Current Mortgage Rates on Fixed Conforming Loans Hit Record Lows

Two weeks ago the Federal Reserve announced another around of quantitative easing (QE3) to drive interest rates lower to help stimulate the housing market and the economy. The Fed announced they will buy $40 billion a month in mortgage backed securities to specifically force mortgage rates lower. The Fed's actions are already driving current mortgage rates down to record lows. In this week's Primary Mortgage Market Survey, released by Freddie Mac, fixed conforming mortgage rates on 30 year and 15 year mortgages hit record lows. Average 1 year adjustable mortgage rates also hit a record low in the survey.

Fixed conventional 30 year mortgage interest rates hit a new record low of 3.40 percent 0.6 mortgage discount points for the week ending September 27, 2012. The average 30 year mortgage rate is down from last week's average of 3.49 percent.30 year mortgage rates today on Bankrate's national rate survey are even lower averaging 3.38 percent. 

You can find lenders offering 30 year mortgage refinance rates below the averages on our rates tables. In the state of Pennsylvania there are several lenders offering 30 year refinance rates at 3.00 to 3.25 percent with points and without points. Feel free to search our tables to find the lowest mortgage refinance rates in your state.

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 #2578474

5.666%

15-Year Fixed

5.500%

$4,334

Includes 0.821 points for $3,284

Lender Fees: $1,050

$3,269 /mo

Next >

NMLS #1661781

5.760%

15-Year Fixed

5.625%

$3,673

Includes 0.625 points for $2,500

Lender Fees: $1,173

$3,295 /mo

Next >

NMLS #757416

5.868%

15-Year Fixed

5.750%

$3,060

Includes 0.765 points for $3,060

Lender Fees: $0

$3,322 /mo

Next >

NMLS #1025894

5.886%

15-Year Fixed

5.750%

$3,512

Includes 0.703 points for $2,812

Lender Fees: $700

$3,322 /mo

Next >

NMLS #1067

5.891%

15-Year Fixed

5.750%

$3,652

Includes 0.913 points for $3,652

Lender Fees: $0

$3,322 /mo

Next >

NMLS #3030

6.532%

15-Year Fixed

6.375%

$4,000

Includes 1.000 points for $4,000

Lender Fees: $0

$3,458 /mo

Next >

NMLS #2578474

6.616%

30-Year Fixed

6.500%

$4,850

Includes 0.950 points for $3,800

Lender Fees: $1,050

$2,529 /mo

Next >

NMLS #1661781

6.620%

30-Year Fixed

6.500%

$5,173

Includes 1.000 points for $4,000

Lender Fees: $1,173

$2,529 /mo

Next >

NMLS #1025894

6.735%

30-Year Fixed

6.625%

$4,564

Includes 0.966 points for $3,864

Lender Fees: $700

$2,562 /mo

Next >

NMLS #757416

6.822%

30-Year Fixed

6.750%

$2,968

Includes 0.742 points for $2,968

Lender Fees: $0

$2,595 /mo

Next >

NMLS #1067

6.838%

30-Year Fixed

6.750%

$3,620

Includes 0.905 points for $3,620

Lender Fees: $0

$2,595 /mo

Next >

NMLS #1661781

7.244%

5-Year ARM

7.125%

$4,977

Includes 0.951 points for $3,804

Lender Fees: $1,173

$2,695 /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.

Fixed conforming 15 year mortgage rates averaged 2.73 percent with 0.6 mortgage points for the week ending September 27, 2012, a record low and down from an average 15 year mortgage interest rate of 2.77 percent the prior week. Right now on our 15 year refinance rates list you can find lenders offering 15 year rates below the averages. Currently on our rate list for the state of Florida there are lenders offering today's mortgage rates on 15 year conforming loans as low as 2.50 percent without points.

Average 5 year conforming adjustable mortgage rates were at 2.71 percent with 0.6 mortgage points, down from an average 5 year adjustable mortgage rate of 2.76 percent. Although average 5 year conforming adjustable mortgage interest rates didn't make a record low this week you can find lenders offering 5 year adjustable refinance rates below the averages. On our refinance rates list for the state of California you can find lenders offering 5 year refi rates as low as 2.375 percent with points.

1 year adjustable mortgage rates hit an all-time record low of 2.60 percent with 0.4 mortgage points for the week ending September 27, 2012. The average 1 year adjustable mortgage rate is down from the previous week's average rate of 2.61 percent.