Mortgage Rates are Still Low – Average 30 Year Rates are at 3.81 Percent

Mortgage rates today are still low, historically speaking, despite the recent run up. Average mortgage rates increased the past month in anticipation of a fed funds rate increase. The Federal Reserve has increased the fed funds rate for the first time in 9 years.

While mortgage rates are not directly tied to the fed funds rate, long term bond yields are. Increases in the fed funds rate will eventually drive long term interest rate higher, thus forcing lenders to increase mortgage rates. Right now average 30 year conforming rates are at 3.81 percent.

The lowest 30 year rates in our rate database for California are even lower at 3.50 percent with 2 mortgage points. You can get a lower rate if you're willing to pay points on a mortgage loan. Getting a lower rate by utilizing points isn't cheap.

Paying 1 mortgage point up front at closing is equal to 1 percent of the loan amount. So if the loan amount is $400,000 you will have to pay an additional $4,000 in closing costs. It's best to use a mortgage calculator to figure out if paying points to get a lower rate makes financial sense. You can use a calculator, compare rates, and see how long it will take you to recoup the points you pay.

Current mortgage rates on 15 year conforming loans are averaging 3.00 percent. The lowest 15 year refinance rate in our database for California is much lower at 2.625 percent with 2 points. The lowest rate without points is still below the average at 2.99 percent.

Average 30 year jumbo mortgage rates are currently at 4.30 percent and average 15 year jumbo rates are at 4.10 percent. The best 30 year jumbo refinance rates in our database for CA are at 3.375 percent with 2 points and 15 year refi rates are at 2.875 percent with 1.10 points.

This week's National Average Mortgage Rates are listed in the chart to the right:

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

NMLS # 473163
State Lic # ML-473163
(877) 387 - 9107

3.956%

4/17/2019

3.874%

at 0.100 pts
30 day lock rate

Est payment: $1,410.54

Fees in APR: $2,685

Thanks for the inquiry!

NMLS # 66247
State Lic # ML-66247
(877) 388 - 9170

4.092%

4/17/2019

3.990%

at 0.100 pts
30 day lock rate

Est payment: $1,430.52

Fees in APR: $3,350

Thank you for your inquiry, we will be in touch shortly.

NMLS # 66247
State Lic # ML-66247
(877) 388 - 9170

4.246%

4/17/2019

4.240%

at 0.000 pts
30 day lock rate

Est payment: $1,474.06

Fees in APR: $206

Thank you for your inquiry, we will be in touch shortly.

NMLS # 473163
State Lic # ML-473163
(877) 387 - 9107

4.124%

4/17/2019

4.124%

at 0.000 pts
30 day lock rate

Est payment: $1,453.77

Fees in APR: None

Thanks for the inquiry!

NMLS # 473163
State Lic # ML-473163
(877) 387 - 9107

3.880%

4/17/2019

3.749%

at 1.100 pts
30 day lock rate

Est payment: $1,389.18

Fees in APR: $1,467

Thanks for the inquiry!

NMLS # 66247
State Lic # ML-66247
(877) 388 - 9170

3.926%

4/17/2019

3.740%

at 1.100 pts
30 day lock rate

Est payment: $1,387.65

Fees in APR: $3,428

Thank you for your inquiry, we will be in touch shortly.

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

First National Bank of Omaha

4.439%

4/11/2019

4.375%

at 0.500 pts
60 day lock rate

Est payment: $1,497.86

Fees in APR: $752

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

Citizens Bank, NA

4.403%

4/12/2019

4.375%

at 0.000 pts
60 day lock rate

Est payment: $1,497.86

Fees in APR: $998

Savings Bank of Danbury

4.272%

4/12/2019

4.250%

at 0.000 pts
60 day lock rate

Est payment: $1,475.82

Fees in APR: $790

Liberty Bank

4.169%

4/12/2019

4.125%

at 0.250 pts
60 day lock rate

Est payment: $1,453.95

Fees in APR: $814

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

The Guilford Savings Bank

4.166%

4/12/2019

4.125%

at 0.250 pts
60 day lock rate

Est payment: $1,453.95

Fees in APR: $719

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

Santander Bank, N.A.

4.557%

4/17/2019

4.500%

at 0.000 pts
60 day lock rate

Est payment: $1,520.06

Fees in APR: $2,004

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

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

UniBank for Savings

4.536%

4/12/2019

4.500%

at 0.250 pts
60 day lock rate

Est payment: $1,520.06

Fees in APR: $500

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

December 16th, 2015

Mortgage Rates are Still Low – Average 30 Year Rates are at 3.81 Percent

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