Mortgage Rates Today are Mixed After the Election but Just Above Record Lows

Average mortgage rates today are mixed and just above record lows set back in September 2012. Figuring out with direction mortgage rates are headed the rest of 2012 will be unpredictable because of the bickering going on in Washington regarding the fiscal cliff. Regardless of the outcome, we don't expect mortgage rates to head that much higher from here since the Federal Reserve is still forcing rates lower by buying $85 billion a month in mortgage-backed securities.

Current mortgage rates on fixed conforming 30 year and 15 year loans are lower this week. Average 30 year mortgage interest rates are at 3.41 percent, down from last week's average 30 year mortgage rate of 3.46 percent. The all-time record low 30 year rate was 3.37 percent set back in September. Before the end of this year we could see average 30 year conventional mortgage rates go as low as 3.25 percent if Congress and the President can't compromise on taxes and the automatic spending cuts.

Depending on the state you live in you can already find lenders offering 30 year conforming refinance rates below the average of 3.46 percent. In fact, we have lenders offering rates below 3.25 percent with points on 30 year loans. Currently on our Massachusetts refinance rates list we have three different lenders offering 30 year conforming refinance rates at 2.875 percent with points. The lowest rate right now without points is at 3.125 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 MRC'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 #2059741

4.764%

15-Year Fixed

4.625%

$3,708

Includes 0.927 points for $3,708

Lender Fees: $0

$3,086 /mo

Next >

NMLS #2473786

4.779%

15-Year Fixed

4.625%

$4,119

Includes 0.756 points for $3,024

Lender Fees: $1,095

$3,086 /mo

Next >

NMLS #757416

4.894%

15-Year Fixed

4.750%

$3,836

Includes 0.959 points for $3,836

Lender Fees: $0

$3,112 /mo

Next >

NMLS #1954591

License: 60DBO-113383

4.930%

15-Year Fixed

4.750%

$4,839

Includes 0.933 points for $3,732

Lender Fees: $1,107

$3,112 /mo

Next >

NMLS #2473786

4.972%

5-Year ARM

4.875%

$4,451

Includes 0.839 points for $3,356

Lender Fees: $1,095

$2,117 /mo

Next >

NMLS #1928741

4.987%

15-Year Fixed

4.875%

$2,960

Includes 0.740 points for $2,960

Lender Fees: $0

$3,138 /mo

Next >

NMLS #1312186

5.007%

15-Year Fixed

4.875%

$3,500

Includes 0.875 points for $3,500

Lender Fees: $0

$3,138 /mo

Next >

NMLS #6606

5.260%

15-Year Fixed

5.125%

$3,548

Includes 0.887 points for $3,548

Lender Fees: $0

$3,190 /mo

Next >

NMLS #1312186

5.336%

5-Year ARM

5.250%

$3,868

Includes 0.967 points for $3,868

Lender Fees: $0

$2,209 /mo

Next >

NMLS #1954591

License: 60DBO-113383

5.480%

5-Year ARM

5.375%

$4,723

Includes 0.904 points for $3,616

Lender Fees: $1,107

$2,240 /mo

Next >

NMLS #2059741

5.573%

30-Year Fixed

5.490%

$3,700

Includes 0.925 points for $3,700

Lender Fees: $0

$2,269 /mo

Next >

NMLS #2473786

5.587%

30-Year Fixed

5.490%

$4,295

Includes 0.800 points for $3,200

Lender Fees: $1,095

$2,269 /mo

Next >

NMLS #757416

5.687%

30-Year Fixed

5.625%

$2,744

Includes 0.686 points for $2,744

Lender Fees: $0

$2,303 /mo

Next >

NMLS #1928741

5.700%

30-Year Fixed

5.625%

$3,296

Includes 0.824 points for $3,296

Lender Fees: $0

$2,303 /mo

Next >

NMLS #1312186

5.842%

30-Year Fixed

5.750%

$4,000

Includes 1.000 points for $4,000

Lender Fees: $0

$2,335 /mo

Next >

NMLS #1954591

License: 60DBO-113383

5.861%

30-Year Fixed

5.750%

$4,895

Includes 0.947 points for $3,788

Lender Fees: $1,107

$2,335 /mo

Next >

NMLS #6606

5.958%

30-Year Fixed

5.875%

$3,592

Includes 0.898 points for $3,592

Lender Fees: $0

$2,367 /mo

Next >

Rate data provided by RateUpdate.com. Displayed by 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.

Today's mortgage rates on 15 year conventional loans are averaging 2.83 percent, down from last week's average 15 year mortgage interest rate of 2.84 percent. The all-time record low for 15 year fixed conforming rates was set at 2.73 percent back in September. Before the end of this year we will probably see 15 year rates move below the all-time low and possibly as low as 2.65 percent.

Right now you can find many lenders quoting 15 year mortgage refinance rates well below the average of 2.83 percent. Currently, on our 15 year conventional refinance rates list for Florida we have lenders offering rates as low as 2.25 percent with points. The lowest 15 year refinance rate without points in Florida is at 2.50 percent.

Average 30 year jumbo mortgage rates are slightly higher over last week's average rate. Current mortgage rates today on 30 year jumbo loans are averaging 4.07 percent, an increase from an average 30 year jumbo mortgage rate of 4.03 percent. Before the end of 2012 we believe 30 year jumbo rates will fall back below 4.00 percent.

Right now you can already find lenders offering today's refinance rates on 30 year jumbo loans below 4.00 percent. Checking our California refinance rates list on 30 year jumbo loans we have one lender offering rates as low as 3.50 percent with points. The lowest refinancing rate without points in CA is at 3.875 percent.

Average 15 year jumbo mortgage interest rates are at 3.40 percent, a decline from last week's average 15 year jumbo rate of 3.41 percent. As for the future direction of 15 year jumbo rates we predict that rates will fall to an average rate of 3.25 percent this year. Right now on our New Jersey refinance mortgage rates list there are already lenders offering 15 year refi rates below the average at 2.875 percent with points.

5 year adjustable mortgage rates are averaging 2.96 percent, up from the previous week's average 5 year adjustable rate of 2.89 percent. If you're looking for an adjustable rate loan, we have lenders offering 5 year adjustable refinance rates in Texas as low as 1.75 percent with points. Without points the lowest refi rate is at 2.125 percent.

Average 5 year jumbo adjustable mortgage rates are at 2.93 percent, unchanged from last week's average rate. Right now in the state of Connecticut you can find today's refinance rates on 5 year jumbo home loans as low as 2.25 percent with points and at 2.375 percent without points.