Mortgage Rates Today: Lowest 30 Year Conforming Rates at 3.625%

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Average 30 year mortgage rates today are down again and heading back down to the 4.00 percent level as we predicted last week. Current average 30 year mortgage rates are at 4.16 percent, down from the previous week's average rate of 4.23 percent. Last month it looked like 30 year rates would move above 5.00 percent by the end of 2013, now 30 year rates will probably be below 4.00 percent within the next couple of weeks.

Search for 30 Year Rates Here: Mortgage Rates
Loan Type
Purchase    Refinance
Location
State/City    Zip Code
Loan Amt Points FICO % Down
  
$
30 yr fixed refi in 06101, All points, Credit score: 740+     Sort by:
Lender
APR
Rate
Cost & Fees
Notes
 
30 yr fixed Mortgage Loan from Garden State Home Loans
Garden State Home Loans
https://www.brimg.net/system/img/inst/7950_logo.gif
300000
Refinance
3.720
3.624
USD
Garden State Home Loans Logo
NMLS # 473163
State Lic # ML-473163
(877) 387 - 9107
at 0.100 pts
30 day lock rate
Est payment: $1,367.99
Fees in APR: $3,210
Thanks for the inquiry! 
 
30 yr fixed Mortgage Loan from Garden State Home Loans
Garden State Home Loans
https://www.brimg.net/system/img/inst/7950_logo.gif
300000
Refinance
3.874
3.874
USD
Garden State Home Loans Logo
NMLS # 473163
State Lic # ML-473163
(877) 387 - 9107
at 0.000 pts
30 day lock rate
Est payment: $1,410.54
Fees in APR: None
Thanks for the inquiry! 
 
30 yr fixed Mortgage Loan from Better.com
Better.com
https://www.brimg.net/system/img/inst/9722_logo.gif
300000
Refinance
4.000
4.000
USD
Better.com Logo
NMLS # 330511
State Lic # ML-330511
at 0.000 pts
30 day lock rate
Est payment: $1,432.25
Fees in APR: None
Thank you for your quote. 
 
30 yr fixed Mortgage Loan from Garden State Home Loans
Garden State Home Loans
https://www.brimg.net/system/img/inst/7950_logo.gif
300000
Refinance
9.490
9.125
USD
Garden State Home Loans Logo
NMLS # 473163
State Lic # ML-473163
(877) 387 - 9107
at 1.100 pts
30 day lock rate
Est payment: $2,440.90
Fees in APR: $6,153
Thanks for the inquiry! 
 
30 yr fixed mtg refi Mortgage Loan from Bank of America
Bank of America
300000
Refinance
4.087
4.000
USD
Bank of America
4.087%
5/24/2019
4.000%
at 0.590 pts
60 day lock rate
Est payment: $1,432.25
Fees in APR: $1,351
 
 
30 yr fixed mtg refi Mortgage Loan from Savings Bank of Danbury
Savings Bank of Danbury
300000
Refinance
4.147
4.125
USD
Savings Bank of Danbury
4.147%
5/24/2019
4.125%
at 0.000 pts
60 day lock rate
Est payment: $1,453.95
Fees in APR: $790
 
 
30 yr fixed mtg refi Mortgage Loan from First National Bank of Omaha
First National Bank of Omaha
300000
Refinance
4.783
4.750
USD
First National Bank of Omaha
4.783%
5/24/2019
4.750%
at 0.125 pts
60 day lock rate
Est payment: $1,564.94
Fees in APR: $752
 
 
30 yr fixed mtg refi Mortgage Loan from TD Bank, NA
TD Bank, NA
300000
Refinance
4.029
4.000
USD
TD Bank, NA
4.029%
5/21/2019
4.000%
at 0.000 pts
45 day lock rate
Est payment: $1,432.25
Fees in APR: $1,043
 
 
30 yr fixed mtg refi Mortgage Loan from Citizens Bank, NA
Citizens Bank, NA
300000
Refinance
4.405
4.375
USD
Citizens Bank, NA
4.405%
5/17/2019
4.375%
at 0.000 pts
60 day lock rate
Est payment: $1,497.86
Fees in APR: $1,056
 
 
30 yr fixed mtg refi Mortgage Loan from The Guilford Savings Bank
The Guilford Savings Bank
300000
Refinance
4.041
4.000
USD
The Guilford Savings Bank
4.041%
5/24/2019
4.000%
at 0.250 pts
60 day lock rate
Est payment: $1,432.25
Fees in APR: $719
 
 
30 yr fixed mtg refi Mortgage Loan from LincolnWay Community Bank
LincolnWay Community Bank
300000
Refinance
4.030
4.000
USD
LincolnWay Community Bank
4.030%
5/21/2019
4.000%
at 0.000 pts
30 day lock rate
Est payment: $1,432.25
Fees in APR: $1,085
 
 
30 yr fixed mtg refi Mortgage Loan from Union Savings Bank
Union Savings Bank
300000
Refinance
4.274
4.250
USD
Union Savings Bank
4.274%
5/24/2019
4.250%
at 0.000 pts
60 day lock rate
Est payment: $1,475.82
Fees in APR: $852
 
 
30 yr fixed mtg refi Mortgage Loan from UniBank for Savings
UniBank for Savings
300000
Refinance
4.536
4.500
USD
UniBank for Savings
4.536%
5/24/2019
4.500%
at 0.250 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $501
 
 
30 yr fixed mtg refi Mortgage Loan from Santander Bank, N.A.
Santander Bank, N.A.
300000
Refinance
4.306
4.250
USD
Santander Bank, N.A.
4.306%
5/23/2019
4.250%
at 0.000 pts
60 day lock rate
Est payment: $1,475.82
Fees in APR: $2,004
 
 
30 yr fixed mtg refi Mortgage Loan from The Washington Trust Company
The Washington Trust Company
300000
Refinance
4.030
4.000
USD
The Washington Trust Company
4.030%
5/21/2019
4.000%
at 0.000 pts
30 day lock rate
Est payment: $1,432.25
Fees in APR: $1,083
 
 
30 yr fixed mtg refi Mortgage Loan from United Bank
United Bank
300000
Refinance
4.149
4.125
USD
United Bank
4.149%
5/21/2019
4.125%
at 0.000 pts
30 day lock rate
Est payment: $1,453.95
Fees in APR: $865
 
 
30 yr fixed mtg refi Mortgage Loan from Liberty Bank
Liberty Bank
300000
Refinance
4.169
4.125
USD
Liberty Bank
4.169%
5/24/2019
4.125%
at 0.250 pts
60 day lock rate
Est payment: $1,453.95
Fees in APR: $814
 
 

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.






Conforming 30 year mortgage rates are averaging 4.16 percent but most lenders are quoting 30 year rates below the average. Checking on our rate tables, the lowest 30 year mortgage refinance rates are quoted at 3.625 percent with mortgage discount points. The lowest 30 year refinance rates without points are still below the average at 3.875 percent.

Mortgage Rates Following Bond Rates Lower


Mortgage Rates Today Lowest 30 Year Conforming Rates at 3.625Current mortgage rates are heading lower because 10 year U.S. bond rates are heading lower. On Friday, 10 year rates closed down 2 basis points to 2.50 percent. In early September, 10 year bond yields were moving higher and looked to break above 3.00 percent. Since the government shutdown and possible default was resolved, rates moved much lower and closed on Friday at 2.97 percent.

The Federal Reserve will continue to put downward pressure on bond rates and mortgage rates through their stimulus programs. During the summer, markets were concerned the Federal Reserve would end their programs, which sent 10 year bond rates and mortgage rates up over 100 basis points in a month.

The Fed didn't end their programs and now there is talk that the Fed won't end their programs anytime soon because deflation is once again a concern. For the 12 months ending August 2013, the inflation rate was 1.2 percent, which is just above the lowest rate on record.

Conventional 15 Year Mortgage Rates Today


15 year conventional mortgage rates are also lower today, averaging 3.22 percent, a decline from last week's average 15 year mortgage rate of 3.30 percent. Just over a month ago, 15 year rates hit a high of 3.81 percent on average and looked to be moving above 4.00 percent. Now 15 year rates will probably fall below 3.00 percent by the middle of November.

While average 15 year rates are still above 3.00 percent, there are many lenders quoting 15 year rates below 3.00 percent. Currently, the best 15 year rate in our database is quoted at 2.625 percent with just under 2 mortgage points. The best rates on 15 year mortgage loans without points are at 2.875 percent, still below the average rate and still below 3.00 percent.

30 Year Jumbo Mortgage Rates


Average 30 year jumbo mortgage rates today are at 4.32 percent, a decline from last week's average 30 year jumbo mortgage rate of 4.43 percent. Last week 30 year jumbo rates were above 4.50 percent on average and just over a month ago, 30 year jumbo rates were averaging 4.88 percent. Now rates are heading back down to 4.00 percent.

Speaking of 4.00 percent jumbo rates, the best rates in our 30 year jumbo rate database are exactly at 4.00 percent with points. The best 30 year jumbo refinance rates without points are above 4.00 percent but still below the average at 4.125 percent.

Today's 15 Year Jumbo Mortgage Rates


Today's jumbo mortgage rates on 15 year loans are averaging 3.61 percent, a decline from last week's average of 3.77 percent. By early November, 15 year jumbo rates on average will probably be back below 3.50 percent. In early September, 15 year jumbo rates were above 4.00 percent averaging 4.12 percent.

Checking in our database, the lowest 15 year jumbo rates available without any mortgage points are at 3.25 percent. The best refinancing rate without points are still below the average at 3.50 percent.

If you're thinking about refinancing, you should really consider refinancing to a shorter term loan. Going from a 30 year to a 15 year loan will save you a lot of money in interest payments. Depending on the dollar amount of the loan, you can save tens of thousands or hundreds of thousand of dollars in interest payments. You can use a mortgage calculator with interest to see the cost difference when comparing 30 year loans vs. 15 year loans.  Although the monthly payment will be more, you will be saving a lot of money and paying off your house in half the time.  The next 15 years would be mortgage free!

Current Adjustable Mortgage Rates


Average 5 year conforming adjustable mortgage rates are currently at 3.34 percent, down from the previous week's average 5 year adjustable mortgage rate of 3.48 percent. The best adjustable refinance rates in our database are much lower than the average at an incredibly low rate of 2.125 percent with points. The lowest refi rates without points are still well below the average at 2.375 percent.

Today's 5 year jumbo adjustable mortgage rates are back below 3.00 percent averaging 2.83 percent. Last week average 5 year jumbo adjustable rates were averaging 3.03 percent. The lowest 5 year jumbo refi rates with points in our database are also at 2.125 percent and the lowest rate without points is at 2.49 percent.

 
 
Author: Brian McKay
October 28th, 2013