Mortgage Rates End 2014 Low, Will Move Higher by the End of 2015

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Average mortgage rates start near the lows of 2014 but will increase throughout 2015. 30 year mortgage rates today remain under 4.00 percent at 3.98 percent. Mortgage rates continue to remain low because 10 year bond yields also remain low, defying expectations of an increase in rates.

10 year bond yields closed at 2.12 percent on Friday, almost 100 basis points lower than the forecast for the beginning of 2015. Mortgage rates and 10 year bond yields are expected to increase about 1.00 percent by the end of this year. 10 year bond yields will approach 3.00 percent, 30 year mortgage rates will head towards 5.00 percent and 15 year rates will move towards 4.00 percent.
Loan Type
Purchase    Refinance
Location
State/City    Zip Code
Loan Amt Points FICO % Down
  
$
in 95816, All points, 740    Sort by:
Lender
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
3.693%
3.500%
USD
Quicken Loans NMLS #3030 Logo
NMLS # 3030
06/01/2020
at 2.000 pts
45 day lock rate
Est payment: $1,348
Fees in APR: $7,250
The Better Business Bureau gives Quicken Loans and A+ for customer service.
 
PERIOD_FIXED_30YEARS Mortgage Loan from Rocket Mortgage
Rocket Mortgage
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111574.gif
300000
Purchase
3.567%
3.375%
USD
Rocket Mortgage Logo
NMLS # 3030
06/01/2020
at 2.000 pts
45 day lock rate
Est payment: $1,327
Fees in APR: $7,250
From the lender: We can close your loan in less than a month!
 
PERIOD_FIXED_30YEARS Mortgage Loan from Rocket Mortgage
Rocket Mortgage
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111574.gif
300000
Purchase
3.739%
3.625%
USD
Rocket Mortgage Logo
NMLS # 3030
06/01/2020
at 1.000 pts
45 day lock rate
Est payment: $1,369
Fees in APR: $4,250
From the lender: We can close your loan in less than a month!
 
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
4.107%
3.990%
USD
Quicken Loans NMLS #3030 Logo
NMLS # 3030
06/01/2020
at 1.000 pts
45 day lock rate
Est payment: $1,431
Fees in APR: $4,250
The Better Business Bureau gives Quicken Loans and A+ for customer service.
 
PERIOD_FIXED_30YEARS Mortgage Loan from Rocket Mortgage
Rocket Mortgage
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111574.gif
300000
Purchase
4.025%
3.990%
USD
Rocket Mortgage Logo
NMLS # 3030
06/01/2020
at 0.000 pts
45 day lock rate
Est payment: $1,431
Fees in APR: $1,250
From the lender: We can close your loan in less than a month!
 
PERIOD_FIXED_30YEARS Mortgage Loan from Figure Lending LLC
Figure Lending LLC
https:https://mortgagerates.icanbuy.com/images/lenderslogos/112490.gif
300000
Purchase
2.709%
2.500%
USD
Figure Lending LLC Logo
NMLS # 1717824
06/01/2020
at 0.750 pts
60 day lock rate
Est payment: $1,186
Fees in APR: $8,307
Put your money where you need it sooner.
 
PERIOD_FIXED_30YEARS Mortgage Loan from Figure Lending LLC
Figure Lending LLC
https:https://mortgagerates.icanbuy.com/images/lenderslogos/112490.gif
300000
Purchase
2.777%
2.625%
USD
Figure Lending LLC Logo
NMLS # 1717824
06/01/2020
at 0.000 pts
60 day lock rate
Est payment: $1,205
Fees in APR: $6,000
Put your money where you need it sooner.
 

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.






Mortgage Rates End 2014 Low, Will Move Higher by the End of 201515 year mortgage rates today are averaging 3.07 percent, an increase of 3 basis points from last week's average 15 year rate. 15 year rates may fall below 3.00 percent before rates move higher. Any increases in rates won't come in the first few months of 2015 and will more likely increase as the year progresses.

Today's mortgage rates on 30 year jumbo loans are slightly higher, averaging 4.25 percent, up from the previous week's average 30 year jumbo rate of 4.23 percent. While average jumbo rates on 30 year loans are above 4.00 percent there are still many lenders quoting 30 year jumbo refinance rates below 4.00 percent. The best 30 year jumbo refi rate on our rate list for Connecticut are at 3.625 percent with 1.50 mortgage points.

15 year jumbo rates jumped much higher this week and are now above 4.00 percent. The current average 15 year jumbo rate is at 4.04 percent, up 14 basis points from the prior week's average rate. The best 15 year jumbo refi rate in California is almost 100 basis points below the average rate. Citi is currently offering 15 year jumbo rates at 3.125 percent with 0.88 points.

Average adjustable mortgage rates on both conforming and jumbo loans decreased this week. Conforming 5 year adjustable rates are averaging 3.08 percent, down from the previous week's average 5 year adjustable rate of 3.09 percent. Average 5/1 jumbo adjustable rates are at 3.51 percent, down 2 basis points from last week's average jumbo rate of 3.53 percent.

The lowest 5 year conforming refinance rate available on our list for Florida is at 2.40 percent with 1 mortgage point from Third Federal Savings and Loan. The lowest 5 year jumbo rate in Massachusetts is also from Third Federal at 2.625 percent with no mortgage points.
 
Author: Brian McKay
January 5th, 2015