Mortgage Rates Fall Again This Week – Best 30 Year Rate at 3.375%

Mortgage rates are lower again this week, continuing to defy the experts who called for higher rates in 2015. Average 30 year mortgage rates fell to 3.79 percent, down one basis point from last week's average rate. While average 30 year rates are at 3.79 percent, there are many lenders quoting rates well below the average.

The lowest 30 year refinance rate in our database this week is at 3.375 percent. Depending on the state you live in, lenders are quoting a rate of 3.375 percent with 1.10 points or 2 points. The lowest 30 year refinance rate without points is also below the average at 3.625 percent.

Lenders offer loans with points to borrowers so they can get a lower rate. The more points you pay, the lower the mortgage rate is. Most lenders offer a maximum of 2 points on a loan. A point is equal to one percent of the loan. For example, one point on a $300,000 loan will require the borrower to pay an additional $3,000 upfront to receive a lower rate.

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

5.389%

15-Year Fixed

5.250%

$3,650

Includes 0.650 points for $2,600

Lender Fees: $1,050

$3,216 /mo

Next >

NMLS #2059741

5.510%

15-Year Fixed

5.375%

$3,520

Includes 0.880 points for $3,520

Lender Fees: $0

$3,242 /mo

Next >

NMLS #1025894

5.632%

15-Year Fixed

5.490%

$3,688

Includes 0.747 points for $2,988

Lender Fees: $700

$3,267 /mo

Next >

NMLS #6606

5.767%

15-Year Fixed

5.625%

$3,696

Includes 0.924 points for $3,696

Lender Fees: $0

$3,295 /mo

Next >

NMLS #2578474

6.360%

30-Year Fixed

6.250%

$4,650

Includes 0.900 points for $3,600

Lender Fees: $1,050

$2,463 /mo

Next >

NMLS #2059741

6.548%

30-Year Fixed

6.490%

$2,412

Includes 0.603 points for $2,412

Lender Fees: $0

$2,526 /mo

Next >

NMLS #1025894

6.597%

30-Year Fixed

6.490%

$4,460

Includes 0.940 points for $3,760

Lender Fees: $700

$2,526 /mo

Next >

NMLS #401822

6.758%

30-Year Fixed

6.625%

$5,495

Includes 0.875 points for $3,500

Lender Fees: $1,995

$2,562 /mo

Next >

NMLS #6606

6.823%

30-Year Fixed

6.740%

$3,392

Includes 0.848 points for $3,392

Lender Fees: $0

$2,592 /mo

Next >

NMLS #401822

7.764%

15-Year Fixed

7.500%

$6,500

Includes 0.625 points for $2,500

Lender Fees: $4,000

$3,709 /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.

Average 15 year conforming mortgage rates are at 2.85 percent this week, down one basis point from last week's average 15 year rate. Checking our database of 15 year rates, the lowest rate available this week is at 2.50 percent with points and at 2.75 percent with no points.

Instead of moving higher, mortgage rates are headed back down to the all-time lows set in early 2013. In the spring of 2013, the lowest 15 year rates available in our database were are at 2.25 percent, only 0.25 percent lower than the best rates available right now.

Jumbo mortgage rates also declined this week. Average 30 year jumbo mortgage rates are at 4.16 percent, down from the prior week's average rate of 4.35 percent. The best 30 year jumbo rates available in our database this week are at 3.375 percent with 1.10 points. The lowest 30 year jumbo rate without points is at 3.625 percent.

Mortgage rates today on 15 year jumbo loans are averaging 3.87 percent, a decline from the prior week's average rate of 3.96 percent. The best 15 year jumbo rates currently available are at 3.00 percent with no points.

Fixed long term mortgage rates are lower this week but short term adjustable rates moved higher. Average 5 year conforming adjustable rates are at 3.18 percent, an increase from last week's average of 3.15 percent. The lowest 5 year adjustable in the database is at 2.491 percent with no points.

Current mortgage rates on 5 year jumbo loans are averaging 3.42 percent, up from the previous week's average rate of 3.36 percent. The lowest 5 year jumbo rate in the database is at 2.55 percent with no mortgage points.

Check on current rates in your state by searching our database at MonitorBankRates.com/Mortgages