15 Year Mortgage Rates as Low as 2.25% with 2 Points on a Refinance

Average mortgage rates have hit a series of record lows all year long and will continue to make new record lows in the beginning of 2013. This morning the Mortgage Bankers Association released their Weekly Application Survey which showed 15 year mortgage rates hitting another record average low of 2.86 percent for the week that ended on November 30, 2012, down from the prior week's average rate of 2.86 percent.

Current refinance rates on 15 year conforming loans are even lower than the MBA average. 15 year mortgage refinance rates are averaging 2.83 percent. You can find many lenders offering rates below the averages, right now the lowest 15 year rates on our tables are as low as 2.25 percent with points. If you rather not pay points you can also find lenders quoting 15 year refi rates as low as 2.50 percent.

30 year conventional mortgage rates tied a record low in the MBA survey this week. The average 30 year mortgage rate declined to 3.52 percent with 0.41 mortgage points, down from the last week's average 30 year rate of 3.53 percent with 0.40 points. Today's mortgage rates on 30 year conforming loans are even lower averaging 3.40 percent.

Loan Type

Purchase Refinance with Cash out Refinance

State

Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District Of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming

FICO Score

Superior (780-850) Exceptional (760-779) Excellent (740-759) Very Good (720-739) Good (700-719) Above Average (680-699) Average (660-679) Fair (640-659) Need Improvement (620-639) Poor (350-620)

Loan Amount

$

Points

Up to 0 points Up to 0.5 points Up to 1 points Up to 1.5 points Up to 2 points Up to 2.5 points Up to 3 points

LTV

%

Loan Term

 15-Year Fixed  20-Year Fixed  30-Year Fixed  5-Year ARM  7-Year ARM  10-Year ARM

Show Advertiser Disclosure

The lenders whose rates and other terms appear on this chart are ICB's advertising partners. They provide their rate information to our data partner RateUpdate.com. Unless adjusted by the consumer, advertisers are sorted by APR from lowest to highest. For any advertising partners that do not provide their rate they are listed in advertisement display units at the bottom of the chart. Advertising partners may not pay to improve the frequency priority or prominence of their display. The interest rates, annual percentage rates and other terms advertised here are estimates provided by those advertising partners based on the information you entered above and do not bind. Any lender Monthly payment amounts stated do not include amounts for taxes and insurance premiums. The actual payment obligation will be greater if taxes and insurance are included. Although our data partner RateUpdate.com collects the information from the financial institutions themselves, the accuracy of the data cannot be guaranteed. Rates may change without notice and can change intraday. Some of the information contained in the rate tables including but not limited to special marketing notes is provided directly by the lenders. Please verify the rates and offers before applying for a loan with the financial institution themselves. No rate is binding until locked by a lender.

Lender

APR / Rate

Fees / Points

Payment

NMLS #401822

5.661%

15-Year Fixed

5.375%

$7,500

Includes 0.875 points for $3,500

Lender Fees: $4,000

$3,242 /mo

Next >

NMLS #1025894

5.805%

15-Year Fixed

5.625%

$4,680

Includes 0.995 points for $3,980

Lender Fees: $700

$3,295 /mo

Next >

NMLS #6606

6.022%

15-Year Fixed

5.875%

$3,792

Includes 0.948 points for $3,792

Lender Fees: $0

$3,349 /mo

Next >

NMLS #1025894

6.839%

30-Year Fixed

6.750%

$3,664

Includes 0.741 points for $2,964

Lender Fees: $700

$2,595 /mo

Next >

NMLS #399799

6.854%

30-Year Fixed

6.750%

$4,436

Includes 0.777 points for $3,108

Lender Fees: $1,328

$2,595 /mo

Next >

NMLS #401822

6.884%

30-Year Fixed

6.750%

$5,495

Includes 0.875 points for $3,500

Lender Fees: $1,995

$2,595 /mo

Next >

NMLS #3030

6.889%

15-Year Fixed

6.750%

$3,500

Includes 0.875 points for $3,500

Lender Fees: $0

$3,540 /mo

Next >

NMLS #6606

6.963%

30-Year Fixed

6.875%

$3,580

Includes 0.895 points for $3,580

Lender Fees: $0

$2,628 /mo

Next >

NMLS #3030

7.602%

30-Year Fixed

7.500%

$4,000

Includes 1.000 points for $4,000

Lender Fees: $0

$2,797 /mo

Next >

Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Rate and product details.

If you live in the state of California and are looking for a loan to refinance your current mortgage you can find rates as low as 2.75 percent with 1.50 points. We also have many other lenders offering 30 year refinancing rates below 3.00 percent with points in California and all the other states. The lowest 30 year rate without points is at 3.00 percent, still well below the average rate.

Average 30 year FHA mortgage rates in the MBA survey were at 3.34 percent, matching an all-time record low. Average discount points on FHA loans were at 0.62 points, down from the prior week's average of 0.65 points. Average 5 year adjustable mortgage rates were at 2.62 percent with 0.40 points, an increase from the prior week's average of 2.60 percent with 0.37 points.

There are many lenders quoting 5 year adjustable refinance mortgage rates well below the average of 2.60 percent. Current Texas refinance rates on our 5 year adjustable rate list can be found as low as 1.875 percent with points, the lowest 5 year adjustable rate without points on our Texas list is at 2.25 percent.

Lower fixed mortgage rates helped spur demand for mortgage loans. The MBA's Market Composite Index, which measures mortgage loan application volume, was up 4.5 percent on a seasonally adjusted basis from one week earlier. The MBA's Refinance Index, which measures loan demand for refinancing loans, was up 6 percent from the previous week.  The MBA"s seasonally adjusted Purchase Index, a measure of loan demand for home purchases, increased 0.1 percent from one week earlier.