Mortgage Rates Today Increase for the Third Consecutive Week

Mortgage rates today increased making this the third consecutive week that average 30 year mortgage rates are higher in the Primary Mortgage Market Survey released by Freddie Mac. Positive economic news pointing to stronger growth along with lower inflation sent Treasury yields higher which in turn sent current mortgage rates higher as well.

In the PMMS survey average 30 year mortgage rates increased to 3.62 percent with 0.6 mortgage points for the week ending August 16, 2012. The average 30 year mortgage rate is up from last week's average of 3.59 percent.

Right now on our 30 year conforming refinance rates list there are lenders offering 30 year refi rates as low as 3.25 percent with points. You can search for refinancing rates in the state you live in to find lenders offering rates below the averages.

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 #2641203

5.523%

15-Year Fixed

5.375%

$3,876

Includes 0.969 points for $3,876

Lender Fees: $0

$3,242 /mo

Next >

NMLS #401822

5.554%

15-Year Fixed

5.250%

$8,000

Includes 1.000 points for $4,000

Lender Fees: $4,000

$3,216 /mo

Next >

NMLS #1025894

5.667%

15-Year Fixed

5.490%

$4,600

Includes 0.975 points for $3,900

Lender Fees: $700

$3,267 /mo

Next >

NMLS #6606

5.904%

15-Year Fixed

5.750%

$3,976

Includes 0.994 points for $3,976

Lender Fees: $0

$3,322 /mo

Next >

NMLS #2641203

6.701%

30-Year Fixed

6.625%

$3,128

Includes 0.782 points for $3,128

Lender Fees: $0

$2,562 /mo

Next >

NMLS #1025894

6.720%

30-Year Fixed

6.625%

$3,916

Includes 0.804 points for $3,216

Lender Fees: $700

$2,562 /mo

Next >

NMLS #6606

6.844%

30-Year Fixed

6.750%

$3,880

Includes 0.970 points for $3,880

Lender Fees: $0

$2,595 /mo

Next >

NMLS #3030

6.869%

15-Year Fixed

6.750%

$3,000

Includes 0.750 points for $3,000

Lender Fees: $0

$3,540 /mo

Next >

NMLS #401822

6.884%

30-Year Fixed

6.750%

$5,495

Includes 0.875 points for $3,500

Lender Fees: $1,995

$2,595 /mo

Next >

NMLS #3030

7.589%

30-Year Fixed

7.500%

$3,500

Includes 0.875 points for $3,500

Lender Fees: $0

$2,797 /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.

Normally lower inflation data would send bond yields lower but not this time as investors see low inflation and stronger growth as a sign that the Fed will not start another round of quantitative easing. This is why bond yields moved up on the economic news that was released.

The 12-month growth in the core consumer price index fell for the second month to 2.1 percent in July. Industrial production rose 0.6 percent in July compared to a 0.1 percent increase in June and retail sales jumped 0.8 percent in July from a 0.7 percent decline in June.

These three positive reports have sent bond yields up to 1.82 percent today. In late July 10 year bond yields hit an all-time record low of 1.39 percent during the day. Now rates have increased more than 40 basis points in just three weeks.

Today's mortgage rates on fixed conforming 15 year loans are averaging 2.96 percent. In Freddie Mac's survey 15 year mortgage rates averaged 2.88 percent with 0.6 points, up from last week's average 15 year mortgage rate of 2.84 percent.

Currently on our 15 year refinance rates table in California there are lenders offering 15 year refinancing rates as low as 2.375 percent with points. Depending on the state you live in you'll find lenders offering different refi rates for the same types of loans.

Current mortgage rates on adjustable mortgage loans are mixed. The average 5 year adjustable mortgage rate is at 2.76 percent with 0.6 points, down from last week's survey that had the average 5 year adjustable mortgage rate at 2.77 percent.

Current refinance rates today on our rate tables are below the average rate. Right now there are lenders advertising 5 year adjustable refi rates as low as 1.88 percent. Search for refinance mortgage rates in your state to see rates as low as 1.88 percent.

Today's mortgage rates on 1 year adjustable mortgage loans are averaging 2.69 percent with 0.4 mortgage points, up from last week's average 1 year adjustable mortgage rate of 2.65 percent.