Mortgage Rates Increase This Week but Will Decline in the Coming Days

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The increase in 10 year bond yields this past week has sent average conforming mortgage rates higher. The increase in mortgage rates won't last for long. Bond yields have fallen 0.10 percent since the Federal Reserve's meeting minutes were released yesterday afternoon. The meeting minutes showed Federal Reserve officials agreed to end the Fed's bond buying program by October instead of at the end of 2014.

The Fed's program was designed to suppress bond yields and mortgage rates so ending it should send rates higher but that isn't happening yet. Bond yields and stock market futures are down sharply this morning following European stocks lower. By the beginning of next week average mortgage rates will be 0.10 percent to 0.15 percent lower.
Loan Type
Purchase    Refinance
Location
State/City    Zip Code
Loan Amt Points FICO % Down
  
$
30 yr fixed refi in 06101, All points, Credit score: 740+     Sort by:
Lender
APR
Rate
Cost & Fees
Notes
 
30 yr fixed Mortgage Loan from Better.com
Better.com
https://www.brimg.net/system/img/inst/9722_logo.gif
300000
Refinance
4.125
4.125
USD
Better.com Logo
NMLS # 330511
State Lic # ML-330511
at 0.000 pts
30 day lock rate
Est payment: $1,453.95
Fees in APR: None
Thank you for your quote. 
 
30 yr fixed mtg refi Mortgage Loan from The Guilford Savings Bank
The Guilford Savings Bank
300000
Refinance
4.291
4.250
USD
The Guilford Savings Bank
4.291%
4/19/2019
4.250%
at 0.250 pts
60 day lock rate
Est payment: $1,475.82
Fees in APR: $719
 
 
30 yr fixed mtg refi Mortgage Loan from LincolnWay Community Bank
LincolnWay Community Bank
300000
Refinance
4.155
4.125
USD
LincolnWay Community Bank
4.155%
4/16/2019
4.125%
at 0.000 pts
30 day lock rate
Est payment: $1,453.95
Fees in APR: $1,085
 
 
30 yr fixed mtg refi Mortgage Loan from United Bank
United Bank
300000
Refinance
4.276
4.250
USD
United Bank
4.276%
4/16/2019
4.250%
at 0.000 pts
30 day lock rate
Est payment: $1,475.82
Fees in APR: $911
 
 
30 yr fixed mtg refi Mortgage Loan from Union Savings Bank
Union Savings Bank
300000
Refinance
4.399
4.375
USD
Union Savings Bank
4.399%
4/12/2019
4.375%
at 0.000 pts
60 day lock rate
Est payment: $1,497.86
Fees in APR: $852
 
 
30 yr fixed mtg refi Mortgage Loan from Santander Bank, N.A.
Santander Bank, N.A.
300000
Refinance
4.557
4.500
USD
Santander Bank, N.A.
4.557%
4/19/2019
4.500%
at 0.000 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $2,004
 
 
30 yr fixed mtg refi Mortgage Loan from Liberty Bank
Liberty Bank
300000
Refinance
4.169
4.125
USD
Liberty Bank
4.169%
4/19/2019
4.125%
at 0.250 pts
60 day lock rate
Est payment: $1,453.95
Fees in APR: $814
 
 
30 yr fixed mtg refi Mortgage Loan from UniBank for Savings
UniBank for Savings
300000
Refinance
4.536
4.500
USD
UniBank for Savings
4.536%
4/19/2019
4.500%
at 0.250 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $500
 
 
30 yr fixed mtg refi Mortgage Loan from Bank of America
Bank of America
300000
Refinance
4.365
4.250
USD
Bank of America
4.365%
4/15/2019
4.250%
at 0.903 pts
60 day lock rate
Est payment: $1,475.82
Fees in APR: $1,351
 
 
30 yr fixed mtg refi Mortgage Loan from TD Bank, NA
TD Bank, NA
300000
Refinance
4.154
4.125
USD
TD Bank, NA
4.154%
4/16/2019
4.125%
at 0.000 pts
45 day lock rate
Est payment: $1,453.95
Fees in APR: $1,043
 
 
30 yr fixed mtg refi Mortgage Loan from Citizens Bank, NA
Citizens Bank, NA
300000
Refinance
4.403
4.375
USD
Citizens Bank, NA
4.403%
4/19/2019
4.375%
at 0.000 pts
60 day lock rate
Est payment: $1,497.86
Fees in APR: $998
 
 
30 yr fixed mtg refi Mortgage Loan from First National Bank of Omaha
First National Bank of Omaha
300000
Refinance
4.575
4.500
USD
First National Bank of Omaha
4.575%
4/19/2019
4.500%
at 0.625 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $752
 
 
30 yr fixed mtg refi Mortgage Loan from The Washington Trust Company
The Washington Trust Company
300000
Refinance
4.155
4.125
USD
The Washington Trust Company
4.155%
4/16/2019
4.125%
at 0.000 pts
30 day lock rate
Est payment: $1,453.95
Fees in APR: $1,083
 
 
30 yr fixed mtg refi Mortgage Loan from Savings Bank of Danbury
Savings Bank of Danbury
300000
Refinance
4.397
4.375
USD
Savings Bank of Danbury
4.397%
4/19/2019
4.375%
at 0.000 pts
60 day lock rate
Est payment: $1,497.86
Fees in APR: $790
 
 

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.






Current mortgage rates on 30 year conforming mortgages are averaging 4.21 percent, an increase from last week's average 30 year rate of 4.19 percent. By next Monday average 30 year rates will fall below 4.10 percent and possibly as low as 4.05 percent. While current 30 year rates are above 4.00 percent there are plenty lenders quoting 30 year refinance rates below 4.00 percent with points and without points.

15 year mortgage rates today are averaging 3.29 percent, a slight increase from last week's average 15 year mortgage rate of 3.24 percent. By early next week average 15 year rates will fall below 3.20 percent towards 3.10 percent. There are lenders quoting 15 year refinance rates well below the average rate.

Searching on the rate tables for the state of California we see the lowest 15 year refinancing rate at 2.75 percent with just 0.10 mortgage points. The same lender is also quoting 15 year refi rates in other states with the same rate/point combination. There are also many other lenders quoting 15 year rates below 3.00 percent with different points.

Today's mortgage rates on 30 year jumbo loans are averaging 4.57 percent, a slight decline from last week's average 30 year jumbo mortgage rate of 4.58 percent. Since bond yields are lower average 30 year jumbo rates will also fall in the coming days. We are forecasting 30 year jumbo rates will fall below 4.50 percent by next Monday.

There currently are lenders quoting 30 year jumbo refinance rates below the average rate and one lender quoting rates below 4.00 percent. Checking on rates available we see the lowest rate quoted is at 3.875 percent with 2 mortgage points. The lowest 30 year jumbo refi rates available without points are currently at 4.125 percent.

Average 15 year jumbo mortgage rates are at 3.72 percent, a decline from last week's average 15 year rate of 3.74 percent. The best jumbo refinance rates available on 15 year loans are at 3.375 percent with points. The best 15 year rate without points is at 3.625 percent.

 

 
 
Author: Brian McKay
July 11th, 2014