Mortgage Rates Decline, Lowest 30 Year Mortgage Rates at 3.875%

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Mortgage rates are down this week after rising almost every week for the past two months. Average 30 year conforming mortgage rates are currently at 4.41 percent, down from last week's average 30 year rate of 4.50 percent. Average rates are still above 4.00 percent but the lowest quoted rates with points on our 30 year loan table are under 4.00 percent at 3.875 percent. Check for the lowest rates in our state here: Mortgage Rates.

Mortgage Rates Decline on a Weak Employment Report


Average mortgage interest rates are lower this week on the news of a surprisingly weak unemployment report for December 2013. The report released last Friday showed only 74,000 jobs were created in the month of December, much lower than the forecasted amount of 185,000 jobs.
Loan Type
Purchase    Refinance
Location
State/City    Zip Code
Loan Amt Points FICO % Down
  
$
30 yr fixed refi in 95816, All points, Credit score: 740+     Sort by:
Lender
APR
Rate
Cost & Fees
Notes
 
30 yr fixed Mortgage Loan from LOWRATES.COM
LOWRATES.COM
https://www.brimg.net/system/img/inst/10530_logo.gif
300000
Refinance
3.846
3.750
USD
LOWRATES.COM Logo
NMLS # 3277
at 0.100 pts
30 day lock rate
Est payment: $1,389.35
Fees in APR: $3,191
Thanks for the inquiry! 
 
30 yr fixed Mortgage Loan from Ally Bank
Ally Bank
https://www.brimg.net/system/img/inst/10271_logo.gif
300000
Refinance
4.070
4.000
USD
Ally Bank Logo
NMLS # 181005
(877) 223 - 8087
at 0.100 pts
45 day lock rate
Est payment: $1,432.25
Fees in APR: $2,209
Thanks for the inquiry! 
 
30 yr fixed Mortgage Loan from Sol Mortgage
Sol Mortgage
https://www.brimg.net/system/img/inst/10262_logo.gif
300000
Refinance
3.798
3.710
USD
Sol Mortgage Logo
NMLS # 53112
at 0.100 pts
30 day lock rate
Est payment: $1,382.55
Fees in APR: $2,910
Thanks for the inquiry! 
 
30 yr fixed Mortgage Loan from First Midwest Bank
First Midwest Bank
https://www.brimg.net/system/img/inst/10612_logo.gif
300000
Refinance
3.848
3.750
USD
First Midwest Bank Logo
NMLS # 423112
at 0.625 pts
60 day lock rate
Est payment: $1,389.35
Fees in APR: $1,685
 
 
30 yr fixed Mortgage Loan from Sebonic Financial
Sebonic Financial
https://www.brimg.net/system/img/inst/8420_logo.gif
300000
Refinance
3.951
3.865
USD
Sebonic Financial Logo
NMLS # 66247
State Lic # 603K498
(877) 388 - 7982
at 0.100 pts
30 day lock rate
Est payment: $1,409.00
Fees in APR: $2,819
Thank you for your inquiry, we will be in touch shortly. 
 
30 yr fixed Mortgage Loan from LOWRATES.COM
LOWRATES.COM
https://www.brimg.net/system/img/inst/10530_logo.gif
300000
Refinance
3.990
3.990
USD
LOWRATES.COM Logo
NMLS # 3277
at 0.000 pts
30 day lock rate
Est payment: $1,430.52
Fees in APR: None
Thanks for the inquiry! 
 
30 yr fixed Mortgage Loan from Ally Bank
Ally Bank
https://www.brimg.net/system/img/inst/10271_logo.gif
300000
Refinance
4.255
4.250
USD
Ally Bank Logo
NMLS # 181005
(877) 223 - 8087
at 0.000 pts
45 day lock rate
Est payment: $1,475.82
Fees in APR: $181
Thanks for the inquiry! 
 
30 yr fixed Mortgage Loan from First Midwest Bank
First Midwest Bank
https://www.brimg.net/system/img/inst/10612_logo.gif
300000
Refinance
3.875
3.875
USD
First Midwest Bank Logo
NMLS # 423112
at 0.000 pts
60 day lock rate
Est payment: $1,410.71
Fees in APR: None
 
 
30 yr fixed Mortgage Loan from Sol Mortgage
Sol Mortgage
https://www.brimg.net/system/img/inst/10262_logo.gif
300000
Refinance
3.864
3.835
USD
Sol Mortgage Logo
NMLS # 53112
at 0.000 pts
30 day lock rate
Est payment: $1,403.86
Fees in APR: $1,049
Thanks for the inquiry! 
 
30 yr fixed Mortgage Loan from Better.com
Better.com
https://www.brimg.net/system/img/inst/9722_logo.gif
300000
Refinance
4.000
4.000
USD
Better.com Logo
NMLS # 330511
State Lic # 6052748
at 0.000 pts
30 day lock rate
Est payment: $1,432.25
Fees in APR: None
Thank you for your quote. 
 
30 yr fixed Mortgage Loan from Prime Choice Funding Inc.
Prime Choice Funding Inc.
https://www.brimg.net/system/img/inst/10596_logo.gif
300000
Refinance
3.896
3.875
USD
Prime Choice Funding Inc. Logo
NMLS # 117375
at 0.000 pts
30 day lock rate
Est payment: $1,410.71
Fees in APR: $773
Thank you for your inquiry! 
 
30 yr fixed Mortgage Loan from Sebonic Financial
Sebonic Financial
https://www.brimg.net/system/img/inst/8420_logo.gif
300000
Refinance
4.017
3.990
USD
Sebonic Financial Logo
NMLS # 66247
State Lic # 603K498
(877) 388 - 7982
at 0.000 pts
30 day lock rate
Est payment: $1,430.52
Fees in APR: $983
Thank you for your inquiry, we will be in touch shortly. 
 
30 yr fixed Mortgage Loan from First Midwest Bank
First Midwest Bank
https://www.brimg.net/system/img/inst/10612_logo.gif
300000
Refinance
3.727
3.625
USD
First Midwest Bank Logo
NMLS # 423112
at 1.250 pts
60 day lock rate
Est payment: $1,368.15
Fees in APR: None
 
 
30 yr fixed Mortgage Loan from Sol Mortgage
Sol Mortgage
https://www.brimg.net/system/img/inst/10262_logo.gif
300000
Refinance
3.787
3.585
USD
Sol Mortgage Logo
NMLS # 53112
at 1.100 pts
30 day lock rate
Est payment: $1,361.41
Fees in APR: $4,072
Thanks for the inquiry! 
 
30 yr fixed Mortgage Loan from Better.com
Better.com
https://www.brimg.net/system/img/inst/9722_logo.gif
300000
Refinance
3.789
3.625
USD
Better.com Logo
NMLS # 330511
State Lic # 6052748
at 1.100 pts
30 day lock rate
Est payment: $1,368.15
Fees in APR: $2,668
Thank you for your quote. 
 
30 yr fixed Mortgage Loan from Sebonic Financial
Sebonic Financial
https://www.brimg.net/system/img/inst/8420_logo.gif
300000
Refinance
3.800
3.615
USD
Sebonic Financial Logo
NMLS # 66247
State Lic # 603K498
(877) 388 - 7982
at 1.100 pts
30 day lock rate
Est payment: $1,366.47
Fees in APR: $3,452
Thank you for your inquiry, we will be in touch shortly. 
 
30 yr fixed mtg refi Mortgage Loan from Union Bank
Union Bank
300000
Refinance
4.397
4.375
USD
Union Bank
4.397%
5/23/2019
4.375%
at 0.000 pts
60 day lock rate
Est payment: $1,497.86
Fees in APR: $771
 
 
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%
5/21/2019
4.500%
at 0.000 pts
45 day lock rate
Est payment: $1,520.06
Fees in APR: $1,299
 
 
30 yr fixed mtg refi Mortgage Loan from First Tech Credit Union
First Tech Credit Union
300000
Refinance
4.025
4.000
USD
First Tech Credit Union
4.025%
5/22/2019
4.000%
at 0.000 pts
30 day lock rate
Est payment: $1,432.25
Fees in APR: $898
 
 
30 yr fixed mtg refi Mortgage Loan from LincolnWay Community Bank
LincolnWay Community Bank
300000
Refinance
4.030
4.000
USD
LincolnWay Community Bank
4.030%
5/21/2019
4.000%
at 0.000 pts
30 day lock rate
Est payment: $1,432.25
Fees in APR: $1,085
 
 
30 yr fixed mtg refi Mortgage Loan from San Diego County Credit Union
San Diego County Credit Union
300000
Refinance
4.304
4.250
USD
San Diego County Credit Union
4.304%
5/22/2019
4.250%
at 0.500 pts
60 day lock rate
Est payment: $1,475.82
Fees in APR: $434
 
 
30 yr fixed mtg refi Mortgage Loan from Bank of the West
Bank of the West
300000
Refinance
4.544
4.500
USD
Bank of the West
4.544%
5/21/2019
4.500%
at 0.250 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $793
 
 
30 yr fixed mtg refi Mortgage Loan from Schools First FCU
Schools First FCU
300000
Refinance
4.278
4.250
USD
Schools First FCU
4.278%
5/20/2019
4.250%
at 0.000 pts
60 day lock rate
Est payment: $1,475.82
Fees in APR: $995
 
 
30 yr fixed mtg refi Mortgage Loan from Star One Credit Union
Star One Credit Union
300000
Refinance
3.878
3.875
USD
Star One Credit Union
3.878%
5/20/2019
3.875%
at 0.000 pts
45 day lock rate
Est payment: $1,410.71
Fees in APR: $105
 
 

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.






10 year bond yields, which were above 3.00 percent early last week, fell back under 3.00 percent on the news of the weak employment report. 10 year bond yields fell from 3.01 percent to 2.82 percent yesterday and are currently at 2.90 percent. Lenders set mortgage rates based on 10 year bond rates, which is why average rates are lower this week.

mortgage rates chartCurrent Mortgage Rates Set to Move Higher This Week


Current mortgage rates are probably at the lowest for the week and will increase by the end of the week. By Friday, average 30 year mortgage rates will be back above 4.50 percent and the lowest 30 year refinance rates quoted on our rate table will be at 4.00 percent.

The trend is for higher mortgage rates in the coming weeks and months. That is, as long as economic growth continues to be robust and there are no more surprise employment reports. By the middle of 2014, average 30 year conforming mortgage rates are forecast to be around 5.00 percent and by the end of 2014, rates are forecasted to be slightly above 5.00 percent.

15 Year Mortgage Rates Today


The current average 15 year conventional mortgage rate is back under 3.50 percent at 3.45 percent. By the end of this week, average 15 year mortgage rates will rise above 3.50 percent and by the end of 2014, average 15 year rates will rise above 4.00 percent. Right now on our rate tables, we have plenty of lenders quoting 15 year refinance rates with and without points below the averages.

The lowest mortgage rates on 15 year loans on our table for the state of California are currently at 2.873 percent with 1.875 mortgage points. The best 15 year refinance mortgage rates right now for our table in the state of Texas are currently at 3.125 percent. These lenders are also quoting 15 year on our rate tables for most other states.

Average Jumbo Mortgage Rates


30 year jumbo mortgage rates today are averaging 4.57 percent, a decline from last week's average 30 year jumbo mortgage rate of 4.65 percent. 30 year jumbo rates will be back around 4.65 percent by the end of the week and will rise above 5.00 percent by the summer of 2014. By the end of this year, 30 year jumbo rates will average around 5.00 percent to 5.25 percent.

The lowest 30 year jumbo refinance rates available right now on our rate table for the state of New Jersey are currently at 4.125 percent with no mortgage points. We also have other lenders quoting 30 year jumbo refi rates with and without points below the average of 4.57 percent.

Today's mortgage rates on 15 year jumbo loans are averaging 3.84 percent, a decline from last week's average 15 year jumbo rate of 3.89 percent. Average 15 year jumbo rates will increase this week and rise to 3.90 percent by Friday. By the third quarter of 2014, average 15 year rates will be around 4.25 percent and rise above 4.50 percent by the end of the year.

Checking on our 15 year jumbo rate tables for the state of Colorado, the lowest rate is currently at 3.375 percent with 1 mortgage point, almost 50 basis points below the average rate. The lowest 15 year refi rate without points on our table for CO is still below the average at 3.75 percent.

5/1 Conforming Adjustable Mortgage Rates


The current average 5/1 conforming adjustable mortgage rate is at 3.57 percent this week, a decline from the previous week's average 5 year adjustable rate of 3.67 percent. By the end of this week, average 5 year adjustable rates will rise to around 3.75 percent. The forecast for adjustable rates is also higher for 2014.

Average 5 year conforming rates will be around 4.00 percent by June 2014 and will rise to around 4.50 percent by the end of 2014. Right now, the lowest adjustable rates on our table are more than 1.00 percent lower than the average rate. The lowest 5/1 adjustable rate on our table for the state of Nevada is currently at 2.375 percent with just under 2 mortgage points. The best rate without points in NV is currently at 2.75 percent.

Jumbo 5/1 Adjustable Mortgage Rates


5 year jumbo mortgage rates are actually higher today. The current average 5 year jumbo rate is at 3.05 percent, up from last week's average 5 year jumbo rate of 3.02 percent. By the end of this week, average 5 year jumbo rates will be around 3.10 percent. By the end of 2014, average 5 year rates will be around 3.50 percent to 3.75 percent.

The best 5 year jumbo rates on our rate table for the state of South Carolina are 1.55 percent below the average rate. The best rate is currently at 2.50 percent with 2 mortgage points. The lowest 5 year jumbo rate without points is still well below the average at  2.75 percent.
 
Author: Brian McKay
January 15th, 2014