30 Year Mortgage Rates Hit New Record Low of 3.62% Today

Average mortgage rates are once again lower today as bond yields hover just above record lows. Fixed conforming 30 year mortgage rates today are averaging 3.62 percent, down from last week's average 30 year mortgage rate of 3.67 percent. Markets have been jittery on the debt issues in Europe and the ratings downgrade of a slew of banks by Moody's Investor Services.

Current 10 year Treasury yields which hit a high of 1.68 percent on Wednesday retreated back down to 1.60 percent yesterday and are up 5 basis points this morning at 1.67 percent. The Fed Chairman Ben Bernanke said the Fed will continue the Twist (buying long term bonds and selling short term bonds) to drive interest rates lower.

The Fed said it would extend its holdings of long-term government bonds by $267 billion continuing the effort to bring down borrowing costs. Ben also said the Federal Reserve was ready to take more action if needed in the statement following its two-day meeting this past week.

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 #78669

5.385%

15-Year Fixed

5.125%

$7,042

Includes 0.656 points for $2,624

Lender Fees: $4,418

$3,190 /mo

Next >

NMLS #1067

5.514%

15-Year Fixed

5.375%

$3,624

Includes 0.906 points for $3,624

Lender Fees: $0

$3,242 /mo

Next >

NMLS #401822

5.516%

15-Year Fixed

5.250%

$7,000

Includes 0.750 points for $3,000

Lender Fees: $4,000

$3,216 /mo

Next >

NMLS #1835285

5.526%

15-Year Fixed

5.375%

$3,956

Includes 0.989 points for $3,956

Lender Fees: $0

$3,242 /mo

Next >

NMLS #2578474

5.551%

15-Year Fixed

5.375%

$4,606

Includes 0.889 points for $3,556

Lender Fees: $1,050

$3,242 /mo

Next >

NMLS #2326098

License: 60DBO-181478

5.556%

15-Year Fixed

5.375%

$4,909

Includes 0.739 points for $2,956

Lender Fees: $1,953

$3,242 /mo

Next >

NMLS #757416

5.592%

15-Year Fixed

5.490%

$2,652

Includes 0.663 points for $2,652

Lender Fees: $0

$3,267 /mo

Next >

NMLS #1025894

5.627%

15-Year Fixed

5.490%

$3,572

Includes 0.718 points for $2,872

Lender Fees: $700

$3,267 /mo

Next >

NMLS #78669

5.796%

5-Year ARM

5.625%

$7,746

Includes 0.832 points for $3,328

Lender Fees: $4,418

$2,303 /mo

Next >

NMLS #78669

6.295%

30-Year Fixed

6.125%

$7,454

Includes 0.759 points for $3,036

Lender Fees: $4,418

$2,431 /mo

Next >

NMLS #1835285

6.344%

30-Year Fixed

6.250%

$4,000

Includes 1.000 points for $4,000

Lender Fees: $0

$2,463 /mo

Next >

NMLS #2578474

6.360%

30-Year Fixed

6.250%

$4,650

Includes 0.900 points for $3,600

Lender Fees: $1,050

$2,463 /mo

Next >

NMLS #757416

6.437%

30-Year Fixed

6.375%

$2,596

Includes 0.649 points for $2,596

Lender Fees: $0

$2,496 /mo

Next >

NMLS #1067

6.451%

30-Year Fixed

6.375%

$3,208

Includes 0.802 points for $3,208

Lender Fees: $0

$2,496 /mo

Next >

NMLS #2326098

License: 60DBO-181478

6.501%

5-Year ARM

6.375%

$5,501

Includes 0.887 points for $3,548

Lender Fees: $1,953

$2,496 /mo

Next >

NMLS #2326098

License: 60DBO-181478

6.511%

30-Year Fixed

6.375%

$5,897

Includes 0.986 points for $3,944

Lender Fees: $1,953

$2,496 /mo

Next >

NMLS #1025894

6.569%

30-Year Fixed

6.490%

$3,296

Includes 0.649 points for $2,596

Lender Fees: $700

$2,526 /mo

Next >

NMLS #1835285

6.587%

5-Year ARM

6.500%

$3,624

Includes 0.906 points for $3,624

Lender Fees: $0

$2,529 /mo

Next >

NMLS #399799

6.595%

30-Year Fixed

6.500%

$4,108

Includes 0.695 points for $2,780

Lender Fees: $1,328

$2,529 /mo

Next >

NMLS #401822

6.620%

30-Year Fixed

6.500%

$4,995

Includes 0.750 points for $3,000

Lender Fees: $1,995

$2,529 /mo

Next >

NMLS #3030

6.764%

15-Year Fixed

6.625%

$3,500

Includes 0.875 points for $3,500

Lender Fees: $0

$3,512 /mo

Next >

NMLS #3030

7.350%

30-Year Fixed

7.250%

$4,000

Includes 1.000 points for $4,000

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.

Today's mortgage rates on 15 year conforming home loans are averaging 2.97 percent, down from last week's average 15 year mortgage rate of 3.02 percent. The mortgage rate trend on 15 year rates will continue to decline in the coming months as the economy slows.

Current mortgage rates on 30 year jumbo loans are averaging 4.27 percent, a decline from last week's average 30 year jumbo mortgage rate of 4.30 percent. Mortgage rates today on 15 year jumbo loans are averaging 3.67 percent, down from last week's average 15 year jumbo rate of 3.72 percent.

Today's adjustable mortgage interest rates are mixed this week over last week. Current 5 year conforming adjustable mortgage rates are averaging 2.68 percent, up 1 basis point from last week's average of 2.67 percent. 5 year jumbo adjustable mortgage rates are averaging 2.87 percent, down from last week's average of 2.68 percent.