Mortgage Rates End 2014 Low, Will Move Higher by the End of 2015

Average mortgage rates start near the lows of 2014 but will increase throughout 2015. 30 year mortgage rates today remain under 4.00 percent at 3.98 percent. Mortgage rates continue to remain low because 10 year bond yields also remain low, defying expectations of an increase in rates.

10 year bond yields closed at 2.12 percent on Friday, almost 100 basis points lower than the forecast for the beginning of 2015. Mortgage rates and 10 year bond yields are expected to increase about 1.00 percent by the end of this year. 10 year bond yields will approach 3.00 percent, 30 year mortgage rates will head towards 5.00 percent and 15 year rates will move towards 4.00 percent.

15 year mortgage rates today are averaging 3.07 percent, an increase of 3 basis points from last week's average 15 year rate. 15 year rates may fall below 3.00 percent before rates move higher. Any increases in rates won't come in the first few months of 2015 and will more likely increase as the year progresses.

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

4.723%

15-Year Fixed

4.500%

$6,000

Includes 1.000 points for $4,000

Lender Fees: $2,000

$3,060 /mo

Next >

NMLS #1928741

4.870%

15-Year Fixed

4.750%

$3,188

Includes 0.797 points for $3,188

Lender Fees: $0

$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 #6606

5.150%

15-Year Fixed

5.000%

$3,972

Includes 0.993 points for $3,972

Lender Fees: $0

$3,164 /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 #1025894

5.273%

15-Year Fixed

5.125%

$3,888

Includes 0.797 points for $3,188

Lender Fees: $700

$3,190 /mo

Next >

NMLS #1835285

5.365%

5-Year ARM

5.250%

$5,148

Includes 0.787 points for $3,148

Lender Fees: $2,000

$2,209 /mo

Next >

NMLS #1835285

5.509%

30-Year Fixed

5.375%

$6,000

Includes 1.000 points for $4,000

Lender Fees: $2,000

$2,240 /mo

Next >

NMLS #1928741

5.572%

30-Year Fixed

5.490%

$3,652

Includes 0.913 points for $3,652

Lender Fees: $0

$2,269 /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 #2561451

5.737%

30-Year Fixed

5.625%

$5,078

Includes 0.824 points for $3,296

Lender Fees: $1,782

$2,303 /mo

Next >

NMLS #6606

5.966%

30-Year Fixed

5.875%

$3,924

Includes 0.981 points for $3,924

Lender Fees: $0

$2,367 /mo

Next >

NMLS #1025894

5.970%

30-Year Fixed

5.875%

$4,132

Includes 0.858 points for $3,432

Lender Fees: $700

$2,367 /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.

Today's mortgage rates on 30 year jumbo loans are slightly higher, averaging 4.25 percent, up from the previous week's average 30 year jumbo rate of 4.23 percent. While average jumbo rates on 30 year loans are above 4.00 percent there are still many lenders quoting 30 year jumbo refinance rates below 4.00 percent. The best 30 year jumbo refi rate on our rate list for Connecticut are at 3.625 percent with 1.50 mortgage points.

15 year jumbo rates jumped much higher this week and are now above 4.00 percent. The current average 15 year jumbo rate is at 4.04 percent, up 14 basis points from the prior week's average rate. The best 15 year jumbo refi rate in California is almost 100 basis points below the average rate. Citi is currently offering 15 year jumbo rates at 3.125 percent with 0.88 points.

Average adjustable mortgage rates on both conforming and jumbo loans decreased this week. Conforming 5 year adjustable rates are averaging 3.08 percent, down from the previous week's average 5 year adjustable rate of 3.09 percent. Average 5/1 jumbo adjustable rates are at 3.51 percent, down 2 basis points from last week's average jumbo rate of 3.53 percent.

The lowest 5 year conforming refinance rate available on our list for Florida is at 2.40 percent with 1 mortgage point from Third Federal Savings and Loan. The lowest 5 year jumbo rate in Massachusetts is also from Third Federal at 2.625 percent with no mortgage points.