Today’s Mortgage Rates Increase as 10 Year Bond Rates Top 3.00 Percent

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Average mortgage rates are higher today as 10 year bond rates closed above 3.00 percent on Friday. Today's mortgage rates on 30 year conforming loans are averaging 4.56 percent, an increase from the prior week's average 30 year rate of 4.48 percent. Mortgage rates have slowly drifted higher all December long and will continue to move higher in 2014.

Current mortgage rates are moving higher next year because the Federal Open Market Committee (FOMC) finally announced they would start tapering their purchases of long term bonds and mortgage-backed securities (MBS). The buys, to the tune of $85 billion a month for over a year now, were designed to keep a lid on interest rates. The FOMC stated that starting in January they will decrease these purchases by $10 billion a month and completely stop them by the end of 2014.
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.






You can view the Federal Reserve Chairman Ben Bernanke's press conference here:



 

Mortgage Rates Today Move Higher


Todays Mortgage Rates Increase as 10 Year Bond Rates Top 300 PercentBoth fixed mortgage rates and adjustable mortgage rates moved higher today but are still historically low. 15 year conventional mortgage rates today are averaging 3.57 percent, up from the previous week's average 15 year mortgage rate of 3.53 percent. In the beginning of 2013, average 15 year mortgage rates were only slightly lower than current levels, averaging 3.34 percent in the first week of January.

if you're thinking about refinancing a mortgage now is a good time. Looking forward to 2014, average 15 year mortgage rates are predicted to move up to around 3.75 percent during the first six months of the year. By the end of 2014 average 15 year rates will move above 4.00 percent.

Average 15 year rates are around 3.50 percent but you can find many lenders quoting 15 year refinance rates well below the current average. The lowest 15 year refinance rates today in our database for the state of California are at 3.00 percent with just over 1 mortgage point. The best refinance rates without points in the state of CA are still below the average at 3.25 percent.

Current Mortgage Rates on 30 Year Jumbo Mortgages


Back in early 2013, average 30 year jumbo mortgage rates were just above 4.00 percent and the all-time low was 3.94 percent set late in 2012. The rate spread between 30 year conforming and 30 year jumbo rates has been low all year long. At one point during the year, average jumbo rates were actually lower than average conforming rates.

30 year jumbo mortgage rates are currently averaging 4.64 percent, up from last week's average 30 year jumbo mortgage rate of 4.60 percent. 30 year jumbo rates are higher than earlier this year but are also low historically speaking, and low when compared to average 30 year conforming rates. In the coming year, 30 year jumbo rates will move towards 5.00 percent and as high as 5.25 percent late in 2014.

If you're checking for the lowest jumbo rates, we have lenders quoting 30 year jumbo refinance rates below the average in all states. The lowest 30 year jumbo refi rate in the state of North Carolina is currently at 4.00 percent with 2 mortgage points. The lowest 30 year refi rates without points is also below the average at 4.50 percent.

15 Year Jumbo Mortgage Rates Today


Average 15 year jumbo mortgage rates today are at 3.89 percent, an increase from last week's average 15 year jumbo rate of 3.84 percent. The increase in 15 year jumbo rates in 2013 was similar to the increase in 30 year rates. Back in January of 2013, average 15 year jumbo rates were around 3.35 percent.

Looking at rates next year, average 15 year rates will move above 4.00 percent and as high as 4.50 percent to 4.75 percent by the end of 2014. Right now there are still many lenders quoting 15 year jumbo rates below 4.00 percent. The lowest 15 year jumbo rate with points in the state of New Jersey are currently at 3.375 percent with 2 mortgage points. The lowest 15 year rates without points in NJ are at 3.50 percent.

Today's Adjustable Mortgage Rates


Today's 5 year conforming adjustable mortgage rates are currently averaging 3.74 percent, an increase from the prior week's average 5 year adjustable mortgage rate of 3.60 percent. The best adjustable refinance rates right now in our database for the state of Texas are currently at 2.25 percent with 1.831 points. The best rate without points in TX is still well below the average at 2.75 percent.

Average 5 year jumbo adjustable rates this week are at 3.02 percent, an increase from last week's average rate of 2.97 percent. The lowest 5 year jumbo adjustable rates in our database are also much lower than the average. Checking on our table for the state of Florida the best 5 year rates are at 2.50 percent with 2 mortgage points.
 
Author: Brian McKay
December 31st, 2013