credit Union
Virginia Credit Union
300000
Refinance
4.465
4.375
USD
Virginia Credit Union
4.465%
2/19/2019
4.375%
at 0.500 pts
45 day lock rate
Est payment: $1,497.86
Fees in APR: $1,650
 
 
30 yr fixed mtg refi Mortgage Loan from Raymond James Bank, NA
Raymond James Bank, NA
300000
Refinance
4.662
4.625
USD
Raymond James Bank, NA
4.662%
2/19/2019
4.625%
at 0.000 pts
45 day lock rate
Est payment: $1,542.42
Fees in APR: $1,299
 
 
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%
2/18/2019
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 Northwest Federal Credit Union
Northwest Federal Credit Union
300000
Refinance
4.545
4.500
USD
Northwest Federal Credit Union
4.545%
2/13/2019
4.500%
at 0.500 pts
45 day lock rate
Est payment: $1,520.06
Fees in APR: $79
 
 
30 yr fixed mtg refi Mortgage Loan from Citizens Bank, NA
Citizens Bank, NA
300000
Refinance
4.665
4.625
USD
Citizens Bank, NA
4.665%
2/15/2019
4.625%
at 0.000 pts
60 day lock rate
Est payment: $1,542.42
Fees in APR: $1,408
 
 

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.






December's existing home sales, which are completed transactions that include single-family homes, town homes, condominiums and co-ops, declined 1.0 percent to a seasonally adjusted annual rate of 4.94 million. Home sales this December are 12.8 percent higher than last year when sales at 4.38 million.

Lawrence Yun, The NAR's Chief Economist had the following comments about the December report:
Record low mortgage interest rates clearly are helping many home buyers, but tight inventory and restrictive mortgage underwriting standards are limiting sales," he said. "The number of potential buyers who stayed on the sidelines accumulated during the recession, but they started entering the market early last year as their financial ability and confidence steadily grew, along with home prices. Likely job creation and household formation will continue to fuel that growth. Both sales and prices will again be higher in 2013.

Home prices increased in December, which is the tenth consecutive month of year over year home price gains. The national median existing-home price for all housing types was $180,800 in December, 11.5 percent above December 2011. The last time we saw ten consecutive months of an increase in prices was from August 2005 to May 2006 - the end of the housing boom.

Low refinance rates have also created a boom in housing refinancing as homeowners take advantage of the lowest rates in a generation. Freddie Mac recently reported homeowners on average got a refinance rate 1.8 percent lower when refinancing. Another interesting fact in Freddie Mac's report is 84 percent of homeowners refinancing either maintained or reduced their principal balance. This is a reversal from the housing boom era when the home was seen as a piggy bank to take money from when refinancing.

You can watch Lawrence Yun discuss home sales and home prices in this video:

 
Author: Brian McKay
February 10th, 2013