Mortgage Rates Remain Above Record Lows as Short Term Debt Ceiling Deal is Reached

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Current mortgage rates remain above record lows this past week as Republicans decided to delay the debt ceiling fight for another day. Republicans introduced a bill that avoids the potential government default as the Treasury Department bumped up against a $16.4 trillion debt ceiling. Democrats and Republicans in the house easily passed the bill which increases the debt ceiling limit for three months.

U.S. Treasury yields initially fell on the news but increased 10 basis points on Friday as the markets have more certainty about future economic growth not being derailed by politics. Higher Treasury yields will send mortgage rates higher in the coming week but the Fed's policy of buying mortgage-backed securities will keep a lid on the increase in rates.
Loan Type
Purchase    Refinance
Location
State/City    Zip Code
Loan Amt Points FICO % Down
  
$
30 yr fixed refi in 23223, All points, Credit score: 740+     Sort by:
Lender
APR
Rate
Cost & Fees
Notes
 
30 yr fixed mtg refi Mortgage Loan from Northwest Federal Credit Union
Northwest Federal Credit Union
300000
Refinance
4.545
4.500
USD
Northwest Federal Credit Union
4.545%
2/13/2019
4.500%
at 0.500 pts
45 day lock rate
Est payment: $1,520.06
Fees in APR: $79
 
 
30 yr fixed mtg refi Mortgage Loan from LincolnWay Community Bank
LincolnWay Community Bank
300000
Refinance
4.406
4.375
USD
LincolnWay Community Bank
4.406%
2/19/2019
4.375%
at 0.000 pts
30 day lock rate
Est payment: $1,497.86
Fees in APR: $1,085
 
 
30 yr fixed mtg refi Mortgage Loan from Santander Bank, N.A.
Santander Bank, N.A.
300000
Refinance
4.683
4.625
USD
Santander Bank, N.A.
4.683%
2/19/2019
4.625%
at 0.000 pts
60 day lock rate
Est payment: $1,542.42
Fees in APR: $2,004
 
 
30 yr fixed mtg refi Mortgage Loan from Bank of Oak Ridge
Bank of Oak Ridge
300000
Refinance
4.304
4.250
USD
Bank of Oak Ridge
4.304%
2/14/2019
4.250%
at 0.353 pts
60 day lock rate
Est payment: $1,475.82
Fees in APR: $853
 
 
30 yr fixed mtg refi Mortgage Loan from State Department Federal Credit Union
State Department Federal Credit Union
300000
Refinance
4.557
4.500
USD
State Department Federal Credit Union
4.557%
2/18/2019
4.500%
at 0.000 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $2,000
 
 
30 yr fixed mtg refi Mortgage Loan from Raymond James Bank, NA
Raymond James Bank, NA
300000
Refinance
4.662
4.625
USD
Raymond James Bank, NA
4.662%
2/19/2019
4.625%
at 0.000 pts
45 day lock rate
Est payment: $1,542.42
Fees in APR: $1,299
 
 
30 yr fixed mtg refi Mortgage Loan from Bank of America
Bank of America
300000
Refinance
4.326
4.250
USD
Bank of America
4.326%
2/13/2019
4.250%
at 0.472 pts
60 day lock rate
Est payment: $1,475.82
Fees in APR: $1,289
 
 
30 yr fixed mtg refi Mortgage Loan from Apple Federal Credit Union
Apple Federal Credit Union
300000
Refinance
4.596
4.500
USD
Apple Federal Credit Union
4.596%
2/13/2019
4.500%
at 1.000 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $352
 
 
30 yr fixed mtg refi Mortgage Loan from Fulton Bank, NA
Fulton Bank, NA
300000
Refinance
4.686
4.625
USD
Fulton Bank, NA
4.686%
2/19/2019
4.625%
at 0.375 pts
60 day lock rate
Est payment: $1,542.42
Fees in APR: $1,007
 
 
30 yr fixed mtg refi Mortgage Loan from Virginia Credit Union
Virginia Credit Union
300000
Refinance
4.465
4.375
USD
Virginia Credit Union
4.465%
2/19/2019
4.375%
at 0.500 pts
45 day lock rate
Est payment: $1,497.86
Fees in APR: $1,650
 
 
30 yr fixed mtg refi Mortgage Loan from Citizens Bank, NA
Citizens Bank, NA
300000
Refinance
4.665
4.625
USD
Citizens Bank, NA
4.665%
2/15/2019
4.625%
at 0.000 pts
60 day lock rate
Est payment: $1,542.42
Fees in APR: $1,408
 
 

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.






Mortgage rates today on 30 year conventional home loans are averaging 3.52 percent, up from last week's average 30 year mortgage rate of 3.46 percent. The all-time record low 30 year mortgage rate is at 3.27 percent set back in November 2012. Although 30 year rates increased this week you can find lenders quoting rates below the average of 3.52 percent.

Refinance rates today in our rate database for California can be found as low as 3.00 percent with points. We have two lenders currently quoting 30 year refinance rates at 3.00 percent, Amerisave and Aimloan. We also have two lenders, Amerisave and AmericanInterbanc.com, quoting 30 year California refinance rates at 3.25 percent with no points!

Today's mortgage rates on 15 year conventional home loans are averaging 2.88 percent, an increase from last week's average 15 year mortgage rate of 2.84 percent. Right now in our rate database for the state of Colorado we have many lenders quoting 15 year refinance rates below the average of 2.88 percent. The lowest refi rates with points are at 2.375 percent and the lowest rates without points are at 2.50 percent.

Average 30 year jumbo mortgage rates are also higher today at 4.06 percent, up from last week's average 30 year jumbo mortgage rate of 4.02 percent. Average 30 year jumbo rates have been hovering above 4.00 percent for weeks now but will head higher this week. The lowest 30 year jumbo refinance rates with points in our database are well below the average rate. For example, the lowest jumbo rates with points in Florida are at 3.75 percent with 1 point.

15 year jumbo mortgage interest rates are averaging 3.42 percent, an increase from last week's average 15 year jumbo rate of 3.39 percent. Currently, on our rate table for the state of Connecticut the lowest 15 year jumbo refinancing rates are at 2.875 percent with 1 point. The lowest 15 year jumbo rate without points in CT is at 3.00 percent.

Feel free to search our database for rates in your state, best of all you don't have to provide any personal information to view a list of rates.
 
Author: Brian McKay
January 27th, 2013