Mortgage Rates Remain Low This Week – 30 Year Rates Averaging 3.76%

Mortgage rates remain low this week and are slightly above record lows set in 2013. Current mortgage rates on 30 year conforming loans are averaging 3.76 percent, up 1 basis point from last week's rate. Mortgage rates were forecast to increase in 2015 but just the opposite has happened so far this year.

On January 5, 2015, 30 year rates averaged 3.98, 22 basis points higher from the current level. Forecasts were for 30 year rates to hit 5.00 by the end of 2015. Heading into mid April, the forecast for 5.00 percent rates by the end of the year is looking less and less likely.

Mortgage rates will be increasing this year even if rates don't hit 5.00 percent. If you're thinking about buying a home, or refinancing your current loan, do so sooner than later. Home prices are also forecast to increase in the coming years, another incentive to act sooner.

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

5.440%

15-Year Fixed

5.250%

$5,000

Includes 0.750 points for $3,000

Lender Fees: $2,000

$3,216 /mo

Next >

NMLS #2059741

5.606%

15-Year Fixed

5.490%

$3,032

Includes 0.758 points for $3,032

Lender Fees: $0

$3,267 /mo

Next >

NMLS #1025894

5.650%

15-Year Fixed

5.490%

$4,172

Includes 0.868 points for $3,472

Lender Fees: $700

$3,267 /mo

Next >

NMLS #6606

5.773%

15-Year Fixed

5.625%

$3,848

Includes 0.962 points for $3,848

Lender Fees: $0

$3,295 /mo

Next >

NMLS #1835285

6.262%

5-Year ARM

6.125%

$5,860

Includes 0.965 points for $3,860

Lender Fees: $2,000

$2,431 /mo

Next >

NMLS #1835285

6.356%

30-Year Fixed

6.250%

$4,500

Includes 0.625 points for $2,500

Lender Fees: $2,000

$2,463 /mo

Next >

NMLS #2059741

6.569%

30-Year Fixed

6.490%

$3,292

Includes 0.823 points for $3,292

Lender Fees: $0

$2,526 /mo

Next >

NMLS #1025894

6.600%

30-Year Fixed

6.490%

$4,592

Includes 0.973 points for $3,892

Lender Fees: $700

$2,526 /mo

Next >

NMLS #6606

6.714%

30-Year Fixed

6.625%

$3,684

Includes 0.921 points for $3,684

Lender Fees: $0

$2,562 /mo

Next >

NMLS #401822

6.734%

30-Year Fixed

6.625%

$4,495

Includes 0.625 points for $2,500

Lender Fees: $1,995

$2,562 /mo

Next >

NMLS #401822

7.698%

15-Year Fixed

7.375%

$8,000

Includes 1.000 points for $4,000

Lender Fees: $4,000

$3,680 /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.

The Urban Land Institute has forecast single-family home prices will increase each year for the next three years. The average price for existing homes in the U.S. is expected to rise by 5.0 percent in 2015, 4.0 percent in 2016 and 4.0 percent in 2017.

As mortgage rates and home prices move higher, that dream home you want might be not be affordable anymore. You can afford less home as prices and mortgage rates increase, another incentive to buy now. A report recently released showed buying is cheaper than renting in most housing markets in the United States.

RealtyTrac found the monthly payment on a median priced home is more affordable than the monthly fair market rent on a three-bedroom property in 76 percent of the U.S. counties. You can read the entire report on RealtyTrac's website: Residential Rental Property Analysis

15 year conforming mortgage rates are averaging 2.98 percent, up from last week's average rate of 2.96 percent. The average rate is always higher than the best rates available. Right now on our rate table for California, there are lenders quoting 15 year refinance rates as low as 2.874 percent with no mortgage points.

Today's mortgage rates on 30 year jumbo loans are averaging 3.96 percent, up from the previous week's average jumbo rate of 3.94 percent. The best 30 year jumbo refinance rates available in our rate database for Maryland are lower at 3.625 percent with 0.75 points.

Mortgage rates today on 15 year jumbo loans are averaging 3.54 percent, an increase from last week's average rate of 3.52 percent. The best 15 year jumbo rates available on our database for Massachusetts are much lower at 2.99 percent with zero points.

5 year adjustable mortgage rates on conforming loans are averaging 3.08 percent, up 0.05 percent from last week's average rate. The lowest 5 year adjustable refinance rates in the rate database for New Jersey are much lower at 2.375 percent with 1.50 points.

5 year jumbo adjustable rates are currently averaging 3.12 percent, a decline from last week's average jumbo rate of 3.18 percent. The best 5 year jumbo refinance rates available in the rate database for Washington D.C. are at 2.625 percent with no mortgage points.