Mortgage Rates Mixed This Week as Debt Deal Talks Stall, House Votes on Plan B

Average mortgage rates are mixed in this week's Primary Mortgage Market Survey released by Freddie Mac. Negotiations between President Barack Obama and Republican House Speaker John Boehner have been driving bond yields and mortgage rates over the past several weeks.

A debt deal looked to be imminent but talks are breaking down as Obama tells Boeher and House Republicans to take the deal and Boehner responds in a 52 second press conference you can view below. Today Boehner also will submit a plan "B" to a vote in the house of Representatives which calls for higher tax rates on incomes of $1 million or more.

Fixed conforming 30 year mortgage rates averaged 3.37 percent with 0.7 points for the week ending December 20, 2012, up 5 basis points for last week's average 30 year mortgage rate of 3.32 percent. Fixed 30 year mortgage interest rates are just above record lows of 3.31 percent set the week of November 21, 2012. Mortgage rates today on 30 year conforming loans are averaging 3.44 percent.

Loan Type

Purchase Refinance with Cash out Refinance

State

Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District Of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming

FICO Score

Superior (780-850) Exceptional (760-779) Excellent (740-759) Very Good (720-739) Good (700-719) Above Average (680-699) Average (660-679) Fair (640-659) Need Improvement (620-639) Poor (350-620)

Loan Amount

$

Points

Up to 0 points Up to 0.5 points Up to 1 points Up to 1.5 points Up to 2 points Up to 2.5 points Up to 3 points

LTV

%

Loan Term

 15-Year Fixed  20-Year Fixed  30-Year Fixed  5-Year ARM  7-Year ARM  10-Year ARM

Show Advertiser Disclosure

The lenders whose rates and other terms appear on this chart are ICB's advertising partners. They provide their rate information to our data partner RateUpdate.com. Unless adjusted by the consumer, advertisers are sorted by APR from lowest to highest. For any advertising partners that do not provide their rate they are listed in advertisement display units at the bottom of the chart. Advertising partners may not pay to improve the frequency priority or prominence of their display. The interest rates, annual percentage rates and other terms advertised here are estimates provided by those advertising partners based on the information you entered above and do not bind. Any lender Monthly payment amounts stated do not include amounts for taxes and insurance premiums. The actual payment obligation will be greater if taxes and insurance are included. Although our data partner RateUpdate.com collects the information from the financial institutions themselves, the accuracy of the data cannot be guaranteed. Rates may change without notice and can change intraday. Some of the information contained in the rate tables including but not limited to special marketing notes is provided directly by the lenders. Please verify the rates and offers before applying for a loan with the financial institution themselves. No rate is binding until locked by a lender.

Lender

APR / Rate

Fees / Points

Payment

NMLS #401822

5.478%

15-Year Fixed

5.250%

$6,000

Includes 0.500 points for $2,000

Lender Fees: $4,000

$3,216 /mo

Next >

NMLS #757416

5.494%

15-Year Fixed

5.375%

$3,112

Includes 0.778 points for $3,112

Lender Fees: $0

$3,242 /mo

Next >

NMLS #1025894

5.515%

15-Year Fixed

5.375%

$3,660

Includes 0.740 points for $2,960

Lender Fees: $700

$3,242 /mo

Next >

NMLS #6606

5.652%

15-Year Fixed

5.500%

$3,952

Includes 0.988 points for $3,952

Lender Fees: $0

$3,269 /mo

Next >

NMLS #757416

6.332%

30-Year Fixed

6.250%

$3,460

Includes 0.865 points for $3,460

Lender Fees: $0

$2,463 /mo

Next >

NMLS #1025894

6.454%

30-Year Fixed

6.375%

$3,336

Includes 0.659 points for $2,636

Lender Fees: $700

$2,496 /mo

Next >

NMLS #401822

6.506%

30-Year Fixed

6.375%

$5,495

Includes 0.875 points for $3,500

Lender Fees: $1,995

$2,496 /mo

Next >

NMLS #6606

6.577%

30-Year Fixed

6.490%

$3,612

Includes 0.903 points for $3,612

Lender Fees: $0

$2,526 /mo

Next >

NMLS #3030

6.658%

15-Year Fixed

6.500%

$4,000

Includes 1.000 points for $4,000

Lender Fees: $0

$3,485 /mo

Next >

NMLS #3030

7.338%

30-Year Fixed

7.250%

$3,500

Includes 0.875 points for $3,500

Lender Fees: $0

$2,729 /mo

Next >

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.

Although average 30 year rates are at 3.37 percent you can find many lenders quoting 30 year rates below the average. The lowest 30 year refinance rates right now on our rate tables are below 3.00 percent. Right now on our 30 year rates list for California we have two lenders quoting rates at 2.875 percent with 2 mortgage points and one lender quoting rates at 2.99 percent with 2 points. The lowest 30 year refinance rates quoted without points on our list for CA are at 3.00 percent.

Fixed conventional 15 year mortgage rates averaged 2.65 percent with 0.7 mortgage points in Freddie Mac's survey this week, down from the previous week's average 15 year rate of 2.66 percent. Current mortgage rates on 15 year conventional home loans are averaging 2.84 percent but you can find lenders quoting 15 year refinance mortgage rates below the averages.

Currently, on our refinance rate list for the state of Texas we have many lenders quoting rates well below the averages with and without points. The lowest 15 year conforming refinance rate on our TX list are at 2.25 percent with 1.39 mortgage points. The lowest 15 year refinancing rate without points in TX are listed at 2.50 percent.

Average 5 year adjustable mortgage rates in Freddie's survey this week are at 2.71 percent with 0.7 mortgage points, up 1 basis point from last week's average 5 year adjustable rate of 2.70 percent. Today's mortgage rates on 5 year adjustable loans are averaging 2.78 percent but there are many lenders quoting rates considerably below these averages.

5 year adjustable refinance rates today in Florida can be found as low as 1.75 percent with 2 mortgage points. The lowest 5 year adjustable refi rates without points on our FL rate list are at 2.375 percent. On our rate list for the state of Georgia we also have lenders quoting 5 year adjustable rates at 1.75 percent with 2 points and at 2.375 percent with no points.

Average 1 year adjustable mortgage rates averaged 2.52 percent with 0.4 mortgage points for the week that ended on December 20, 2012, down from the prior week's average of 2.53 percent. Below is the clip of Boehner's press conference: