30 Year Mortgage Rates Today at 3.88 Percent as Housing Starts Decline in February

Mortgage rates are lower today, following 10 year Treasury yields lower. Average 30 year mortgage rates today declined to 3.88 percent, down from the prior week's average rate of 3.92 percent. Mortgage rates might move sharply higher or lower this week after the Federal Open Market Committee (FOMC) wraps up their two day meeting tomorrow.

Equity markets are jittery ahead the expected announcement from the Fed tomorrow, the Dow is down 150 points. Analysts do not expect the Fed to announce a hike interest rates tomorrow but are instead looking for language on when a rate hike might take place.

We believe a federal funds rate hike is most likely in the June meeting. Mortgage rates are not directly tied to the fed funds rate but U.S. Treasury yields are. A fed funds rate hike in June will send Treasury yields higher, which will send mortgage rates higher.

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 MRC'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 #1835285

4.863%

15-Year Fixed

4.750%

$3,000

Includes 0.750 points for $3,000

Lender Fees: $0

$3,112 /mo

Next >

NMLS #2562839

4.875%

15-Year Fixed

4.750%

$3,325

Includes 0.550 points for $2,200

Lender Fees: $1,125

$3,112 /mo

Next >

NMLS #2473786

4.889%

15-Year Fixed

4.750%

$3,707

Includes 0.653 points for $2,612

Lender Fees: $1,095

$3,112 /mo

Next >

NMLS #1067

4.983%

15-Year Fixed

4.875%

$2,868

Includes 0.717 points for $2,868

Lender Fees: $0

$3,138 /mo

Next >

NMLS #757416

4.997%

15-Year Fixed

4.875%

$3,240

Includes 0.810 points for $3,240

Lender Fees: $0

$3,138 /mo

Next >

NMLS #613839

5.076%

15-Year Fixed

4.875%

$5,327

Includes 0.860 points for $3,440

Lender Fees: $1,887

$3,138 /mo

Next >

NMLS #1025894

5.128%

15-Year Fixed

4.990%

$3,660

Includes 0.740 points for $2,960

Lender Fees: $700

$3,162 /mo

Next >

NMLS #2473786

5.231%

5-Year ARM

5.125%

$4,807

Includes 0.928 points for $3,712

Lender Fees: $1,095

$2,178 /mo

Next >

NMLS #1835285

5.342%

5-Year ARM

5.250%

$4,147

Includes 0.912 points for $3,648

Lender Fees: $499

$2,209 /mo

Next >

NMLS #1835285

5.564%

30-Year Fixed

5.500%

$2,827

Includes 0.582 points for $2,328

Lender Fees: $499

$2,272 /mo

Next >

NMLS #613839

5.599%

30-Year Fixed

5.490%

$4,831

Includes 0.736 points for $2,944

Lender Fees: $1,887

$2,269 /mo

Next >

NMLS #2562839

5.609%

30-Year Fixed

5.500%

$4,825

Includes 0.925 points for $3,700

Lender Fees: $1,125

$2,272 /mo

Next >

NMLS #2473786

5.700%

30-Year Fixed

5.625%

$3,291

Includes 0.549 points for $2,196

Lender Fees: $1,095

$2,303 /mo

Next >

NMLS #1067

5.714%

30-Year Fixed

5.625%

$3,932

Includes 0.983 points for $3,932

Lender Fees: $0

$2,303 /mo

Next >

NMLS #757416

5.715%

30-Year Fixed

5.625%

$3,940

Includes 0.985 points for $3,940

Lender Fees: $0

$2,303 /mo

Next >

NMLS #2561451

5.874%

30-Year Fixed

5.750%

$5,542

Includes 0.940 points for $3,760

Lender Fees: $1,782

$2,335 /mo

Next >

NMLS #1025894

5.934%

30-Year Fixed

5.875%

$2,532

Includes 0.458 points for $1,832

Lender Fees: $700

$2,367 /mo

Next >

NMLS #399799

5.980%

30-Year Fixed

5.875%

$4,719

Includes 0.848 points for $3,392

Lender Fees: $1,327

$2,367 /mo

Next >

NMLS #2562839

6.095%

5-Year ARM

5.990%

$4,533

Includes 0.852 points for $3,408

Lender Fees: $1,125

$2,396 /mo

Next >

Rate data provided by RateUpdate.com. Displayed by 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.

Housing starts fell 17 percent in February to 897,000 units, lower than the forecast of 1,097,000. February's number is the first time since last July the number was below 1 million. The sharp decline was primarily due to the bad weather, analysts expect the March number to be back above 1 million. You can view the entire report on new construction: New Residential Construction in February 2015.

Average 30 year conforming rates are at 3.88 percent but there are many lenders quoting 30 year rates below the average. The lowest 30 year refinance rates on the rate table for California are at 3.625 percent with 1 mortgage point.

The more points you are willing to pay the lower the mortgage rate you can get on a loan. Points on loans are available in quarter point increments. Most lenders only allow you to "buy down" the rate with a maximum of 2 points.

Current mortgage rates on 15 year conforming loans are averaging 3.05 percent, a decline from last week's average rate of 3.08 percent. If the Fed hints that a rate hike will come later than June, bonds will rally and we could see 15 year mortgage rates fall back below 3.00 percent.

The best 15 year refinance rates available on the rate table for Connecticut are at 2.875 percent with 1.125 mortgage points. The best rates without points on the table for Connecticut are at 3.125 percent.

Today's mortgage rates on 30 year jumbo loans are averaging 4.22 percent, down 11 basis points from last week's average jumbo rate of 4.33 percent. The lowest 30 year jumbo refinance rate on the table for Colorado is at 3.50 percent with 1 mortgage point.

15 year jumbo mortgage rates are also down 11 basis points this week. The current average rate is 3.94 percent, down from last week's average of 4.05 percent. The lowest 15 year refinance rate available on the table for Florida is at 3.50 percent with 1 mortgage point.

Conforming 5 year adjustable mortgage rates are averaging 3.34 percent, a decline of 1 basis point from the prior week's average of 3.35 percent. The lowest 5 year adjustable refinance rates on the table for Texas are at 2.625 percent with 1 mortgage point. The lowest rate without points is at 2.875 percent.

Jumbo adjustable mortgage rates on 5 year loans are averaging 3.44 percent, down from last week's average of 3.52 percent. The lowest 5 year jumbo adjustable rates currently available in Oregon are at 2.875 percent with 1 point and at 3.125 percent with no points.