Mortgage Rates Decline as Equity Prices and Commodity Prices Tumble

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Average mortgage rates declined as equity prices and commodity prices tumbled yesterday on fears of slower growth. 30 year conventional mortgage rates today are averaging 3.51 percent, a decline from last week's average 30 year mortgage rate of 3.56 percent. Equity and commodity prices dropped considerably yesterday on fears of slowing economies in the United States and China.

Mortgage Rates decline as Equity Prices and Commodity Prices TumbleGold, the most active futures contract, fell for June delivery by losing more than $140 an ounce yesterday, adding to the declines of last week. Surprisingly, bond yields only slipped 2 basis points yesterday but will continue to fall in the coming days if stock prices and commodity prices end further.
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 mtg refi Mortgage Loan from Bank of the West
Bank of the West
300000
Refinance
4.419
4.375
USD
Bank of the West
4.419%
3/26/2019
4.375%
at 0.250 pts
60 day lock rate
Est payment: $1,497.86
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%
3/25/2019
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 First Tech Credit Union
First Tech Credit Union
300000
Refinance
4.275
4.250
USD
First Tech Credit Union
4.275%
3/20/2019
4.250%
at 0.000 pts
30 day lock rate
Est payment: $1,475.82
Fees in APR: $898
 
 
30 yr fixed mtg refi Mortgage Loan from LincolnWay Community Bank
LincolnWay Community Bank
300000
Refinance
4.280
4.250
USD
LincolnWay Community Bank
4.280%
3/19/2019
4.250%
at 0.000 pts
30 day lock rate
Est payment: $1,475.82
Fees in APR: $1,085
 
 
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%
3/25/2019
3.875%
at 0.000 pts
45 day lock rate
Est payment: $1,410.71
Fees in APR: $105
 
 
30 yr fixed mtg refi Mortgage Loan from Raymond James Bank, NA
Raymond James Bank, NA
300000
Refinance
4.412
4.375
USD
Raymond James Bank, NA
4.412%
3/26/2019
4.375%
at 0.000 pts
45 day lock rate
Est payment: $1,497.86
Fees in APR: $1,299
 
 
30 yr fixed mtg refi Mortgage Loan from Union Bank
Union Bank
300000
Refinance
4.522
4.500
USD
Union Bank
4.522%
3/20/2019
4.500%
at 0.000 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $771
 
 
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%
3/20/2019
4.250%
at 0.500 pts
60 day lock rate
Est payment: $1,475.82
Fees in APR: $434
 
 

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.






The current average 30 year mortgage interest rate is just above a record low of 3.27 percent, set late in 2012. This week we could see average 30 year mortgage rates fall below 3.51 percent and possibly as low as 3.40 percent. If you're searching and comparing mortgage rates, we have lenders in our database offering 30 year conforming rates below the record low of 3.27 percent. The lowest 30 year refinance rates in our database can be found as low as 3.00 percent with points in some states. The best refinance rates without points in our database can be found as low as 3.25 percent.

15 year conforming mortgage rates are averaging 2.77 percent this week, down slightly from last week's average 15 year mortgage rate of 2.78 percent. This week, average 15 year conforming rates might fall below 2.75 percent and possibly as low as 2.70 percent if bond yields drop. We have lenders quoting 15 year refinance rates today in our database as low as 2.25 percent with points and as low as 2.50 percent with no points.

Today's mortgage rates on 30 year jumbo mortgage loans are averaging 3.95 percent, which is slightly higher than last week's average 30 year jumbo mortgage rate of 3.94 percent. The lowest 30 year jumbo refinance rates today in our database are below the average rates at 3.375 percent with points. The lowest jumbo refinancing rates without points on 30 year jumbo loans are slightly higher at 3.50 percent.

Current mortgage rates on 15 year jumbo mortgage loans are averaging 3.34 percent this week, down from the previous week's average 15 year jumbo rate of 3.47 percent. In our database we have lenders quoting 15 year jumbo refinancing rates as low as 2.625 percent with 2 mortgage points and the lowest 15 year refi rates without points are quoted at 3.125 percent.

The lowest 5 year conforming adjustable refinance rates in our database are much lower than the average rate. 5 year conforming mortgage rates today are averaging 2.66 percent, a slight increase from last week's average 5 year conforming adjustable rate of 2.65 percent. The lowest quoted rates offered by lenders are at 1.50 percent with 1.80 mortgage points. The lowest 5 year adjustable refi rates without points are being offering at 2.00 percent.
 
Author: Brian McKay
April 16th, 2013