Mortgage Rates Today Decline Following Treasury Yields Lower on Bernanke Comments

Falling Treasury yields late last week are sending mortgage rates today lower on both conforming and jumbo mortgage loans. 10 year Treasury yields closed at 1.56 percent last Friday on news the Federal Reserve is more likely to act with another round of quantitative easing to force bond yields lower. At a conference in Jackson Hole, Wyoming, the Fed Chairman, Ben Bernanke, said they are ready to act with more easing if the economy slows down. This news sent bond yields lower and current mortgage rates lower as well.

We might see the Fed act early next week with QE3 if non-farm payroll numbers come in less than the expected 130,000 for August. If the August employment report is weaker than expected bond yields and mortgage rates will move lower regardless of whether or not the Fed acts next week. 10 year bond yields will break through the all-time record low of 1.39 percent set on July 24, 2012.

Average 30 year conventional mortgage rates which are at 3.53 percent today will make new record lows as well. Average 30 year mortgage interest rates are down from of 3.55 percent set on Friday. If bond yields fall this week average conforming 30 year mortgage rates will also fall and probably break though the all-time record low of 3.47 percent set in late July of this year.

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

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The lenders whose rates and other terms appear on this chart are ICB'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 #1835285

5.315%

15-Year Fixed

5.125%

$5,000

Includes 0.750 points for $3,000

Lender Fees: $2,000

$3,190 /mo

Next >

NMLS #401822

5.554%

15-Year Fixed

5.250%

$8,000

Includes 1.000 points for $4,000

Lender Fees: $4,000

$3,216 /mo

Next >

NMLS #2059741

5.626%

15-Year Fixed

5.490%

$3,536

Includes 0.884 points for $3,536

Lender Fees: $0

$3,267 /mo

Next >

NMLS #1025894

5.756%

15-Year Fixed

5.625%

$3,404

Includes 0.676 points for $2,704

Lender Fees: $700

$3,295 /mo

Next >

NMLS #6606

5.884%

15-Year Fixed

5.740%

$3,732

Includes 0.933 points for $3,732

Lender Fees: $0

$3,320 /mo

Next >

NMLS #1835285

6.356%

30-Year Fixed

6.250%

$4,500

Includes 0.625 points for $2,500

Lender Fees: $2,000

$2,463 /mo

Next >

NMLS #1835285

6.513%

5-Year ARM

6.375%

$5,804

Includes 0.951 points for $3,804

Lender Fees: $2,000

$2,496 /mo

Next >

NMLS #2059741

6.569%

30-Year Fixed

6.490%

$3,312

Includes 0.828 points for $3,312

Lender Fees: $0

$2,526 /mo

Next >

NMLS #1025894

6.721%

30-Year Fixed

6.625%

$3,956

Includes 0.814 points for $3,256

Lender Fees: $700

$2,562 /mo

Next >

NMLS #401822

6.770%

30-Year Fixed

6.625%

$5,995

Includes 1.000 points for $4,000

Lender Fees: $1,995

$2,562 /mo

Next >

NMLS #3030

6.889%

15-Year Fixed

6.750%

$3,500

Includes 0.875 points for $3,500

Lender Fees: $0

$3,540 /mo

Next >

NMLS #6606

6.960%

30-Year Fixed

6.875%

$3,468

Includes 0.867 points for $3,468

Lender Fees: $0

$2,628 /mo

Next >

NMLS #3030

7.589%

30-Year Fixed

7.500%

$3,500

Includes 0.875 points for $3,500

Lender Fees: $0

$2,797 /mo

Next >

Rate data provided by RateUpdate.com. Displayed by ICB, a division of 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 30 year jumbo mortgage loans are averaging 4.21 percent, down from Friday's average 30 year jumbo mortgage rate of 4.21 percent. Average jumbo mortgage rates might possibly break though 4.00 percent in the coming weeks if bond yields make new lows. You can find lenders offering 30 year jumbo mortgage rates as low as 3.88 with points. Currently on our 30 year jumbo refinance rates list for the state of California, Bank of America is listed offering 30 year jumbo refi rates at 3.88 percent with 0.875 points.

Mortgage rates today on 15 year conventional mortgage loans are averaging 2.90 percent, down from an average 15 year mortgage rate of 2.91 percent. Over the next couple of weeks we might see average 15 year mortgage interest rates drop to around 2.75 percent. There are lenders right now offering 15 year refinance rates below the average of 2.90 percent. Right now on our 15 year refinancing rates list in the state of North Carolina, Amerisave is offering 15 year refi rates at 2.63 percent with 0.563 points. If you rather not pay points we have lenders listing with rates at 2.75 percent without points.

Average 15 year jumbo mortgage rates current are averaging 3.42 percent, a decline from an average 15 year refinance mortgage rate of 3.43 percent. As with other average rates you can find 15 year jumbo mortgage interest rates below the averages on our rate tables. Right now on our rate list in Texas, Citi is offering 15 year jumbo refinance rates at 3.25 percent with no points.

Adjustable mortgage rates todays are also lower on both 5 year conforming loans and 5 year jumbo loans. Conforming 5 year adjustable mortgage interest rates are averaging 2.84 percent, a decline from an average 5 year adjustable mortgage rate of 2.86 percent.

Right now on our 5 year adjustable refinance rates list in Tennessee, First Tennessee Bank is listed offering 5 year adjustable refinance rates at 2.33 percent with 1 mortgage point. Another lender, Lenderfi.com is listed as offering 5 year refi rates at 2.38 percent with zero points.

Current jumbo mortgage rates today on 5 year adjustable loans are averaging 2.85 percent, down from an average 5 year jumbo adjustable mortgage rate of 2.87 percent. Right now on our 5 year jumbo adjustable rate list in the state of Virginia we have Citi Mortgage, WCS Lending and Gateway Bank Mortgage all offering 5 year rates at 2.63 percent with zero points.