Average mortgage rates are slightly higher this week over last but you can still find lenders quoting rates as low as 3.75 percent with points. Average rates increased this past week because of higher 10 year bond yields, which rose from 2.48 percent to 2.62 percent at yesterday's close.
View a List of Mortgage Rates Here: Mortgage Rates
Going forward, mortgage rates will remain near current levels since the Federal Reserve isn't planning on tapering their long term bond and mortgage-backed securities (MBS) purchases. Over the summer, bond yields and mortgage rates soared over 1 percent on fears the Federal Reserve would start tapering their purchases, which didn't come to pass.
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.
4.849%
15-Year Fixed
4.625%
$6,000
Includes 1.000 points for $4,000
Lender Fees: $2,000
5.397%
15-Year Fixed
5.250%
$3,852
Includes 0.963 points for $3,852
Lender Fees: $0
5.503%
15-Year Fixed
5.375%
$3,348
Includes 0.662 points for $2,648
Lender Fees: $700
$5,972
Includes 0.993 points for $3,972
Lender Fees: $2,000
5.761%
30-Year Fixed
5.625%
$6,000
Includes 1.000 points for $4,000
Lender Fees: $2,000
6.200%
30-Year Fixed
6.125%
$3,196
Includes 0.624 points for $2,496
Lender Fees: $700
6.341%
30-Year Fixed
6.250%
$3,860
Includes 0.965 points for $3,860
Lender Fees: $0
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.
Now it looks like the Fed will continue their purchases into 2014 and might not start slowing their buying until the second quarter of 2014. This will keep a lid on rising mortgage rates and rates will probably fall from current levels.
30 Year Conforming Mortgage Rates Today
Average 30 year mortgage rates today are at 4.22 percent, an increase from last week's average 30 year mortgage rate of 4.15 percent. Before the end of 2013, average 30 year mortgage rates will fall below 4.00 percent on average but right now there are many lenders quoting 30 year rates below 4.00 percent.
The best 30 year conforming refinance rates with points on our rate tables are quoted at 3.75 percent with points. Right now we have 3 lenders quoting 30 year rates at 3.75 percent with different point combinations ranging from 2 points to 0.981 points. We also have half a dozen lenders quoting 30 year rates at 3.875 percent with points and 2 lenders also quoting rates at 3.875 percent but with zero points.
Current Mortgage Rates on 15 Year Conventional Loans
15 year conventional mortgage rates are also slightly higher this week over last. The current average 15 year rate is at 3.28 percent, up from the prior week's average 15 year rate of 3.21 percent. For the rest of 2013, average 15 year mortgage rates will remain flat and more than likely fall back under 3.00 percent.
The best refinance rates today on 15 year conforming loans in our rate database are below 3.00 percent. The lowest 15 year refinancing rates are at 2.75 percent with points. There are 6 different lenders currently offering 15 year rates at 2.75 percent with points. We also have 4 lenders quoting rates at 2.875 percent with points and the lowest rate without points is at 2.99 percent.
Today's Mortgage Rates on 30 Year Jumbo Loans
Average 30 year jumbo mortgage rates are also higher today, averaging 4.40 percent. The average rate is up from last week's average jumbo rate of 4.33 percent. For the rest of 2013, average 30 year jumbo rates will remain near current levels and probably won't fall below 4.00 percent again.
While average rates are above 4.00 percent, we have 2 lenders quoting 30 year jumbo refinance rates exactly at 4.00 percent with points. One lender is quoting 30 year jumbo refi rates at 4.00 percent with 2 points while the other lender is quoting rates at 4.00 percent with 1.544 points. The best jumbo rate without points is still below the average at 4.125 percent.
15 Year Jumbo Mortgage Rates
15 year jumbo mortgage rates are averaging 3.75 percent, an increase from last week's average 15 year jumbo mortgage rate of 3.69 percent. 15 year jumbo rates will also remain range bound near current levels, on the low side 15 year rates will probably be above 3.50 percent and on the high side below 4.00 percent.
The best 15 year jumbo rates on our rate table are well below the average rate of 3.75 percent. The best rate currently is at 3.00 percent with 1.25 points from Pentagon Federal Credit Union (PenFed). We also have many other lenders quoting 15 year rates at either 3.25 percent with points or at 3.375 percent with points. The lowest 15 year rate without points is at 3.50 percent which is still below the average rate.
5 year Conventional Adjustable Mortgage Rates
Average 5 year conventional adjustable mortgage rates are at 3.35 percent this week, an increase from the previous week's average 5 year adjustable mortgage rate of 3.30 percent. For the remainder of 2013, conforming 5 year adjustable rates will be around current levels.
Right now the lowest 5 year adjustable mortgage rates on our rate table are more than 100 basis points, or 1.oo percent, below the average rate. Currently, we have 2 lenders quoting 5 year adjustable refinance rates at 2.25 percent with points, one with 1.25 points and the other with 1.90 points.
Jumbo Adjustable Mortgage Rates on 5 Year Loans
On average 5 year jumbo adjustable rates are still lower than 5 year conforming rates, which has been the case for several months now. Average 5 year jumbo rates are at 2.84 percent this week, up slightly from last week's average 5 year jumbo rate of 2.83 percent. For the next two months, 5 year jumbo rates will remain in a range of 2.65 percent and 3.00 percent.
Right now the best jumbo rates on 5 year adjustable loans in our database are also at 2.25 percent with points. We also have several lenders quoting 5 year jumbo refi rates at 2.375 percent with points and the lowest 5 year rate without points is at 2.49 percent.
