Mortgage Rates Today January 14, 2020

Mortgage rates today on both conforming and jumbo mortgage loans are lower compared to last week's average rates. Mortgage rates tumbled over the summer of 2019, following the sharp decline in U.S. Treasury yields. Since that time, mortgage rates have been range-bound after hitting a low in September 2019. In the fall of 2019, mortgage rates were just above all-time lows hit in 2013. In fact, rates were poised to make new lows but rates slowly crept higher.

Last fall, average 30-year mortgage rates hit a low of 3.49 percent, only 14 basis points from 2013's all-time low of 3.35 percent. Current mortgage rates on 30-year conforming loans are averaging 3.80 percent, down from the prior week's average rate of 3.83 percent. As you can see, average 30-year rates are only 45 BPS from the all-time record low of 3.35 percent.



Today's mortgage rates on 15-year conventional loans are averaging 3.25 percent, a decline from the previous week's average 15-year rate of 3.27 percent. The all-time low for average 15-year mortgage rates was 2.56 percent back in the spring of 2013, only 74 BPS lower than current rates.

Mortgage rates will continue to be range-bound for most of 2020. We don't expect rates to move much higher than current levels. It is more likely that rates will move lower, especially if economic growth slows or if there is a recession in 2020. If there is a slow down or a recession, we will most likely see mortgage rates hit new all-time lows in 2020.

Average Mortgage Rates Today

Conforming Mortgage Rates

• Today's mortgage rates on 30-year loans are averaging 3.80 percent, a decline from an average 30-year rate of 3.83 percent.


• Current mortgage rates on 15-year fixed-rate home loans are averaging 3.25 percent, down from an average 15-year rate of 3.27 percent.


• Mortgage rates today on 5-year adjustable home loans are averaging 3.43 percent, a slight increase from last week's average 5-year adjustable rate of 3.41 percent.

Jumbo Mortgage Rates

• 30-year jumbo mortgage rates are averaging 3.99 percent, down from an average 30-year jumbo rate of 4.01 percent.


• 15-year jumbo mortgage rates today are averaging 3.49 percent, down from the prior week's average 15-year jumbo rate of 3.52 percent.


• Current mortgage rates on 5-year jumbo loans are averaging 3.19 percent, unchanged from the previous week's average 5-year jumbo adjustable rate.

Search for and compare mortgage rates online at MonitorBankRates.com.