Mortgage Rates Hit New Lows: Best 15 Year Mortgage Rates at 2.25% Today

Fixed conventional mortgage rates hit new record lows in Freddie Mac's Primary Mortgage Market Survey for the week ending November 15, 2012. Average mortgage rates decline this week on the heels of higher consumer confidence and lower wholesale prices. 30 year and 15 year mortgage interest rates hit record lows back in October 2012 and have broken through those lows today.

Current mortgage rates on 30 year fixed conforming loans averaged 3.34 percent with 0.7 mortgage discount points, down from the prior week's average 30 year mortgage rate of 3.40 percent. Prior to today's, the all-time record low for 30 year rates back on October 4, was 3.36 percent.

Average 30 year rates will fall even further before the end of 2012. I believe rates will fall as low as 3.15 percent since the Fed is continuing to purchase $85 billion a month in mortgage-backed securities and will continue to purchase that amount every month into 2013. In fact we might see average 30 year rates fall even further in 2013 and probably below 3.00 percent.

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 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 #1981224

4.924%

15-Year Fixed

4.625%

$8,000

Includes 1.000 points for $4,000

Lender Fees: $4,000

$3,086 /mo

Next >

NMLS #1283930

License: 01970483

5.445%

15-Year Fixed

5.250%

$5,125

Includes 1.000 points for $4,000

Lender Fees: $1,125

$3,216 /mo

Next >

NMLS #1838

5.455%

15-Year Fixed

5.250%

$5,395

Includes 0.974 points for $3,896

Lender Fees: $1,499

$3,216 /mo

Next >

NMLS #1025894

5.548%

15-Year Fixed

5.375%

$4,512

Includes 0.953 points for $3,812

Lender Fees: $700

$3,242 /mo

Next >

NMLS #1981224

5.921%

30-Year Fixed

5.750%

$7,500

Includes 0.875 points for $3,500

Lender Fees: $4,000

$2,335 /mo

Next >

NMLS #401822

6.039%

15-Year Fixed

5.750%

$7,500

Includes 0.875 points for $3,500

Lender Fees: $4,000

$3,322 /mo

Next >

NMLS #3030

6.146%

15-Year Fixed

5.990%

$4,000

Includes 1.000 points for $4,000

Lender Fees: $0

$3,374 /mo

Next >

NMLS #1838

6.231%

30-Year Fixed

6.125%

$4,535

Includes 0.759 points for $3,036

Lender Fees: $1,499

$2,431 /mo

Next >

NMLS #401822

6.289%

30-Year Fixed

6.125%

$7,000

Includes 0.750 points for $3,000

Lender Fees: $4,000

$2,431 /mo

Next >

NMLS #1283930

License: 01970483

6.347%

30-Year Fixed

6.250%

$4,125

Includes 0.750 points for $3,000

Lender Fees: $1,125

$2,463 /mo

Next >

NMLS #1025894

6.477%

30-Year Fixed

6.375%

$4,284

Includes 0.896 points for $3,584

Lender Fees: $700

$2,496 /mo

Next >

NMLS #1981224

6.533%

5-Year ARM

6.375%

$6,740

Includes 0.915 points for $3,660

Lender Fees: $3,080

$2,496 /mo

Next >

NMLS #3030

6.949%

30-Year Fixed

6.875%

$3,000

Includes 0.750 points for $3,000

Lender Fees: $0

$2,628 /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.

Right now you can find lenders already offering 30 year mortgage refinance rates below the average of 3.34 percent and even below 3.00 percent if you're willing to pay points. Right now on our 30 year refinance rates list for Florida we have two lenders, Aimloan.com and Amerisave, both offering 30 year refi rates at 2.875 percent with points.

Florida isn't the only place you can find home loan lenders offering 30 year rates below 3.00 percent on our rate tables. Checking our rate lists in Georgia and Arizona we also have lenders offering rates at 2.875 percent with points. If you'd rather not pay points we have lenders in Florida, Georgia and Arizona offering rates around 3.25 percent without points.

In Freddie Mac's survey this week average conforming 15 year mortgage rates declined to 2.65 percent with 0.7 points, an all-time record low and down from the previous week's average 15 year rate of 2.69 percent. The prior all-time record low was 2.66 percent set the week of October 18.

Before the end of 2012 I believe average 15 year rates will fall below 2.50 percent and in 2013 average rates will probably move down to 2.40 percent or lower. There are lenders already offering 15 year mortgage rates today below the average of 2.65 percent and below my prediction for 2013.

Currently on our 15 year refinance mortgage rates list for the state of Texas we have Aimloan.com quoting 15 year rates at 2.25 percent with around 1 mortgage point, Amerisave quoting 15 year rates at 2.375 percent with points, Residential Finance Corporation also quoting rates at 2.375 percent with points and the lowest refinancing rate without points in Texas is from Texaslending.com at 2.375 percent.

Average adjustable mortgage rates were mixed in Freddie Mac's survey this week. 5 year adjustable mortgage interest rates averaged 2.74 percent with 0.6 points, a slight increase from last week's average 5 year adjustable rate of 2.73 percent. Average 1 year adjustable rates declined to 2.55 percent with 0.3 points, down from last week's average of 2.59 percent.