30 Year Mortgage Rates Finish 2012 Near Historic Lows

30 year mortgage rates ended 2012 just above historic lows as the Federal Reserve's efforts to drive mortgage rates lower have become every effective. In this week's Primary Mortgage Market Survey released by Freddie Mac average conforming 30 year mortgage rates were at 3.35 percent with 0.7 points for the week ending December 27, 2012. In the previous week's survey the average 30 year mortgage rate was at 3.37 percent.

Low mortgage rates and low home prices in 2012 has kept home-buyer affordability high for the entire year and will continue to do so for the next couple of years.

Home prices are still very affordable compared to a few years ago even though prices have increased in 2012 according to the S&P/Case Shiller composite index. The index of 20 metropolitan areas gained 0.7 percent in October on a seasonally adjusted basis, the ninth consecutive month of higher home prices.

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

5.478%

15-Year Fixed

5.250%

$6,000

Includes 0.500 points for $2,000

Lender Fees: $4,000

$3,216 /mo

Next >

NMLS #757416

5.494%

15-Year Fixed

5.375%

$3,112

Includes 0.778 points for $3,112

Lender Fees: $0

$3,242 /mo

Next >

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 #757416

6.332%

30-Year Fixed

6.250%

$3,460

Includes 0.865 points for $3,460

Lender Fees: $0

$2,463 /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 15 year conventional mortgage rates were at 2.65 percent with 0.7 mortgage points for the week that ended on December 27, 2012, unchanged from the prior week's average 15 year mortgage rate. Average rates are just averages, you can find lenders quoting both 30 year and 15 year rates below the average.

We have lenders quoting 30 year refinance rates today as low as 2.875 percent with points in certain states on our rate tables. 30 year refinance rates offered this low have points anywhere between 1.5 points to 2 points depending on the lender. 30 year rates without points can be found as low as 3.25 percent depending on the state you're searching our rate tables for.

15 year mortgage rates today can also be found well below the average rate of 2.65 percent. The lowest 15 year mortgage rate on our rate table in the state of Texas can be found as low as 2.25 percent with 2 points right now. The best refi rate without points on 15 year conforming loans can be found as low as 2.50 percent.

Average adjustable mortgage rates in this week's rate survey are mixed. Average 5 year conventional adjustable mortgage rates declined to 2.70 percent with 0.7 mortgage points, down 1 basis point from the prior week's survey average of 2.71 percent. Average 1 year adjustable mortgage rates increased to 2.56 percent with 0.5 points, up from the prior week's average 1 year adjustable mortgage interest rate of 2.52 percent.

Fixed mortgage rates are so low right now I don't know why anyone would want to get an adjustable loan. If you are looking for 5 year conforming adjustable rates we have lenders offering rates as low as 1.875 percent with 2 mortgage points on our rate table for Washington State. The same lender is also quoting 5 year refinance rates in many other states at 1.875 percent.