Mortgage Refinance Rates Increase, Mortgage Loan Volume Decreases

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Mortgage refinance rates were higher this week sending mortgage loan volume lower. Conforming 30 year mortgage rates averaged 3.65 percent with 0.39 mortgage points in the Mortgage Banker Association's Weekly Application Survey for the week ending October 26, 2012. In the prior week's mortgage survey, average 30 year mortgage rates were at 3.63 percent with 0.45 mortgage points. As a result of higher rates in this week's survey mortgage applications decreased 4.8 percent from one week earlier.

Average mortgage interest rates were higher in the MBA survey this week but will decline in next week's survey on lower 10 year bond yields this week. 10 year yields have fallen from 1.84 percent on October 25, down to yesterday's close of  1.68 percent. This will send 30 year conventional mortgage rates down at least 10 basis points in the coming week and possibly down to a new all-time record low.
Loan Type
Purchase    Refinance
Location
State/City    Zip Code
Loan Amt Points FICO % Down
  
$
30 yr fixed refi in 95816, All points, Credit score: 740+     Sort by:
Lender
APR
Rate
Cost & Fees
Notes
 
30 yr fixed Mortgage Loan from Optimum First Mortgage Inc.
Optimum First Mortgage Inc.
https://www.brimg.net/system/img/inst/7604_logo.gif
300000
Refinance
4.259
4.125
USD
Optimum First Mortgage Inc. Logo
NMLS # 240415
State Lic # 01525044
(844) 365 - 0454
at 0.100 pts
30 day lock rate
Est payment: $1,453.95
Fees in APR: $4,459
 
 
30 yr fixed Mortgage Loan from Agora Lending
Agora Lending
https://www.brimg.net/system/img/inst/10036_logo.gif
300000
Refinance
3.713
3.625
USD
Agora Lending Logo
NMLS # 1121650
State Lic # 6054815
(877) 387 - 3530
at 0.100 pts
30 day lock rate
Est payment: $1,368.15
Fees in APR: $2,947
Thank you for your inquiry! 
 
30 yr fixed Mortgage Loan from Optimum First Mortgage Inc.
Optimum First Mortgage Inc.
https://www.brimg.net/system/img/inst/7604_logo.gif
300000
Refinance
4.525
4.500
USD
Optimum First Mortgage Inc. Logo
NMLS # 240415
State Lic # 01525044
(844) 365 - 0454
at 0.000 pts
30 day lock rate
Est payment: $1,520.06
Fees in APR: $889
 
 
30 yr fixed Mortgage Loan from Agora Lending
Agora Lending
https://www.brimg.net/system/img/inst/10036_logo.gif
300000
Refinance
3.783
3.750
USD
Agora Lending Logo
NMLS # 1121650
State Lic # 6054815
(877) 387 - 3530
at 0.000 pts
30 day lock rate
Est payment: $1,389.35
Fees in APR: $1,219
Thank you for your inquiry! 
 
30 yr fixed Mortgage Loan from Better Mortgage Inc
Better Mortgage Inc
https://www.brimg.net/system/img/inst/9722_logo.gif
300000
Refinance
3.894
3.875
USD
Better Mortgage Inc Logo
NMLS # 330511
State Lic # 6052748
at 0.000 pts
30 day lock rate
Est payment: $1,410.71
Fees in APR: $700
Thank you for your quote. 
 
30 yr fixed Mortgage Loan from NationsChoice Mortgage
NationsChoice Mortgage
https://www.brimg.net/system/img/inst/8111_logo.gif
300000
Refinance
4.167
4.125
USD
NationsChoice Mortgage Logo
NMLS # 164626
State Lic # 4130556
(877) 388 - 3956
at 0.000 pts
30 day lock rate
Est payment: $1,453.95
Fees in APR: $1,495
 
 
30 yr fixed Mortgage Loan from Better Mortgage Inc
Better Mortgage Inc
https://www.brimg.net/system/img/inst/9722_logo.gif
300000
Refinance
3.689
3.500
USD
Better Mortgage Inc Logo
NMLS # 330511
State Lic # 6052748
at 1.100 pts
30 day lock rate
Est payment: $1,347.13
Fees in APR: $3,643
Thank you for your quote. 
 
30 yr fixed Mortgage Loan from Optimum First Mortgage Inc.
Optimum First Mortgage Inc.
https://www.brimg.net/system/img/inst/7604_logo.gif
300000
Refinance
4.078
3.875
USD
Optimum First Mortgage Inc. Logo
NMLS # 240415
State Lic # 01525044
(844) 365 - 0454
at 1.100 pts
30 day lock rate
Est payment: $1,410.71
Fees in APR: $3,976
 
 
30 yr fixed mtg refi Mortgage Loan from LincolnWay Community Bank
LincolnWay Community Bank
300000
Refinance
4.280
4.250
USD
LincolnWay Community Bank
4.280%
3/19/2019
4.250%
at 0.000 pts
30 day lock rate
Est payment: $1,475.82
Fees in APR: $1,085
 
 
30 yr fixed mtg refi Mortgage Loan from San Diego County Credit Union
San Diego County Credit Union
300000
Refinance
4.304
4.250
USD
San Diego County Credit Union
4.304%
3/20/2019
4.250%
at 0.500 pts
60 day lock rate
Est payment: $1,475.82
Fees in APR: $434
 
 
30 yr fixed mtg refi Mortgage Loan from First Tech Credit Union
First Tech Credit Union
300000
Refinance
4.275
4.250
USD
First Tech Credit Union
4.275%
3/20/2019
4.250%
at 0.000 pts
30 day lock rate
Est payment: $1,475.82
Fees in APR: $898
 
 
30 yr fixed mtg refi Mortgage Loan from Raymond James Bank, NA
Raymond James Bank, NA
300000
Refinance
4.412
4.375
USD
Raymond James Bank, NA
4.412%
3/26/2019
4.375%
at 0.000 pts
45 day lock rate
Est payment: $1,497.86
Fees in APR: $1,299
 
 
30 yr fixed mtg refi Mortgage Loan from Union Bank
Union Bank
300000
Refinance
4.522
4.500
USD
Union Bank
4.522%
3/20/2019
4.500%
at 0.000 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $771
 
 
30 yr fixed mtg refi Mortgage Loan from Schools First FCU
Schools First FCU
300000
Refinance
4.278
4.250
USD
Schools First FCU
4.278%
3/25/2019
4.250%
at 0.000 pts
60 day lock rate
Est payment: $1,475.82
Fees in APR: $995
 
 
30 yr fixed mtg refi Mortgage Loan from Star One Credit Union
Star One Credit Union
300000
Refinance
3.878
3.875
USD
Star One Credit Union
3.878%
3/25/2019
3.875%
at 0.000 pts
45 day lock rate
Est payment: $1,410.71
Fees in APR: $105
 
 
30 yr fixed mtg refi Mortgage Loan from Bank of the West
Bank of the West
300000
Refinance
4.419
4.375
USD
Bank of the West
4.419%
3/26/2019
4.375%
at 0.250 pts
60 day lock rate
Est payment: $1,497.86
Fees in APR: $793
 
 

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.






The MBA's Market Composite Index, which measures mortgage loan application volume for home purchases and refinances, decreased 4.8 percent on a seasonally adjusted basis from one week earlier. The MBA's Refinance Index, which only measures loan application volume for homeowners refinancing an existing loan, decreased 6 percent from the previous week to the lowest level since the end of August.  The MBA's unadjusted Purchase Index, which only measures loan volume for home purchases, declined 0.3 percent compared with the previous week.

Mortgage rates today on 30 year conforming loans are at 3.45 percent in Bankrate's national average rate survey. You can find lenders offering 30 year conforming refinance rates below the MBA average and Bankrate's average. Right now on our New Jersey Refinance Rates list we have two lenders offering 30 year refinance rates at 3.00 percent with points. We also have several lenders offering 30 year refinancing rates in New Jersey at 3.25 percent without points.

In the MBA mortgage survey 30 year jumbo mortgage rates averaged 3.94 percent with 0.36 mortgage points, an increase from the prior week's average 30 year jumbo mortgage rate of 3.85 percent with 0.42 points. Current mortgage rates on 30 year jumbo home loans can be found below the MBA's average. Right now on our 30 year jumbo refinance rates list for the state of New York, we have several lenders offering 30 year jumbo refi rates below 4.00 percent with and without points.

30 year FHA mortgage rates in the MBA survey for the week ending October 26, 2012, averaged 3.41 percent, unchanged from the prior week's average FHA mortgage rate. Average mortgage discount points on FHA mortgages increased to 0.76 points, up from the prior week's average of 0.61 points. Today's mortgage rates on 30 year FHA loans are averaging 3.35 percent.

15 year mortgage interest rates were lower in this week's MBA survey. The average conventional 15 year mortgage rate was at 2.95 percent with 0.35 mortgage points, a decline from last week's average 15 year mortgage rate of 2.96 percent with 0.36 points. Mortgage rates currently on 15 year conforming loans are lower averaging 3.84 percent.

You can find many lenders offering 15 year conforming mortgage refinance rates well below the average rates with and without points. Right now on our 15 year refinance rates list for the state of Texas we have two lenders offering 15 year refi rates at 2.25 percent with points. Without points the lowest rate on our list is at 2.50 percent, also below the average rates.

5 year adjustable mortgage rates also declined in the MBA survey. The average 5 year adjustable mortgage rate declined to 2.66 percent, down from the previous week's average 5 year adjustable mortgage interest rate of 2.72 percent. Average discount points remained unchanged at 0.33 points.

Current mortgage rates today on 5 year adjustable loans are averaging 2.95 percent in Bankrate's national average rate survey. On our 5 year adjustable refinance rates list in the state of California we have many lenders offering rates well below the average. The lowest rate is from Aimloan at 1.75 percent with 1.564 mortgage points.

Feel free to search our rate tables to find the lowest rates in your state. We do NOT require any personal information from you to display a list of rates. Most websites practically require you to sign up for a loan to view their rates.
 
Author: Brian McKay
November 1st, 2012