Japan’s Economy Contracting 1.6 Percent Will Send Mortgage Rates LowerThe Japanese economy was expected to grow 2.1 percent but actually contracted 1.6 percent. News that the Japanese economy fell into a recession will send bond yields lower, which in turn will send mortgage rates in the U.S. lower. Slowing economic growth in Asia and Europe will keep downward pressure on interest rates in the United States in the coming months. Average mortgage rates are higher this week but will move lower in the coming weeks due to lower bond yields. 10 year bond yields will likely fall near 2.00 percent from the current level of 2.34 percent. 10 year bond yields at 2.00 percent will send average 30 year mortgage rates back below 4.00 percent by the end of 2014. 30 year jumbo rates will also fall below 4.00 percent. There won't be any upward pressure on rates until the summer of 2015 when the Federal Reserve starts increasing interest rates. Mortgage rates today on 30 year conforming loans are averaging 4.08 percent, up from the previous week's average 30 year mortgage rate of 3.99 percent. Rates are higher this week and just above record lows but rates are still low, historically speaking. If you're considering purchasing a home or refinancing your current mortgage, you should do so before rates move higher in the next 6 months. Lender
APR / Rate
Fees / Points
Payment
$5,412
Includes 0.853 points for $3,412
Lender Fees: $2,000
$3,216 /mo
$7,000
Includes 0.750 points for $3,000
Lender Fees: $4,000
$3,242 /mo
$4,565
Includes 0.655 points for $2,620
Lender Fees: $1,945
$3,269 /mo
$5,389
Includes 0.859 points for $3,436
Lender Fees: $1,953
$3,269 /mo
$4,692
Includes 0.998 points for $3,992
Lender Fees: $700
$3,295 /mo
$2,212
Includes 0.553 points for $2,212
Lender Fees: $0
$3,322 /mo
$3,780
Includes 0.945 points for $3,780
Lender Fees: $0
$3,322 /mo
$8,000
Includes 1.000 points for $4,000
Lender Fees: $4,000
$3,295 /mo
$4,504
Includes 0.626 points for $2,504
Lender Fees: $2,000
$2,463 /mo
$6,500
Includes 0.625 points for $2,500
Lender Fees: $4,000
$2,463 /mo
$4,945
Includes 0.750 points for $3,000
Lender Fees: $1,945
$2,529 /mo
$2,384
Includes 0.596 points for $2,384
Lender Fees: $0
$2,562 /mo
$3,548
Includes 0.887 points for $3,548
Lender Fees: $0
$2,561 /mo
$3,984
Includes 0.821 points for $3,284
Lender Fees: $700
$2,562 /mo
$4,853
Includes 0.725 points for $2,900
Lender Fees: $1,953
$2,562 /mo
$5,876
Includes 0.969 points for $3,876
Lender Fees: $2,000
$2,595 /mo
$7,872
Includes 0.968 points for $3,872
Lender Fees: $4,000
$2,595 /mo
$5,495
Includes 0.875 points for $3,500
Lender Fees: $1,995
$2,628 /mo
$3,500
Includes 0.875 points for $3,500
Lender Fees: $0
$3,594 /mo
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.
The best 30 year refinance rates currently available are still below the average rate and still below 4.o0 percent at 3.875 percent with zero points. You can search for lender's rates in all 50 states and the District of Colombia by using our rate tables here: Mortgage Rates Today. 15 year conforming mortgage rates are averaging 3.11 percent, unchanged from last week's average 15 year mortgage rate. The lowest 15 year conforming refinance rates available are at 2.75 percent with 1.375 mortgage rates. The lowest 15 year refinancing rates without points are also below the average at 2.99 percent. 5 year adjustable mortgage rates bucked the uptrend and are lower this week. The current average 5/1 ARM is at 3.22 percent, a decline from the prior week's average 5 year adjustable rate of 3.25 percent. The best 5 year conforming adjustable rates quoted by lenders are much lower than the average at 2.25 percent with 1.10 mortgage points. The lowest 5 year conforming refi rate without points are also below the average at 2.625 percent. Current mortgage rates on 30 year jumbo loans are averaging 4.20 percent, down 2 basis points from last week's average jumbo mortgage rate of 4.22 percent. The best 30 year jumbo refinance rates available from lenders are at 3.625 percent with 0.63 points and at 3.75 percent with no points. 15 year jumbo rates are also lower this week averaging 3.81 percent, down from last week's average rate of 3.86 percent. The lowest 15 year jumbo refinance rates available are at 3.125 percent with 0.63 points and at 3.375 percent with no mortgage points. Today's mortgage rates on 5 year jumbo loans are averaging 3.47 percent, unchanged from last week's average 5 year jumbo rate. The best 5 year adjustable jumbo rates currently available are at 2.625 percent with 0.75 mortgage points. The lowest 5 year jumbo adjustable rates without points are at 2.75 percent. Explore Other Mortgage and Refinance Offers
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