Mortgage Rates Decline This Week – Average 30 Year Rates at 4.14 Percent

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Average fixed mortgage rates are lower this week, following bond yields lower. 30 year mortgage rates fell from 4.22 percent last week to 4.14 percent this week. During the past week 10 year bond yields have fallen from 2.62 percent down to yesterday's close of 2.52 percent. This coming week we might see 10 year bond yields fall below 2.50 percent and 30 year rates fall below 4.10 percent.

Mortgage rates were forecasted to move higher in 2014 but the opposite has happened so far. The Mortgage Bankers Association predicts 30 year rates will head towards 5.00 percent by the end of the year. Since we are almost in the third quarter of 2014 and 30 year rates are closer to 4.00 percent, it's doubtful that the MBA's forecast is correct.
Loan Type
Purchase    Refinance
Location
State/City    Zip Code
Loan Amt Points FICO % Down
  
$
in 06101, 0, 740    Sort by:
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APR
Rate
Cost & Fees
Notes
 
PERIOD_FIXED_30YEARS Mortgage Loan from Quicken Loans NMLS #3030
Quicken Loans NMLS #3030
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111724.gif
300000
Purchase
4.500%
4.500%
USD
Quicken Loans NMLS #3030 Logo
NMLS # 3030
08/23/2019
at 0.000 pts
45 day lock rate
Est payment: $1,521
Fees in APR: None
The Better Business Bureau gives Quicken Loans and A+ for customer service.
 
PERIOD_FIXED_30YEARS Mortgage Loan from Quicken Loans NMLS #3030
Quicken Loans NMLS #3030
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111724.gif
300000
Purchase
4.500%
4.500%
USD
Quicken Loans NMLS #3030 Logo
NMLS # 3030
08/23/2019
at 0.000 pts
45 day lock rate
Est payment: $1,521
Fees in APR: None
The Better Business Bureau gives Quicken Loans and A+ for customer service.
 
PERIOD_FIXED_30YEARS Mortgage Loan from AimLoan.com
AimLoan.com
https:https://mortgagerates.icanbuy.com/images/lenderslogos/112335.gif
300000
Purchase
3.750%
3.750%
USD
AimLoan.com Logo
NMLS # 2890
State Lic # 13256
08/23/2019
at -0.250 pts
30 day lock rate
Est payment: $1,390
Fees in APR: ($663)
Internet direct lender since 1998. View rates & fees, apply/lock online 24/7
 

Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click here for more information on rates and product details.






By the end of this year, 30 year rates will still be under 4.50 percent unless the economy really takes off and inflation increases above 2.00 percent. You can still find lenders quoting 30 year mortgage rates today below 4.00 percent. Checking on the rate tables, we see the lowest 30 year refinance rates are at 3.625 percent with 2 mortgage points and at 3.875 percent with no points.

Conventional 15 year mortgage rates today are averaging 3.21 percent, down from the prior week's average 15 year mortgage rate of 3.26 percent. The lowest current 15 year refinancing rates available are well below the average rate and below 3.00 percent. The lowest 15 year refi rate with points is at 2.625 percent with 1.1o mortgage points. The lowest 15 year rate without points is at still below 3.00 percent at 2.875 percent.

Current 30 year jumbo mortgage rates are averaging 4.50 percent, down considerably from last week's average 30 year jumbo rate of 4.75 percent. The best jumbo refinance rates available with points are well below the average at 3.875 percent with 2 mortgage points. The best jumbo refi rates without points are also below the average at 4.125 percent.

Today's mortgage rates on 15 year jumbo loans are averaging 4.11 percent, down from the previous week's average 15 year jumbo mortgage rate of 4.19 percent. Checking the rate tables, the best 15 year jumbo rates available are well below the average rate and below 4.00 percent. The lowest 15 year jumbo refi rates are at 3.25 percent with 1 mortgage point. The best 15 year rate without points is at 3.50 percent.

Adjustable mortgage rates today are mixed, conforming rates are higher while jumbo rates are lower. 5 year conforming adjustable mortgage rates are currently averaging 3.73 percent, up from last week's average 5 year adjustable rate of 3.61 percent. 5 year jumbo adjustable rates are averaging 3.44 percent, down from last week's average of 3.76 percent.

The best 5 year conforming adjustable rates available are much lower than the average at 2.25 percent with 1.10 points. The lowest rate without points is also well below the average at 2.265 percent. The best 5 year jumbo adjustable rates are averaging 2.50 percent with 0.75 points and at 2.65 percent with no points.
 
Author: Brian McKay
June 30th, 2014