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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.
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.
This week's National Average Mortgage Rates are listed in the chart to the right:
Lender
APR
Rate
Cost & Fees
Notes
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 NMLS # 53112
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 NMLS # 399799
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 NMLS # 401599
State Lic # 401599 
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 NMLS # 541760
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 NMLS # 403501
 NMLS # 417490
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NMLS # 401599
State Lic # 401599
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NMLS # 417490
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NMLS # 53112
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NMLS # 399799
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 NMLS # 402606
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NMLS # 403501
 NMLS # 237507
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NMLS # 417490
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NMLS # 399799
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NMLS # 541760
Thank you for your inquiry! We look forward to working with you.
NMLS # 53112
Thanks for the inquiry!
Thank you for your inquiry, we will be in touch shortly.
State Department Federal Credit Union
4.683%
10/22/2018
4.625%
at 0.000 pts
60 day lock rate Est payment: $1,542.42
Fees in APR: $2,000
Raymond James Bank, NA
5.163%
10/16/2018
5.125%
at 0.000 pts
45 day lock rate Est payment: $1,633.46
Fees in APR: $1,299
Northwest Federal Credit Union
5.046%
10/18/2018
5.000%
at 0.500 pts
45 day lock rate Est payment: $1,610.46
Fees in APR: $79
LincolnWay Community Bank
4.907%
10/16/2018
4.875%
at 0.000 pts
30 day lock rate Est payment: $1,587.62
Fees in APR: $1,085
Bank of Oak Ridge
5.048%
10/18/2018
4.990%
at 0.375 pts
60 day lock rate Est payment: $1,608.63
Fees in APR: $853
Santander Bank, N.A.
5.184%
10/22/2018
5.125%
at 0.000 pts
60 day lock rate Est payment: $1,633.46
Fees in APR: $2,004
Fulton Bank, NA
5.085%
10/16/2018
5.000%
at 0.625 pts
60 day lock rate Est payment: $1,610.46
Fees in APR: $1,007
Bank of America
4.865%
10/17/2018
4.750%
at 0.881 pts
60 day lock rate Est payment: $1,564.94
Fees in APR: $1,289
Apple Federal Credit Union
5.099%
10/17/2018
5.000%
at 1.000 pts
60 day lock rate Est payment: $1,610.46
Fees in APR: $352
TD Bank, NA
4.811%
10/19/2018
4.750%
at 0.375 pts
45 day lock rate Est payment: $1,564.94
Fees in APR: $982
Virginia Credit Union
5.049%
10/16/2018
5.000%
at 0.000 pts
45 day lock rate Est payment: $1,610.46
Fees in APR: $1,650
Citizens Bank, NA
5.064%
10/19/2018
5.000%
at 0.250 pts
60 day lock rate Est payment: $1,610.46
Fees in APR: $1,408
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. |
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