Mortgage Rates Drop Again: 30 Year Mortgage Rates at 4.72%, 15 Year Mortgage Rates at 4.14%

Mortgage rates continue to drop making new lows this week. For the past several weeks, mortgage rates and bond yields have headed down on news about the European financial crisis and a slowing of the global economic recovery. Mortgage rates and interest rates have gone down further this past week on the June 23 Federal Open Market Committee (FOMC) statement.

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In the statement, the committee believes the economic recovery will be moderate and current inflation is heading lower. The committee also feels inflation will be subdued for some time.  As a result the FOMC decided to keep the federal funds rate in a targeted range of 0 to 1/4 percent which wasn't a surprise. The Fed's current language "to warrant exceptionally low levels of the federal funds rate for an extended period" wasn't changed either.

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 #1835285

5.026%

15-Year Fixed

4.875%

$4,000

Includes 1.000 points for $4,000

Lender Fees: $0

$3,138 /mo

Next >

NMLS #2473786

5.041%

15-Year Fixed

4.875%

$4,411

Includes 0.829 points for $3,316

Lender Fees: $1,095

$3,138 /mo

Next >

NMLS #757416

5.131%

15-Year Fixed

4.990%

$3,736

Includes 0.934 points for $3,736

Lender Fees: $0

$3,162 /mo

Next >

NMLS #1067

5.146%

15-Year Fixed

5.000%

$3,848

Includes 0.962 points for $3,848

Lender Fees: $0

$3,164 /mo

Next >

NMLS #613839

5.192%

15-Year Fixed

4.990%

$5,351

Includes 0.866 points for $3,464

Lender Fees: $1,887

$3,162 /mo

Next >

NMLS #1312186

5.277%

15-Year Fixed

5.125%

$4,000

Includes 1.000 points for $4,000

Lender Fees: $0

$3,190 /mo

Next >

NMLS #2433973

5.309%

15-Year Fixed

5.125%

$4,965

Includes 0.750 points for $3,000

Lender Fees: $1,965

$3,190 /mo

Next >

NMLS #1954591

License: 60DBO-113383

5.316%

15-Year Fixed

5.125%

$5,099

Includes 0.998 points for $3,992

Lender Fees: $1,107

$3,190 /mo

Next >

NMLS #2473786

5.362%

5-Year ARM

5.250%

$5,043

Includes 0.987 points for $3,948

Lender Fees: $1,095

$2,209 /mo

Next >

NMLS #6606

5.398%

15-Year Fixed

5.250%

$3,880

Includes 0.970 points for $3,880

Lender Fees: $0

$3,216 /mo

Next >

NMLS #1835285

5.466%

5-Year ARM

5.375%

$4,055

Includes 0.889 points for $3,556

Lender Fees: $499

$2,240 /mo

Next >

NMLS #1025894

5.508%

15-Year Fixed

5.375%

$3,464

Includes 0.691 points for $2,764

Lender Fees: $700

$3,242 /mo

Next >

NMLS #2561451

5.845%

30-Year Fixed

5.750%

$4,134

Includes 0.846 points for $3,384

Lender Fees: $750

$2,335 /mo

Next >

NMLS #1835285

5.851%

30-Year Fixed

5.750%

$4,427

Includes 0.982 points for $3,928

Lender Fees: $499

$2,335 /mo

Next >

NMLS #2473786

5.860%

30-Year Fixed

5.750%

$4,803

Includes 0.927 points for $3,708

Lender Fees: $1,095

$2,335 /mo

Next >

NMLS #1067

5.938%

30-Year Fixed

5.875%

$2,716

Includes 0.679 points for $2,716

Lender Fees: $0

$2,367 /mo

Next >

NMLS #1312186

5.955%

5-Year ARM

5.875%

$3,480

Includes 0.870 points for $3,480

Lender Fees: $0

$2,367 /mo

Next >

NMLS #757416

5.957%

30-Year Fixed

5.875%

$3,556

Includes 0.889 points for $3,556

Lender Fees: $0

$2,367 /mo

Next >

NMLS #1312186

6.081%

30-Year Fixed

6.000%

$3,500

Includes 0.875 points for $3,500

Lender Fees: $0

$2,399 /mo

Next >

NMLS #613839

6.086%

30-Year Fixed

5.990%

$4,143

Includes 0.564 points for $2,256

Lender Fees: $1,887

$2,396 /mo

Next >

NMLS #2433973

6.101%

30-Year Fixed

6.000%

$4,465

Includes 0.625 points for $2,500

Lender Fees: $1,965

$2,399 /mo

Next >

NMLS #399799

6.101%

30-Year Fixed

6.000%

$4,488

Includes 0.790 points for $3,160

Lender Fees: $1,328

$2,399 /mo

Next >

NMLS #1954591

License: 60DBO-113383

6.104%

5-Year ARM

5.990%

$4,959

Includes 0.963 points for $3,852

Lender Fees: $1,107

$2,396 /mo

Next >

NMLS #1954591

License: 60DBO-113383

6.106%

30-Year Fixed

5.990%

$5,031

Includes 0.981 points for $3,924

Lender Fees: $1,107

$2,396 /mo

Next >

NMLS #1025894

6.198%

30-Year Fixed

6.125%

$3,120

Includes 0.605 points for $2,420

Lender Fees: $700

$2,431 /mo

Next >

NMLS #6606

6.328%

30-Year Fixed

6.240%

$3,732

Includes 0.933 points for $3,732

Lender Fees: $0

$2,461 /mo

Next >

NMLS #2433973

6.376%

5-Year ARM

6.250%

$5,465

Includes 0.875 points for $3,500

Lender Fees: $1,965

$2,463 /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.

Current Mortgage Rates

Current 30 year mortgage rates are down to 4.72 percent, down from last week's average mortgage rate of 4.76 percent. This is the lowest point this year for 30 year mortgage rates. Current 15 year mortgage rates were also lower this week. 15 year mortgage rates are currently averaging 4.14 percent, down from last week's average 15 year mortgage rate of 4.25 percent.

Today's Jumbo Mortgage Rates

Today's 30 year jumbo mortgage rates are averaging 5.33 percent, a decline from last week's average jumbo loan rate of 5.40 percent.  30 year jumbo refinance rates today are also averaging 5.33 percent.

Today's 15 year jumbo loan rates are averaging 4.75 percent, down from the prior week's average jumbo mortgage rate of 4.85 percent last week. Current 15 year jumbo refinance mortgage rates are also lower this week over last. The current 15 year jumbo refinance rate is averaging 4.75 percent.

Adjustable Mortgage Rates - Conforming

1 year adjustable mortgage rates are averaging 3.56 percent, down from last week’s average 1 year adjustable interest mortgage rate of 3.71 percent. 1 year adjustable refinance mortgage rates today are currently averaging 3.56, a decline from last week’s average refinance rate of 3.71 percent.

3 year adjustable mortgage rates are closing in on 4.00 percent. The current average 3 year adjustable mortgage rats is averaging 4.09 percent, down from last week’s average mortgage rate of 4.36 percent. Current 3 year mortgage refinance rates are also lower this week, averaging 4.09 percent.

Currently, 5 year adjustable mortgage loan rates are averaging 3.54 percent, down from the prior week’s average home loan rate of 3.67 percent. Current 5 year refinance home mortgage rates are averaging 3.54 percent this week.

7 year adjustable mortgage rates are averaging 3.88 percent this week, a decline from last week’s average 7 year mortgage loan rate of 4.13 percent. Current 7 year mortgage refinance rates today are averaging 3.88 percent.

Today's 10 year adjustable bank mortgage rates are averaging 4.33 percent this week, down from last week’s average 10 year adjustable mortgage rate of 4.46 percent. 10 year home loan mortgage refinance rates are also lower, averaging 4.33 percent.

Current Jumbo Adjustable Mortgage Rates

1 year jumbo adjustable mortgage loan rates are averaging 5.95 percent, no change from last week’s average 1 year adjustable jumbo interest mortgage rate. Today's 1 year jumbo refinance mortgage rates are also averaging 5.95 percent.

3 year jumbo adjustable mortgage rates today are averaging 4.64 percent, down from the previous week’s average jumbo bank mortgage rate of 4.74 percent. Current 3 year jumbo refinance mortgage rates are also lower, averaging 4.74 percent.

5 year jumbo adjustable interest mortgage rates are averaging 4.04 percent this week, down from last week’s average mortgage rate of 4.16 percent. 5 year jumbo refinance rates are averaging 4.04 percent.

7 year jumbo adjustable mortgage rates are averaging 4.78 percent, a decline from last week’s average 7 year home loan mortgage rate of 4.86 percent. 7 year jumbo refinance rates today are also down to 4.78 percent.

Today's 10 year home jumbo mortgage rates are averaging 5.49 percent, down from last week's average 10 year jumbo home mortgage rate of 5.60 percent. 10 year jumbo home loan refinance rates are also averaging 5.49 percent today.

Interest Only Conforming Mortgage Rates Today

3 year interest only home mortgage rates are averaging 4.26 percent, a big decrease from last week’s average interest only mortgage loan rate of 4.54 percent.

Today's 5 year interest only mortgage rates today are averaging 3.71 percent, down from last week’s average five year interest only mortgage loan rate of 3.86 percent.

Current 7 year interest only home mortgage rates today are averaging 4.02 percent, down from an average mortgage rate of 4.30 percent last week.

Jumbo Interest Only Mortgage Rates Today

3 year jumbo interest only loan mortgage rates are averaging 5.60 percent this week, unchanged from last week's average jumbo interest only mortgage rate.

Current 5 year jumbo interest only home loan rates are averaging 4.63 percent, down from an average IO home mortgage rate of 4.81 percent.

7 year jumbo IO mortgage rates are averaging 5.07 percent, down from an average jumbo 7 year home mortgage rate of 5.18 percent last week.

Home Equity Loan Rates

10 year home equity loan rates are averaging 7.139 percent, unchanged from last week’s average home equity loan interest rate.

15 year home equity rates are averaging 7.446 percent this week, unchanged from last week’s average home equity loan rate.

Home Equity Line of Credit Rates

The average home equity line of credit rate (HELOC) is averaging 4.777 percent this week, no change from last week’s average HELOC rate.