Mortgage Rates Today Increase for the Third Consecutive Week

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Mortgage rates today increased making this the third consecutive week that average 30 year mortgage rates are higher in the Primary Mortgage Market Survey released by Freddie Mac. Positive economic news pointing to stronger growth along with lower inflation sent Treasury yields higher which in turn sent current mortgage rates higher as well.

In the PMMS survey average 30 year mortgage rates increased to 3.62 percent with 0.6 mortgage points for the week ending August 16, 2012. The average 30 year mortgage rate is up from last week's average of 3.59 percent.
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 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%
2/20/2019
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 LincolnWay Community Bank
LincolnWay Community Bank
300000
Refinance
4.406
4.375
USD
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
 
 
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%
2/22/2019
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 Bank of Oak Ridge
Bank of Oak Ridge
300000
Refinance
4.295
4.250
USD
Bank of Oak Ridge
4.295%
2/21/2019
4.250%
at 0.250 pts
60 day lock rate
Est payment: $1,475.82
Fees in APR: $853
 
 
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%
2/18/2019
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 Raymond James Bank, NA
Raymond James Bank, NA
300000
Refinance
4.662
4.625
USD
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
 
 
30 yr fixed mtg refi Mortgage Loan from Bank of America
Bank of America
300000
Refinance
4.238
4.125
USD
Bank of America
4.238%
2/20/2019
4.125%
at 0.913 pts
60 day lock rate
Est payment: $1,453.95
Fees in APR: $1,289
 
 
30 yr fixed mtg refi Mortgage Loan from Apple Federal Credit Union
Apple Federal Credit Union
300000
Refinance
4.470
4.375
USD
Apple Federal Credit Union
4.470%
2/20/2019
4.375%
at 1.000 pts
60 day lock rate
Est payment: $1,497.86
Fees in APR: $352
 
 
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%
2/19/2019
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
4.465
4.375
USD
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
 
 
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
 
 

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.






Right now on our 30 year conforming refinance rates list there are lenders offering 30 year refi rates as low as 3.25 percent with points. You can search for refinancing rates in the state you live in to find lenders offering rates below the averages.

Normally lower inflation data would send bond yields lower but not this time as investors see low inflation and stronger growth as a sign that the Fed will not start another round of quantitative easing. This is why bond yields moved up on the economic news that was released.

The 12-month growth in the core consumer price index fell for the second month to 2.1 percent in July. Industrial production rose 0.6 percent in July compared to a 0.1 percent increase in June and retail sales jumped 0.8 percent in July from a 0.7 percent decline in June.

These three positive reports have sent bond yields up to 1.82 percent today. In late July 10 year bond yields hit an all-time record low of 1.39 percent during the day. Now rates have increased more than 40 basis points in just three weeks.

Today's mortgage rates on fixed conforming 15 year loans are averaging 2.96 percent. In Freddie Mac's survey 15 year mortgage rates averaged 2.88 percent with 0.6 points, up from last week's average 15 year mortgage rate of 2.84 percent.

Currently on our 15 year refinance rates table in California there are lenders offering 15 year refinancing rates as low as 2.375 percent with points. Depending on the state you live in you'll find lenders offering different refi rates for the same types of loans.

Current mortgage rates on adjustable mortgage loans are mixed. The average 5 year adjustable mortgage rate is at 2.76 percent with 0.6 points, down from last week's survey that had the average 5 year adjustable mortgage rate at 2.77 percent.

Current refinance rates today on our rate tables are below the average rate. Right now there are lenders advertising 5 year adjustable refi rates as low as 1.88 percent. Search for refinance mortgage rates in your state to see rates as low as 1.88 percent.

Today's mortgage rates on 1 year adjustable mortgage loans are averaging 2.69 percent with 0.4 mortgage points, up from last week's average 1 year adjustable mortgage rate of 2.65 percent.
 
Author: Brian McKay
August 16th, 2012