Mortgage Rates Slightly Higher this Week on Strong Economic News
mortgage rates are slightly higher this week after several weeks of average rates moving lower. Last week, 15 year conforming mortgage rates hit a new all-time record low of 2.56 percent. Average mortgage rates moved higher this week on higher bond yields because of a better than expected employment report that was released last Friday.
Conforming
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Lender
APR
Rate
Cost & Fees
Notes
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
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
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
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
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
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
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
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
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
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
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
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. Low mortgage rates and a healthy housing market are helping the government-sponsored enterprises (GSEs), Freddie Mac and Fannie Mae, repay the United States Treasury billions of dollars they received during the housing collapse. Freddie Mac just reported a record profit of 4.6 billion for the first quarter of 2013. In total both Freddie Mac and Fannie Mae received $170 billion from the U.S. Treasury. So far the GSE's repaid $62 billion back to the Treasury. Low current mortgage rates and a low number of existing homes for sale have continued to send the median home price higher in the first three months of 2013. The National Association of Realtors reported the median existing single-family home price rose in 133 out of 150 metropolitan statistical areas. The NAR also reported the national median existing single-family home price was $176,600 in the first quarter, up 11.3 percent from $158,600 in the first quarter of 2012. This is the largest year over year gain since the height of the housing bubble when the average 13.6 percent in the fourth quarter of 2005. The national average 30 year mortgage rate is averaging 3.52 percent this week, up 10 basis points from last week's average 30 year rate. Although the average 30 year rate is up sharply this week, rates are only 0.25 basis points from the all-time record low of 3.27 percent set late in 2012. There are lenders that are quoting mortgage rates with points and without points well below the current average of 3.52 percent. If you have a good credit score of 660 or higher, you can easily find lenders quoting rates as low as 3.00 percent with 1.5 to 2 mortgage points. The same credit score will get you rates quoted as low as 3.25 percent without mortgage points. Today's mortgage rates on 30 year jumbo mortgage loans are averaging 3.91 percent, an increase from last week's record low average rate of 3.87 percent. The lowest 30 year jumbo refinance rates today on our rate tables are around 3.375 percent without points. The lowest 30 year jumbo refi rates without points are also below the average at 3.375 percent. |
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