Mortgage Rates Decline: Current Fixed 15 Year Refinance Rates as Low as 2.25 Percent

Follow by Email
Facebook
Twitter
LinkedIn
For the second consecutive week fixed conforming mortgage rates declined in Freddie Mac's Primary Mortgage Market Survey. Current mortgage rates on 15 year conforming loans are now below 5 year adjustable conforming loans. Average rates are lower again on weak economic news and on mortgage securities purchases by the Federal Reserve.

Fixed conventional 30 year mortgage rates today hit an all-time record low of 3.36 percent with 0.6 mortgage point for the week ending October 4, 2012. The average 30 year mortgage rate in the survey is down from last week's record low of 3.40 percent. Average 30 year mortgage rates will probably head down to 3.00 percent before the end of 2012.
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
 
30 yr fixed mtg refi Mortgage Loan from UniBank for Savings
UniBank for Savings
300000
Refinance
4.536
4.500
USD
UniBank for Savings
4.536%
4/19/2019
4.500%
at 0.250 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $500
 
 
30 yr fixed mtg refi Mortgage Loan from Liberty Bank
Liberty Bank
300000
Refinance
4.169
4.125
USD
Liberty Bank
4.169%
4/19/2019
4.125%
at 0.250 pts
60 day lock rate
Est payment: $1,453.95
Fees in APR: $814
 
 
30 yr fixed mtg refi Mortgage Loan from Union Savings Bank
Union Savings Bank
300000
Refinance
4.399
4.375
USD
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
 
 
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%
4/19/2019
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 The Washington Trust Company
The Washington Trust Company
300000
Refinance
4.155
4.125
USD
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
 
 
30 yr fixed mtg refi Mortgage Loan from LincolnWay Community Bank
LincolnWay Community Bank
300000
Refinance
4.155
4.125
USD
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
 
 
30 yr fixed mtg refi Mortgage Loan from The Guilford Savings Bank
The Guilford Savings Bank
300000
Refinance
4.291
4.250
USD
The Guilford Savings Bank
4.291%
4/19/2019
4.250%
at 0.250 pts
60 day lock rate
Est payment: $1,475.82
Fees in APR: $719
 
 
30 yr fixed mtg refi Mortgage Loan from First National Bank of Omaha
First National Bank of Omaha
300000
Refinance
4.575
4.500
USD
First National Bank of Omaha
4.575%
4/19/2019
4.500%
at 0.625 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $752
 
 
30 yr fixed mtg refi Mortgage Loan from Savings Bank of Danbury
Savings Bank of Danbury
300000
Refinance
4.397
4.375
USD
Savings Bank of Danbury
4.397%
4/19/2019
4.375%
at 0.000 pts
60 day lock rate
Est payment: $1,497.86
Fees in APR: $790
 
 
30 yr fixed mtg refi Mortgage Loan from Citizens Bank, NA
Citizens Bank, NA
300000
Refinance
4.403
4.375
USD
Citizens Bank, NA
4.403%
4/19/2019
4.375%
at 0.000 pts
60 day lock rate
Est payment: $1,497.86
Fees in APR: $998
 
 
30 yr fixed mtg refi Mortgage Loan from TD Bank, NA
TD Bank, NA
300000
Refinance
4.154
4.125
USD
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
 
 
30 yr fixed mtg refi Mortgage Loan from United Bank
United Bank
300000
Refinance
4.276
4.250
USD
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
 
 
30 yr fixed mtg refi Mortgage Loan from Bank of America
Bank of America
300000
Refinance
4.365
4.250
USD
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
 
 

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.






There are lenders out there offering 30 year refinance rates below Freddie Mac's average 30 year mortgage rate. Right now we have one lender listed offering 30 year refinance rates today at an incredibly low rate of 3.125 percent with points in the state of New Jersey.

The Federal Reserve buying $40 billion a month in mortgage securities combined with the Fed's program of investing process from maturing agency securities back into mortgage securities will keep downward pressure on mortgage rates. The Fed's program of reinvesting $45 billion a month into mortgage securities will end this year but the $40 billion a month purchases has no end date which will keep mortgage rates low unto 2013.

Conforming 15 year mortgage rates are averaging 2.69 percent with 0.5 mortgage discount points, down from the prior week's average 15 year mortgage rate of 2.73 percent. The average fixed 15 year mortgage rate is now below short term 5 year adjustable mortgage rates. 

Freddie Mac's average 15 year mortgage rate of 2.69 percent is very low but did you know you can get 15 year mortgage refinance rates even lower? Right now on our 15 year refinance mortgage rates list in New Jersey First Internet Bank is offering 15 year refi rates at 2.25 percent with points.

If you don't want to pay points on a mortgage Generation Mortgage LLC is listed on our New Jersey refinance rates list offering 30 year rates at 2.50 percent with no points. You can compare refinancing rates in your state by searching our interest rate tables and best of all you don't have to provide any information to see a list of rates.

In Freddie Mac's mortgage survey this week 5 year adjustable mortgage rates were actually higher. Today's mortgage rates on 5 year conforming adjustable loans are averaging 2.72 percent with 0.6 mortgage points, up from last week's average 5 year adjustable mortgage rate of 2.71 percent.

There are home loan lenders offering 5 year adjustable mortgage refi rates well below the average rate of 2.72 percent. Right now on our 5 year adjustable refinance rates list for the state of Florida you can find lenders offering 5 year adjustable rates at 2.125 percent with points and at 2.50 percent with no points.
 
Author: Brian McKay
October 4th, 2012