Today’s Mortgage Rates Up from Record Lows Caused Mortgage Loan Demand to Drop

Today's mortgage rates moving slightly higher caused a dip in the demand for mortgage loans in the Mortgage Bankers Association's most recent Weekly Application Survey. Fixed conforming mortgage rates, jumbo mortgage rates and FHA mortgage rates on 30 year loans all increased this week.

As a result of higher mortgage rates, the MBA's Market Composite Index, a measure of mortgage loan application volume, decreased 1.8 percent on a seasonally adjusted basis from one week earlier. 

Average conventional mortgage rates on 30 year loans increased to 3.76 percent with 0.46 mortgage points, up slightly from an average 30 year mortgage rate of 3.75 percent with 0.51 points the prior week. Right now on our rate table some lenders are offering 30 year current refinance rates as low as 3.25 percent with 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 #757416

5.521%

15-Year Fixed

5.375%

$3,812

Includes 0.953 points for $3,812

Lender Fees: $0

$3,242 /mo

Next >

NMLS #1025894

5.546%

15-Year Fixed

5.375%

$4,476

Includes 0.944 points for $3,776

Lender Fees: $700

$3,242 /mo

Next >

NMLS #6606

5.765%

15-Year Fixed

5.625%

$3,628

Includes 0.907 points for $3,628

Lender Fees: $0

$3,295 /mo

Next >

NMLS #401822

6.194%

15-Year Fixed

6.000%

$4,995

Includes 0.750 points for $3,000

Lender Fees: $1,995

$3,376 /mo

Next >

NMLS #757416

6.562%

30-Year Fixed

6.490%

$2,988

Includes 0.747 points for $2,988

Lender Fees: $0

$2,526 /mo

Next >

NMLS #1025894

6.590%

30-Year Fixed

6.490%

$4,188

Includes 0.872 points for $3,488

Lender Fees: $700

$2,526 /mo

Next >

NMLS #401822

6.644%

30-Year Fixed

6.500%

$5,995

Includes 1.000 points for $4,000

Lender Fees: $1,995

$2,529 /mo

Next >

NMLS #6606

6.713%

30-Year Fixed

6.625%

$3,628

Includes 0.907 points for $3,628

Lender Fees: $0

$2,562 /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 on 30 year jumbo home loans averaged 4.04 percent with 0.35 mortgage points. Average 30 year jumbo mortgage rates are up from the previous week's average of 4.01 percent with 0.32 points. Currently on our jumbo refinance rates list you can find lenders offering 30 year jumbo rates below the average rate.

30 year FHA mortgage rates averaged 3.54 percent with 0.49 mortgage points this week. Average FHA mortgage rates today are up from the prior week's average 30 year FHA mortgage rate of 3.52 percent with 0.55 mortgage points.

Average conventional 15 year mortgage rates declined in this week's mortgage rates survey, the only fix mortgage rate to decline. 15 year mortgage interest rates averaged 3.08 percent with 0.41 mortgage points, a decline from last week's average 15 year mortgage rate of 3.09 percent with 0.49 mortgage points.

Average 15 year mortgage rates today are at 3.00 percent in the national average rate survey from Bankrate. You can find lenders in your state offering current mortgage rates on 15 year loans below the average and as low as 2.75 percent.

Adjustable mortgage rates on 5 year conforming loans averaged 2.72 percent with 0.40 mortgage points. Average 5 year adjustable mortgage interest rates are down from last week's average of 2.73 percent with 0.41 points.