Mortgage Rates Today Decline Following Treasury Yields Lower on Bernanke Comments

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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.
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 Mortgage Loan from CIT Bank
CIT Bank
https://www.brimg.net/system/img/inst/10026_logo.gif
300000
Refinance
4.797
4.700
USD
CIT Bank Logo
NMLS # 541760
at 0.100 pts
45 day lock rate
Est payment: $1,555.91
Fees in APR: $3,057
Thank you for your inquiry! We look forward to working with you. 
 
30 yr fixed Mortgage Loan from Citibank, N. A.
Citibank, N. A.
https://www.brimg.net/system/img/inst/8189_logo.gif
300000
Refinance
4.672
4.625
USD
Citibank, N. A. Logo
NMLS # 412915
(877) 387 - 1820
at 0.000 pts
60 day lock rate
Est payment: $1,542.42
Fees in APR: $1,635
 
 
30 yr fixed Mortgage Loan from CIT Bank
CIT Bank
https://www.brimg.net/system/img/inst/10026_logo.gif
300000
Refinance
9.489
9.125
USD
CIT Bank Logo
NMLS # 541760
at 1.100 pts
45 day lock rate
Est payment: $2,440.90
Fees in APR: $6,145
Thank you for your inquiry! We look forward to working with you. 
 
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 State Department Federal Credit Union
State Department Federal Credit Union
300000
Refinance
4.557
4.500
USD
State Department Federal Credit Union
4.557%
2/11/2019
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 Santander Bank, N.A.
Santander Bank, N.A.
300000
Refinance
4.683
4.625
USD
Santander Bank, N.A.
4.683%
2/15/2019
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 LincolnWay Community Bank
LincolnWay Community Bank
300000
Refinance
4.406
4.375
USD
LincolnWay Community Bank
4.406%
2/12/2019
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 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 Armed Forces Bank, N.A.
Armed Forces Bank, N.A.
300000
Refinance
4.904
4.875
USD
Armed Forces Bank, N.A.
4.904%
2/8/2019
4.875%
at 0.000 pts
30 day lock rate
Est payment: $1,587.62
Fees in APR: $999
 
 
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 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 TD Bank, NA
TD Bank, NA
300000
Refinance
4.403
4.375
USD
TD Bank, NA
4.403%
2/8/2019
4.375%
at 0.000 pts
45 day lock rate
Est payment: $1,497.86
Fees in APR: $982
 
 
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
 
 
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%
2/12/2019
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
4.547
4.500
USD
Virginia Credit Union
4.547%
2/12/2019
4.500%
at 0.000 pts
45 day lock rate
Est payment: $1,520.06
Fees in APR: $1,650
 
 
30 yr fixed mtg refi Mortgage Loan from Raymond James Bank, NA
Raymond James Bank, NA
300000
Refinance
4.788
4.750
USD
Raymond James Bank, NA
4.788%
2/12/2019
4.750%
at 0.000 pts
45 day lock rate
Est payment: $1,564.94
Fees in APR: $1,299
 
 

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.






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.

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.
 
Author: Brian McKay
September 4th, 2012