30 Year Conforming Mortgage Rates Today Averaging 3.85 Percent

Mortgage rates today on 30 year conforming loans are currently averaging 3.85 percent, a slight uptick from last week's average 30 year rate of 3.83 percent. Rates barely changed this week but will head lower next week because 10 year U.S. Treasury yields declined almost 5.00 percent on Friday.

10 year yields which hit a high of 2.30 percent last Tuesday, declined 10 basis points on Friday to close at 2.14 percent. The decline in bond yields last week, of about 15 basis points, will send average 30 year mortgage rates back below 3.75 percent.

This is good news if you're refinancing your mortgage or financing the purchase of a home. The average 30 year rate is at 3.85 percent but there are plenty of lenders quoting 30 year refinance rates below the average. If you search around online you can find some lenders are quoting rates as low as 3.625 percent with mortgage points.

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 #1981224

4.924%

15-Year Fixed

4.625%

$8,000

Includes 1.000 points for $4,000

Lender Fees: $4,000

$3,086 /mo

Next >

NMLS #1283930

License: 01970483

5.445%

15-Year Fixed

5.250%

$5,125

Includes 1.000 points for $4,000

Lender Fees: $1,125

$3,216 /mo

Next >

NMLS #1838

5.455%

15-Year Fixed

5.250%

$5,395

Includes 0.974 points for $3,896

Lender Fees: $1,499

$3,216 /mo

Next >

NMLS #1025894

5.548%

15-Year Fixed

5.375%

$4,512

Includes 0.953 points for $3,812

Lender Fees: $700

$3,242 /mo

Next >

NMLS #1981224

5.921%

30-Year Fixed

5.750%

$7,500

Includes 0.875 points for $3,500

Lender Fees: $4,000

$2,335 /mo

Next >

NMLS #401822

6.039%

15-Year Fixed

5.750%

$7,500

Includes 0.875 points for $3,500

Lender Fees: $4,000

$3,322 /mo

Next >

NMLS #3030

6.146%

15-Year Fixed

5.990%

$4,000

Includes 1.000 points for $4,000

Lender Fees: $0

$3,374 /mo

Next >

NMLS #1838

6.231%

30-Year Fixed

6.125%

$4,535

Includes 0.759 points for $3,036

Lender Fees: $1,499

$2,431 /mo

Next >

NMLS #401822

6.289%

30-Year Fixed

6.125%

$7,000

Includes 0.750 points for $3,000

Lender Fees: $4,000

$2,431 /mo

Next >

NMLS #1283930

License: 01970483

6.347%

30-Year Fixed

6.250%

$4,125

Includes 0.750 points for $3,000

Lender Fees: $1,125

$2,463 /mo

Next >

NMLS #1025894

6.477%

30-Year Fixed

6.375%

$4,284

Includes 0.896 points for $3,584

Lender Fees: $700

$2,496 /mo

Next >

NMLS #1981224

6.533%

5-Year ARM

6.375%

$6,740

Includes 0.915 points for $3,660

Lender Fees: $3,080

$2,496 /mo

Next >

NMLS #3030

6.949%

30-Year Fixed

6.875%

$3,000

Includes 0.750 points for $3,000

Lender Fees: $0

$2,628 /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.

Low mortgage rates are helping make homes more affordable for first time home buyers, but buyers are competing for the limited number of homes for sale. The National Association of Realtors expects inventory shortages will keep home sales low this year and next.

The constraints on the number of homes for sale will drive home prices higher. Mortgage rates are also expected to increase this year and next. Higher home prices and higher mortgage rates will make homes less affordable. This will prevent some first time home buyers from realizing the dream of buying a home.

If you're on the fence about buying, you should act sooner than later. As economic growth picks up and the unemployment rate falls further, bond rates and mortgage rates will increase. Qualifying for a mortgage takes some time so the sooner you start the sooner you can pre-qualify for a loan.

Current mortgage rates on 15 year conforming loans are averaging 3.00 percent, unchanged from last week's average rate. This coming week 15 year rates will fall back below 3.00 percent and possibly lower than 2.90 percent. The best 15 year refinance rates available right now in our database of rates are already below 3.00 percent.

Today's mortgage rates on 30 year jumbo loans are averaging 4.21 percent, up 1 basis point from last week's average 30 year jumbo rate. This week, average 30 year jumbo rates will fall back towards 4.10 percent. The best 30 year jumbo refinance rates available are much lower than the average at 3.50 percent with points.

15 year jumbo mortgage rates are averaging 3.72 percent, down 2 basis points from last week's average rate. The lowest 15 year jumbo refi rates in the rate database are considerably lower at 2.99 percent with 1.125 mortgage points. The lowest rate without points is also much lower than the average at 3.125 percent.

5 year conventional adjustable rates are averaging 3.02 percent, a decline from the prior week's average 5 year adjustable rate of 3.12 percent. This week the average rate on 5 year ARMs will fall below 3.00 percent. The best 5 year adjustable refinancing rate in the database is at 2.375 percent with 1 mortgage point.

Jumbo 5 year adjustable mortgage rates are averaging 3.34 percent, down from last week's average 5 year jumbo rate of 3.38 percent. The best 5 year jumbo refi rate currently available is at 2.625 percent with 1.125 points and at 2.75 percent with no points.