Mortgage Rates Move Slightly Higher
Mortgage rates moved slightly higher this week but are not much higher from all-time lows. 30-year mortgage rates are currently averaging 3.69 percent, up from the prior week's average 30-year rate of 3.68 percent. If you're looking for a mortgage to purchase a home or refinance an existing loan, you can easily find 30-year mortgage rates below the average of 3.69 percent. For example, right now on our mortgage rate tables there are lenders quoting 30-year mortgage rates at 3.00 percent.
Average Conforming Mortgage rates
Average Jumbo Mortgage Rates
Low Mortgage Rates Fueling Home Purchases
These near record low mortgage rates are enticing buyers into the market during the winter, which historically has been a slow time for home purchases. The Mortgage Bankers Association reported mortgage applications for new home purchases increased 35.3 percent compared from a year ago. Compared to December 2019, applications increased by 40 percent.
To get the best deal on a mortgage for a home purchase or refinancing a current loan search for and compare mortgage rates right here at MonitorBankRates.com.
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