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Mortgage Rates Today Decline: 30 Year Rates Averaging 3.46 Percent

Current mortgage rates today are lower, after moving higher the past two weeks.  Thankfully, bond yields fell late last week on news House Republicans were voting to raise the debt ceiling for another three months. 10 year bond yields fell 5 basis points to 1.84 percent after touching a high for the week at 1.89 percent on Thursday.

As a result, average mortgage rates moved lower on both conforming loans and jumbo loans. 30 year conventional mortgage rates are averaging 3.46 percent, a decline from yesterday's average 30 year mortgage rate of 3.48 percent. This coming week average 30 year mortgage refinance rates will continue to drop and we will probably see rates move down to 3.40 percent.

You can already find lenders quoting 30 year conforming mortgage rates below the average of 3.48 percent and even below our prediction of 3.40 percent. Depending on the state you live in, you can find lenders quoting 30 year refinance rates as low as 2.875 percent with points on our rate tables. The lowest 30 year refinancing rates without points are around 3.25 percent.

Current mortgage rates on 15 year conforming loans are averaging 2.84 percent, a decline from yesterday's average 15 year mortgage interest rate of 2.87 percent. This coming week average 15 year mortgage rates will fall towards 2.75 percent. There are plenty of lenders quoting mortgage rates on 15 year conforming loans well below the average rate.

Right now on our 15 year refinance rates list, for the state of California there are lenders quoting rates as low as 2.25 percent with points and without points. In the state of Texas, the lowest 15 year refi rate in our database is also 2.25 percent with 1.099 points. Feel free to search our rate list of the best mortgage rates in the state you live in.

30 year jumbo mortgage rates today are averaging 4.02 percent, down from Saturday's average 30 year jumbo mortgage rate of 4.05 percent. For the past several months average 30 year jumbo rates have been just above 4.00 percent. This coming week I don't anticipate 30 year rates dropping below 4.00 percent, though right now you can find lenders quoting jumbo rates below 4.00 percent.

On our 30 year jumbo refinance rates list for the state of New Jersey, the lowest jumbo rate is at 3.50 percent with 1 mortgage point. The lender quoting that rate and point combination on our rate list in NJ is Guaranteed Rate. The lowest 30 year jumbo refi rate without points on our list in NJ is from Investors Home Mortgage at 3.625 percent.

Average 15 year jumbo mortgage rates currently are at 3.41 percent, a decline from yesterday's average 15 year jumbo mortgage rate of 3.42 percent. The lowest 15 year jumbo refinance rate on our list in the state of Connecticut is at 2.875 percent with 1 point  and the lowest rate without points is at 3.00 percent.

You can search for and compare mortgage quotes from many lenders by using our rate tables. Best of all you don't have to provide any financial information to see a list of rates.
Author: Brian McKay
January 21st, 2013