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