15 Year Mortgage Rates Hit New All-Time Record Low at 2.61%

Conforming 15 year mortgage rates just hit a new all-time record low of 2.61 percent in Freddie Mac's mortgage survey, breaking through the old record low of 2.63 percent set in November 2012. This is the fourth consecutive week fixed conforming mortgage rates are lower and probably will continue to decline in the coming weeks, thanks to lower U.S. Treasury yields.

Low mortgage rates today is the main factor in helping the housing market recover from the worst housing bust since the Great Depression. Another analyst just make a bold prediction on housing prices for this year and next. Barclays analyst Stephen Kim, in a Wall Street Journal article is predicting housing prices will climb 13 percent in 2013 and another 8 percent in 2014.

Two more years of double or almost double digit increases in housing prices is remarkable, considering that prices have already gained double digits increases in 2012. The National Association of Realtors reported the national median existing-home price was up 12.3 percent between January 2011 and January 2012.

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

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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

5.478%

15-Year Fixed

5.250%

$6,000

Includes 0.500 points for $2,000

Lender Fees: $4,000

$3,216 /mo

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NMLS #1025894

5.515%

15-Year Fixed

5.375%

$3,660

Includes 0.740 points for $2,960

Lender Fees: $700

$3,242 /mo

Next >

NMLS #6606

5.652%

15-Year Fixed

5.500%

$3,952

Includes 0.988 points for $3,952

Lender Fees: $0

$3,269 /mo

Next >

NMLS #1025894

6.454%

30-Year Fixed

6.375%

$3,336

Includes 0.659 points for $2,636

Lender Fees: $700

$2,496 /mo

Next >

NMLS #401822

6.506%

30-Year Fixed

6.375%

$5,495

Includes 0.875 points for $3,500

Lender Fees: $1,995

$2,496 /mo

Next >

NMLS #6606

6.577%

30-Year Fixed

6.490%

$3,612

Includes 0.903 points for $3,612

Lender Fees: $0

$2,526 /mo

Next >

NMLS #3030

6.658%

15-Year Fixed

6.500%

$4,000

Includes 1.000 points for $4,000

Lender Fees: $0

$3,485 /mo

Next >

NMLS #3030

7.338%

30-Year Fixed

7.250%

$3,500

Includes 0.875 points for $3,500

Lender Fees: $0

$2,729 /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.

Average 30 year mortgage rates are down to 3.40 percent with 0.8 mortgage points in Freddie Mac's Primary Mortgage Market Survey this week. 30 year rates are down slightly from the prior week's average of 3.41 percent. The all-time record low for 30 year conventional mortgage rates in Freddie Mac's survey is 3.27 percent, set back in November 2012.

Current mortgage rates on 30 year conventional loans can be found below the averages mentioned above. Today's mortgage rates can be found as low as 3.00 percent with points on our rate tables. The lowest 30 year rates without points are also below the average at 3.25 percent. You can find rates lower than the averages in most (if not all) states listed in our database.

There are mortgage lenders also quoting 15 year refinance rates today that are much lower than the record low average rate of 2.61 percent. We have lenders quoting current mortgage refinance rates as low as 2.25 percent with points. The lowest 15 year rates without points are also quoted below the average at 2.50 percent.

5 year adjustable mortgage rates averaged 2.58 percent with 0.5 mortgage points, down from the previous week's average rate of 2.60 percent. Depending on the state you search for rates, the lowest 5 year adjustable refinance rates in our database are at an incredibly low rate of 1.50 percent with points. We also have lenders quoting 5 year adjustable refi rates without points at 2.00 percent, still below the average rate of 2.58 percent.