Mortgage Rates Today, HARP Loans and the Greek VoteAfter making several consecutive weeks of all-time lows mortgage rates have paused their decent and have remained in a tight range the past several days. Mortgage rates today on 30 year conforming loans are averaging 3.64 percent and 15 year conforming mortgage rates are still under 3.00 percent averaging 2.99 percent. The direction mortgage rates and bond yields took this week was dependent on the Greek vote to decide on a new government. Pro-bailout parties won a majority of seats to form a new government easing fears that the Euro-zone would unravel. If the anti-bailout parties won, markets would have tumbled sending investors fleeing into dollars and U.S Treasuries. As Treasury prices rise, Treasury yields fall. Mortgage rates are tied to bond yields current mortgage rates would have declined to new lows this week. Lender
APR / Rate
Fees / Points
Payment
$5,412
Includes 0.853 points for $3,412
Lender Fees: $2,000
$3,216 /mo
$5,389
Includes 0.859 points for $3,436
Lender Fees: $1,953
$3,269 /mo
$5,501
Includes 0.889 points for $3,556
Lender Fees: $1,945
$3,269 /mo
$4,692
Includes 0.998 points for $3,992
Lender Fees: $700
$3,295 /mo
$3,112
Includes 0.778 points for $3,112
Lender Fees: $0
$3,322 /mo
$3,780
Includes 0.945 points for $3,780
Lender Fees: $0
$3,322 /mo
$8,000
Includes 1.000 points for $4,000
Lender Fees: $4,000
$3,295 /mo
$4,504
Includes 0.626 points for $2,504
Lender Fees: $2,000
$2,463 /mo
$4,945
Includes 0.750 points for $3,000
Lender Fees: $1,945
$2,529 /mo
$2,384
Includes 0.596 points for $2,384
Lender Fees: $0
$2,562 /mo
$3,548
Includes 0.887 points for $3,548
Lender Fees: $0
$2,561 /mo
$3,984
Includes 0.821 points for $3,284
Lender Fees: $700
$2,562 /mo
$4,853
Includes 0.725 points for $2,900
Lender Fees: $1,953
$2,562 /mo
$5,976
Includes 0.994 points for $3,976
Lender Fees: $2,000
$2,562 /mo
$5,495
Includes 0.875 points for $3,500
Lender Fees: $1,995
$2,628 /mo
$3,500
Includes 0.875 points for $3,500
Lender Fees: $0
$3,594 /mo
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.
Since the former happened bond yields are stable, no big swings in yields. Current 10 year bond yields are unchanged at 1.58 percent. Today's mortgage rates on conforming 30 year rates at 3.64 percent are slightly lower from Friday's average of 3.67 percent. 15 year mortgage interest rates averaging 2.99 percent are also down from Friday's average rate of 3.02 percent. Also in the news today is a report showing two large banks and benefiting from the government's Home Affordable Refinance Program (HARP) program to help homeowners who want to take advantage of low refinance rates but can't since they are underwater on the home loan. These homeowners can't refinance since they owe more than their home is worth.With today's refinance rates under 3.75 percent on 30 year loans millions more would refinance if they were able to. The two national banks are estimated to get as much as $12 billion in revenue refinancing loans under the HARP program according to Nomura Holdings Inc. Nomura also estimates homeowners will save between $2.5 billion to $5 billion this year by refinancing under HARP. These homeowners who can't refinance otherwise if it wasn't for the HARP program are refinancing with their current lender at refinance rates above market rates. In fact 75 percent of refinances done under the program are done with existing lenders. Large lenders pretty much have a monopoly since these homeowners have no where else to to. You would think after the financial crisis, TARP and the outcry for more government financial regulation the banks wouldn't want any more negative publicity but I guess greed got in their way. Explore Other Mortgage and Refinance Offers
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