Mortgage Rates Increase This Week as Fed Raises Interest RatesMortgage rates increased again this week to the highest level this year. We expected mortgage rates to increase because the Federal Reserve increased the fed funds rate by 25 basis points last week. Mortgage rates today on 30 year conforming loans are currently at 4.57 percent. The fed funds rate was increased on September 27th to a level of 2.00 percent to 2.25 percent. Since the increase happened a few days ago, we believe the 0.25 percent increase isn't fully reflected in current mortgage rates. Average 30 year rates will move towards 4.65 to 4.75 percent in the coming weeks. While the average 30 year rate is at 4.57 percent, there are lenders offering rates lower than Lender
APR / Rate
Fees / Points
Payment
$3,032
Includes 0.758 points for $3,032
Lender Fees: $0
$3,267 /mo
$3,648
Includes 0.912 points for $3,648
Lender Fees: $0
$3,267 /mo
$4,172
Includes 0.868 points for $3,472
Lender Fees: $700
$3,267 /mo
$4,570
Includes 0.875 points for $3,500
Lender Fees: $1,070
$3,269 /mo
$5,070
Includes 1.000 points for $4,000
Lender Fees: $1,070
$2,496 /mo
$3,292
Includes 0.823 points for $3,292
Lender Fees: $0
$2,526 /mo
$3,744
Includes 0.936 points for $3,744
Lender Fees: $0
$2,529 /mo
$4,592
Includes 0.973 points for $3,892
Lender Fees: $700
$2,526 /mo
$4,184
Includes 0.714 points for $2,856
Lender Fees: $1,328
$2,562 /mo
$4,495
Includes 0.625 points for $2,500
Lender Fees: $1,995
$2,562 /mo
$4,954
Includes 0.971 points for $3,884
Lender Fees: $1,070
$2,562 /mo
Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Rate and product details.
Lenders Offer Lower Mortgage RatesGarden State Home Loans is currently quoting 30 year refinance rates with .10 points at 4.125 percent. GSHL's rate is almost .50 percent lower than the current average rate. Getting a quarter point lower mortgage for one tenth point is a great deal. Average 15 year conforming rates also shot higher this week. The current average 15 year rate is at 3.93 percent, up 10 basis points from the prior week's average rate of 3.83 percent. We expect average 15 year rates to move above 4.00 percent in the coming weeks. Right now, the best 15 year mortgage rate in our database is much lower than the average rate. The lowest current rate offered by Sebonic is at 3.24 percent with 1.10 mortgage points. The lowest rate without points is at 3.75 percent, still below the average rate. Unfortunately, the days of getting the lowest mortgage rates are over. Rates will continue to move higher for the rest of this year and in 2019. Although rates are off of their all-time lows, historically speaking, current rates are still good. Go back a decade and average 30 year rates were above 5.00 percent. If you go back even further to the early 1980s, the highest average 30 year rate was above 17 percent. Explore Other Mortgage and Refinance Offers
Mortgage Rates are Higher but not for Long: 30 Year Mortgage Rates at 4.05%
Record Low Mortgage Rates Hold Steady Today
Mortgage Rates Jump Sharply Higher this Week
Mortgage Rates Fall Again This Week: Lowest 30 Year Refinance Rates at 3.50%
Higher Mortgage Interest Rates
Mortgage Rates Today Mixed: 30 Year Mortgage Rates Averaging 3.68 Percent
Mortgage Rates Mixed Week: 30 Year Mortgage Rate at 4.05%
Mortgage Rates Remain Low: 30 Year Mortgage Rates at 5.01% and 15 Year Mortgage Rates at 4.40%
Mortgage Rates This Week: 30 Year Mortgage Rates at 3.92%
Long Term Mortgage Rates at 4.87% Says Freddie
|