Mortgage Rates are Even Lower This Week

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Mortgage rates are lower again this week, continuing the downtrend into 2016. Thankfully, mortgage rates are not climbing as a result of the Fed raising the fed funds rate. Average 30 year conforming rates fell to a new low for 2016, averaging 3.73 percent. 30 year rates are down from last week's average of 3.80 percent.

During the past week, we have seen lenders listed in the database offer 30 year conforming refinance rates as low as 3.375 percent with points. The lowest 30 year rates without points offered was also below the average at 3.625 percent. Lenders are currently offering those lowest rates today.

Mortgage Rate Report 1-18-2016Mortgage rates today on 15 year conforming loans declined sharply this past week. Average 15 year rates are at 2.88 percent, down from the prior week's average 15 year rate of 3.00 percent. The lowest 15 year refinance rates with points currently available are at 2.50 percent and at 2.75 percent without points.

5 year conventional adjustable mortgage rates are down to 3.00 percent this week, a decline from last week's average of 3.12 percent. The best 5 year adjustable refinance rates in our database this week were at 2.25 percent with points and at 2.625 percent without points.

Weekly Mortgage Rates Report Jan 18 201630 year jumbo mortgage rates are currently averaging 4.15 percent, down a whopping 27 basis points from last week's average rate. The lowest 30 year jumbo refinance rates in the database are at 3.125 percent with points and at 3.50 percent without points.

Current 15 year jumbo rates are at 4.23 percent, a decline from last week's average rate of 4.37 percent. The lowest 15 year jumbo refinance rates in the database are currently at 2.75 percent with points and at 2.875 percent without points.

Average 5 year jumbo adjustable rates are at 3.80 percent, a decline from the prior week's average rate of 3.94 percent. The lowest 5 year jumbo rates available in the database are much lower at 2.125 percent with points and at 2.65 percent without points.

You can see a list of lenders mortgage rates in the state you live in by searching our database of rates at 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 mtg refi Mortgage Loan from Bank of America
Bank of America
300000
Refinance
4.244
4.125
USD
Bank of America
4.244%
3/13/2019
4.125%
at 0.983 pts
60 day lock rate
Est payment: $1,453.95
Fees in APR: $1,289
 
 
30 yr fixed mtg refi Mortgage Loan from TD Bank, NA
TD Bank, NA
300000
Refinance
4.152
4.125
USD
TD Bank, NA
4.152%
3/15/2019
4.125%
at 0.000 pts
45 day lock rate
Est payment: $1,453.95
Fees in APR: $982
 
 
30 yr fixed mtg refi Mortgage Loan from Apple Federal Credit Union
Apple Federal Credit Union
300000
Refinance
4.345
4.250
USD
Apple Federal Credit Union
4.345%
3/13/2019
4.250%
at 1.000 pts
60 day lock rate
Est payment: $1,475.82
Fees in APR: $352
 
 
30 yr fixed mtg refi Mortgage Loan from Fulton Bank, NA
Fulton Bank, NA
300000
Refinance
4.561
4.500
USD
Fulton Bank, NA
4.561%
3/12/2019
4.500%
at 0.375 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $1,007
 
 
30 yr fixed mtg refi Mortgage Loan from Virginia Credit Union
Virginia Credit Union
300000
Refinance
4.432
4.375
USD
Virginia Credit Union
4.432%
3/12/2019
4.375%
at 0.125 pts
45 day lock rate
Est payment: $1,497.86
Fees in APR: $1,650
 
 
30 yr fixed mtg refi Mortgage Loan from Citizens Bank, NA
Citizens Bank, NA
300000
Refinance
4.551
4.500
USD
Citizens Bank, NA
4.551%
3/15/2019
4.500%
at 0.125 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $1,408
 
 
30 yr fixed mtg refi Mortgage Loan from Bank of Oak Ridge
Bank of Oak Ridge
300000
Refinance
4.225
4.180
USD
Bank of Oak Ridge
4.225%
3/14/2019
4.180%
at 0.250 pts
60 day lock rate
Est payment: $1,463.55
Fees in APR: $853
 
 
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%
3/11/2019
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
4.326
4.250
USD
Northwest Federal Credit Union
4.326%
3/13/2019
4.250%
at 0.875 pts
45 day lock rate
Est payment: $1,475.82
Fees in APR: $79
 
 
30 yr fixed mtg refi Mortgage Loan from LincolnWay Community Bank
LincolnWay Community Bank
300000
Refinance
4.280
4.250
USD
LincolnWay Community Bank
4.280%
3/12/2019
4.250%
at 0.000 pts
30 day lock rate
Est payment: $1,475.82
Fees in APR: $1,085
 
 
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%
3/15/2019
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 Raymond James Bank, NA
Raymond James Bank, NA
300000
Refinance
4.537
4.500
USD
Raymond James Bank, NA
4.537%
3/12/2019
4.500%
at 0.000 pts
45 day lock rate
Est payment: $1,520.06
Fees in APR: $1,299
 
 

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
January 19th, 2016