Today’s Mortgage Rates Increase: 30 Year Conforming Mortgage Rates Averaging 3.46 Percent

Average mortgage rates which hit record lows for several consecutive weeks in September are higher this week. Today's mortgage rates on 30 year conventional mortgage loans are averaging 3.46 percent, an increase from last week's average 30 year mortgage rate of 3.43 percent. Although average 30 year mortgage rates are up two weeks in a row average rates are just above an all-time record low of 3.36 percent.

The increase in mortgage interest rates is only temporary; the Federal Reserve is stilling buying $85 billion a month in mortgage-backed securities (MBS) to drive rates lower. Mortgage rates today on 30 year conforming loans are probably at a high right now and will fall through 3.25 percent sometime in the fourth quarter of 2012.

You can already find some lenders offering 30 year conforming mortgage refinance rates below 3.25 percent. Currently on our 30 year refinance rates today list for North Carolina, Amerisave is offering 30 year refinance rates at 3.125 percent with 1.564 mortgage points. If you rather not pay points on a loan we also have Seckel Capital offering 30 year refinancing rates in North Carolina at 3.25 percent with no points.

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 #1981224

4.924%

15-Year Fixed

4.625%

$8,000

Includes 1.000 points for $4,000

Lender Fees: $4,000

$3,086 /mo

Next >

NMLS #1283930

License: 01970483

5.445%

15-Year Fixed

5.250%

$5,125

Includes 1.000 points for $4,000

Lender Fees: $1,125

$3,216 /mo

Next >

NMLS #1838

5.455%

15-Year Fixed

5.250%

$5,395

Includes 0.974 points for $3,896

Lender Fees: $1,499

$3,216 /mo

Next >

NMLS #1025894

5.548%

15-Year Fixed

5.375%

$4,512

Includes 0.953 points for $3,812

Lender Fees: $700

$3,242 /mo

Next >

NMLS #1981224

5.921%

30-Year Fixed

5.750%

$7,500

Includes 0.875 points for $3,500

Lender Fees: $4,000

$2,335 /mo

Next >

NMLS #401822

6.039%

15-Year Fixed

5.750%

$7,500

Includes 0.875 points for $3,500

Lender Fees: $4,000

$3,322 /mo

Next >

NMLS #3030

6.146%

15-Year Fixed

5.990%

$4,000

Includes 1.000 points for $4,000

Lender Fees: $0

$3,374 /mo

Next >

NMLS #1838

6.231%

30-Year Fixed

6.125%

$4,535

Includes 0.759 points for $3,036

Lender Fees: $1,499

$2,431 /mo

Next >

NMLS #401822

6.289%

30-Year Fixed

6.125%

$7,000

Includes 0.750 points for $3,000

Lender Fees: $4,000

$2,431 /mo

Next >

NMLS #1283930

License: 01970483

6.347%

30-Year Fixed

6.250%

$4,125

Includes 0.750 points for $3,000

Lender Fees: $1,125

$2,463 /mo

Next >

NMLS #1025894

6.477%

30-Year Fixed

6.375%

$4,284

Includes 0.896 points for $3,584

Lender Fees: $700

$2,496 /mo

Next >

NMLS #1981224

6.533%

5-Year ARM

6.375%

$6,740

Includes 0.915 points for $3,660

Lender Fees: $3,080

$2,496 /mo

Next >

NMLS #3030

6.949%

30-Year Fixed

6.875%

$3,000

Includes 0.750 points for $3,000

Lender Fees: $0

$2,628 /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.

Record low current mortgage rates have finally helped the housing market in a recent housing report. Yesterday, the Commerce Department reported that builders broke ground on building new single-family houses and apartments at the fastest pace in over four years. Housing starts surged to an annual rate of 872,000 in September, which was well above estimates.

Refinance demand for mortgages has been strong for several years now as refinance rates made a series of record lows. Millions of homeowners who have a mortgage have refinanced more than once to take advantage of falling rates. In a recent report by Freddie Mac, in the second quarter of 2012, 95 percent of homeowners who refinanced their loan refinanced to a fixed rate mortgage and 30 percent of reduced the term of the mortgage.

With fixed mortgage rates at record lows it makes sense to lock in a long term rate and if you can afford higher monthly mortgage payments that accompany a shorter term loan, like a 15 year loan, it makes financial sense. Current mortgage rates today on 15 year mortgage loans are averaging 2.84 percent, up from last week's average 15 year mortgage rate of 2.83 percent.

You can already find lenders offering current refinance rates on 15 year mortgage loans below the average of 2.84 percent. Currently, on our refinance rates list for the state of Arizona we have lenders offering 15 year rates as low as 2.50 percent with points and as low as 2.75 percent without points.

30 year jumbo mortgage rates today are also slightly higher this week over last. Average 30 year jumbo mortgage rates are at 4.03 percent, an increase from the previous week's average 30 year jumbo mortgage rate of 4.01 percent. If you have a jumbo loan because you live in a higher priced housing market like in California you can find lenders on our California refinance rates list offering 30 year jumbo refinance rates below the average. Right now Citi Mortgage is offering 30 year jumbo refi rates as low as 3.50 percent 1.75 mortgage points.

Today's mortgage interest rates on 15 year jumbo loans are averaging 3.36 percent this week, unchanged from last week's average 15 year jumbo mortgage rate. Average 15 year jumbo mortgage rates might possibly break through 3.00 percent before the end of 2012. Right now you can find lenders offering 15 year jumbo refi rates as low as 3.00 percent on our rate lists.

Average conforming 5 year adjustable mortgage rates are at 2.99 percent this week, unchanged from last week's average 5 year adjustable mortgage rate. If you're comparing 5 year adjustable rates we have lenders in the state of Texas offering 5 year adjustable conventional refinance rates as low as 2.125 percent with points.

Average 5 year jumbo adjustable mortgage rates are up 1 basis point this week over last. Refinance rates today on 5 year jumbo loans are averaging 2.82 percent, an increase from last week's average 5 year jumbo refinance rate of 2.81 percent. Current on our 5 year jumbo refinancing rates list for the state of New Jersey we have lenders listed offering rates as low as 2.375 percent with 1 mortgage point.