Mortgage Rates Will Decline Today on Lower Bond Yields

Already low mortgage rates today will probably move lower this coming week as investors make the classic flight to quality. Investors are concerned about the Greece's sovereign debt problems, the health of Spain's banks and a declining Euro. As a result many investors are fleeing the Euro, buying dollars and investing those dollars into U.S. Treasuries forcing bond yields lower.

Today's mortgage rates and refinance rates on 30 year home loans are averaging 3.80 percent. We could see 30 year mortgage rates decline as low as 3.70 percent this coming week on the problems in Europe and any negative economic news.

Current economic news to be released today include the S&P/Case-Shiller Home Price Indices for March and Consumer Confidence for May. The later will probably move bond yields more if the number comes in higher or lower than the expected number of 71.

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

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The lenders whose rates and other terms appear on this chart are MRC'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 #324599

License: 324599

5.045%

15-Year Fixed

4.875%

$4,570

Includes 0.875 points for $3,500

Lender Fees: $1,070

$3,138 /mo

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NMLS #1025894

5.188%

15-Year Fixed

4.990%

$5,248

Includes 0.812 points for $3,248

Lender Fees: $2,000

$3,162 /mo

Next >

NMLS #324599

License: 324599

5.853%

30-Year Fixed

5.750%

$4,570

Includes 0.875 points for $3,500

Lender Fees: $1,070

$2,335 /mo

Next >

NMLS #1025894

5.967%

30-Year Fixed

5.875%

$3,972

Includes 0.493 points for $1,972

Lender Fees: $2,000

$2,367 /mo

Next >

NMLS #324599

License: 324599

6.229%

5-Year ARM

6.125%

$4,506

Includes 0.859 points for $3,436

Lender Fees: $1,070

$2,431 /mo

Next >

Rate data provided by RateUpdate.com. Displayed by 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.

Current fixed conforming 15 year mortgage rates today are averaging 3.09 percent. We might see  average 15 year rates break 3.00 this week which will be an all-time record low rate. You actually can already find lenders offering 15 year rates less than 3.00 percent if you're willing to pay points upfront to buy down the mortgage rate.

Today's jumbo mortgage rates on 30 year loans are averaging 4.38 percent and 15 year jumbo mortgage rates currently are averaging 3.61 percent. This coming week 30 year jumbo mortgage interest rates could go as low as 4.30 percent and 15 year jumbo mortgage rates as low as 3.50 percent.

The rate spread between 30 year conforming and 30 year jumbo rates is at one of the narrowest points in history at 58 basis points. During the financial crisis the spread between 30 year conforming rates and jumbo rates was over 150 basis points.

Back then you were lucky if you could find a lender offering jumbo mortgages since lenders were unable to sell jumbo mortgages after they were made. The market for selling jumbo mortgages collapsed. Most lenders were only willing to make conforming loans they could sell to Freddie Mac or Fannie Mae.