Mortgage Rates Today January 14, 2020

Mortgage rates today on both conforming and jumbo mortgage loans are lower compared to last week's average rates. Mortgage rates tumbled over the summer of 2019, following the sharp decline in U.S. Treasury yields. Since that time, mortgage rates have been range-bound after hitting a low in September 2019. In the fall of 2019, mortgage rates were just above all-time lows hit in 2013. In fact, rates were poised to make new lows but rates slowly crept higher.

Last fall, average 30-year mortgage rates hit a low of 3.49 percent, only 14 basis points from 2013's all-time low of 3.35 percent. Current mortgage rates on 30-year conforming loans are averaging 3.80 percent, down from the prior week's average rate of 3.83 percent. As you can see, average 30-year rates are only 45 BPS from the all-time record low of 3.35 percent.

Today's mortgage rates on 15-year conventional loans are averaging 3.25 percent, a decline from the previous week's average 15-year rate of 3.27 percent. The all-time low for average 15-year mortgage rates was 2.56 percent back in the spring of 2013, only 74 BPS lower than current rates.

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 #401822

5.642%

15-Year Fixed

5.375%

$7,000

Includes 0.750 points for $3,000

Lender Fees: $4,000

$3,242 /mo

Next >

NMLS #1025894

5.667%

15-Year Fixed

5.490%

$4,612

Includes 0.978 points for $3,912

Lender Fees: $700

$3,267 /mo

Next >

NMLS #2059741

5.751%

15-Year Fixed

5.625%

$3,272

Includes 0.818 points for $3,272

Lender Fees: $0

$3,295 /mo

Next >

NMLS #6606

5.890%

15-Year Fixed

5.740%

$3,876

Includes 0.969 points for $3,876

Lender Fees: $0

$3,320 /mo

Next >

NMLS #2059741

6.583%

30-Year Fixed

6.490%

$3,896

Includes 0.974 points for $3,896

Lender Fees: $0

$2,526 /mo

Next >

NMLS #1025894

6.713%

30-Year Fixed

6.625%

$3,656

Includes 0.739 points for $2,956

Lender Fees: $700

$2,562 /mo

Next >

NMLS #401822

6.770%

30-Year Fixed

6.625%

$5,995

Includes 1.000 points for $4,000

Lender Fees: $1,995

$2,562 /mo

Next >

NMLS #6606

6.834%

30-Year Fixed

6.740%

$3,888

Includes 0.972 points for $3,888

Lender Fees: $0

$2,592 /mo

Next >

NMLS #3030

6.909%

15-Year Fixed

6.750%

$4,000

Includes 1.000 points for $4,000

Lender Fees: $0

$3,540 /mo

Next >

NMLS #3030

7.602%

30-Year Fixed

7.500%

$4,000

Includes 1.000 points for $4,000

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.

Mortgage rates will continue to be range-bound for most of 2020. We don't expect rates to move much higher than current levels. It is more likely that rates will move lower, especially if economic growth slows or if there is a recession in 2020. If there is a slow down or a recession, we will most likely see mortgage rates hit new all-time lows in 2020.

Average Mortgage Rates Today

Conforming Mortgage Rates

• Today's mortgage rates on 30-year loans are averaging 3.80 percent, a decline from an average 30-year rate of 3.83 percent.
• Current mortgage rates on 15-year fixed-rate home loans are averaging 3.25 percent, down from an average 15-year rate of 3.27 percent.
• Mortgage rates today on 5-year adjustable home loans are averaging 3.43 percent, a slight increase from last week's average 5-year adjustable rate of 3.41 percent.

Jumbo Mortgage Rates

• 30-year jumbo mortgage rates are averaging 3.99 percent, down from an average 30-year jumbo rate of 4.01 percent.
• 15-year jumbo mortgage rates today are averaging 3.49 percent, down from the prior week's average 15-year jumbo rate of 3.52 percent.
• Current mortgage rates on 5-year jumbo loans are averaging 3.19 percent, unchanged from the previous week's average 5-year jumbo adjustable rate.

Search for and compare mortgage rates online at MonitorBankRates.com.