Today’s Mortgage Rates Increase as 10 Year Bond Rates Top 3.00 Percent

Average mortgage rates are higher today as 10 year bond rates closed above 3.00 percent on Friday. Today's mortgage rates on 30 year conforming loans are averaging 4.56 percent, an increase from the prior week's average 30 year rate of 4.48 percent. Mortgage rates have slowly drifted higher all December long and will continue to move higher in 2014.

Current mortgage rates are moving higher next year because the Federal Open Market Committee (FOMC) finally announced they would start tapering their purchases of long term bonds and mortgage-backed securities (MBS). The buys, to the tune of $85 billion a month for over a year now, were designed to keep a lid on interest rates. The FOMC stated that starting in January they will decrease these purchases by $10 billion a month and completely stop them by the end of 2014.

You can view the Federal Reserve Chairman Ben Bernanke's press conference here:

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 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 #135622

4.762%

15-Year Fixed

4.500%

$7,035

Includes 0.760 points for $3,040

Lender Fees: $3,995

$3,060 /mo

Next >

NMLS #2473786

4.808%

15-Year Fixed

4.625%

$4,883

Includes 0.947 points for $3,788

Lender Fees: $1,095

$3,086 /mo

Next >

NMLS #2059741

4.888%

15-Year Fixed

4.750%

$3,684

Includes 0.921 points for $3,684

Lender Fees: $0

$3,112 /mo

Next >

NMLS #135622

4.914%

5-Year ARM

4.750%

$7,635

Includes 0.910 points for $3,640

Lender Fees: $3,995

$2,087 /mo

Next >

NMLS #1067

5.008%

15-Year Fixed

4.875%

$3,520

Includes 0.880 points for $3,520

Lender Fees: $0

$3,138 /mo

Next >

NMLS #757416

5.019%

15-Year Fixed

4.875%

$3,816

Includes 0.954 points for $3,816

Lender Fees: $0

$3,138 /mo

Next >

NMLS #1025894

5.078%

15-Year Fixed

4.875%

$5,404

Includes 0.851 points for $3,404

Lender Fees: $2,000

$3,138 /mo

Next >

NMLS #2473786

5.088%

5-Year ARM

5.000%

$4,031

Includes 0.734 points for $2,936

Lender Fees: $1,095

$2,148 /mo

Next >

NMLS #1928741

5.098%

15-Year Fixed

4.990%

$2,840

Includes 0.710 points for $2,840

Lender Fees: $0

$3,162 /mo

Next >

NMLS #6606

5.386%

15-Year Fixed

5.240%

$3,820

Includes 0.955 points for $3,820

Lender Fees: $0

$3,214 /mo

Next >

NMLS #135622

5.636%

30-Year Fixed

5.500%

$6,035

Includes 0.510 points for $2,040

Lender Fees: $3,995

$2,272 /mo

Next >

NMLS #2473786

5.702%

30-Year Fixed

5.625%

$3,367

Includes 0.568 points for $2,272

Lender Fees: $1,095

$2,303 /mo

Next >

NMLS #2059741

5.714%

30-Year Fixed

5.625%

$3,936

Includes 0.984 points for $3,936

Lender Fees: $0

$2,303 /mo

Next >

NMLS #1025894

5.760%

30-Year Fixed

5.625%

$5,924

Includes 0.981 points for $3,924

Lender Fees: $2,000

$2,303 /mo

Next >

NMLS #757416

5.829%

30-Year Fixed

5.750%

$3,448

Includes 0.862 points for $3,448

Lender Fees: $0

$2,335 /mo

Next >

NMLS #1067

5.921%

30-Year Fixed

5.875%

$1,992

Includes 0.498 points for $1,992

Lender Fees: $0

$2,367 /mo

Next >

NMLS #1928741

5.926%

30-Year Fixed

5.875%

$2,208

Includes 0.552 points for $2,208

Lender Fees: $0

$2,367 /mo

Next >

NMLS #6606

6.091%

30-Year Fixed

6.000%

$3,892

Includes 0.973 points for $3,892

Lender Fees: $0

$2,399 /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.

Mortgage Rates Today Move Higher

Both fixed mortgage rates and adjustable mortgage rates moved higher today but are still historically low. 15 year conventional mortgage rates today are averaging 3.57 percent, up from the previous week's average 15 year mortgage rate of 3.53 percent. In the beginning of 2013, average 15 year mortgage rates were only slightly lower than current levels, averaging 3.34 percent in the first week of January.

if you're thinking about refinancing a mortgage now is a good time. Looking forward to 2014, average 15 year mortgage rates are predicted to move up to around 3.75 percent during the first six months of the year. By the end of 2014 average 15 year rates will move above 4.00 percent.

Average 15 year rates are around 3.50 percent but you can find many lenders quoting 15 year refinance rates well below the current average. The lowest 15 year refinance rates today in our database for the state of California are at 3.00 percent with just over 1 mortgage point. The best refinance rates without points in the state of CA are still below the average at 3.25 percent.

Current Mortgage Rates on 30 Year Jumbo Mortgages

Back in early 2013, average 30 year jumbo mortgage rates were just above 4.00 percent and the all-time low was 3.94 percent set late in 2012. The rate spread between 30 year conforming and 30 year jumbo rates has been low all year long. At one point during the year, average jumbo rates were actually lower than average conforming rates.

30 year jumbo mortgage rates are currently averaging 4.64 percent, up from last week's average 30 year jumbo mortgage rate of 4.60 percent. 30 year jumbo rates are higher than earlier this year but are also low historically speaking, and low when compared to average 30 year conforming rates. In the coming year, 30 year jumbo rates will move towards 5.00 percent and as high as 5.25 percent late in 2014.

If you're checking for the lowest jumbo rates, we have lenders quoting 30 year jumbo refinance rates below the average in all states. The lowest 30 year jumbo refi rate in the state of North Carolina is currently at 4.00 percent with 2 mortgage points. The lowest 30 year refi rates without points is also below the average at 4.50 percent.

15 Year Jumbo Mortgage Rates Today

Average 15 year jumbo mortgage rates today are at 3.89 percent, an increase from last week's average 15 year jumbo rate of 3.84 percent. The increase in 15 year jumbo rates in 2013 was similar to the increase in 30 year rates. Back in January of 2013, average 15 year jumbo rates were around 3.35 percent.

Looking at rates next year, average 15 year rates will move above 4.00 percent and as high as 4.50 percent to 4.75 percent by the end of 2014. Right now there are still many lenders quoting 15 year jumbo rates below 4.00 percent. The lowest 15 year jumbo rate with points in the state of New Jersey are currently at 3.375 percent with 2 mortgage points. The lowest 15 year rates without points in NJ are at 3.50 percent.

Today's Adjustable Mortgage Rates

Today's 5 year conforming adjustable mortgage rates are currently averaging 3.74 percent, an increase from the prior week's average 5 year adjustable mortgage rate of 3.60 percent. The best adjustable refinance rates right now in our database for the state of Texas are currently at 2.25 percent with 1.831 points. The best rate without points in TX is still well below the average at 2.75 percent.

Average 5 year jumbo adjustable rates this week are at 3.02 percent, an increase from last week's average rate of 2.97 percent. The lowest 5 year jumbo adjustable rates in our database are also much lower than the average. Checking on our table for the state of Florida the best 5 year rates are at 2.50 percent with 2 mortgage points.