Find Mortgage Rates & Refinance Rates in Your State or Area

Loan Type
Purchase    Refinance
Location
State/City    Zip Code
Loan Amt Points FICO % Down
  
$
30 yr fixed refi in 23223, All points, Credit score: 740+     Sort by:
Lender
APR
Rate
Cost & Fees
Notes
 
30 yr fixed Mortgage Loan from First Internet Bank
First Internet Bank
https://www.brimg.net/system/img/inst/7814_logo.gif
200000
Refinance
4.460
4.375
USD
First Internet Bank Logo
NMLS # 424182
at 0.100 pts
30 day lock rate
Est payment: $998.57
Fees in APR: $1,802
Thank you for your inquiry! 
 
30 yr fixed Mortgage Loan from eRates Mortgage
eRates Mortgage
https://www.brimg.net/system/img/inst/9139_logo.gif
200000
Refinance
4.441
4.375
USD
eRates Mortgage Logo
NMLS # 1071
State Lic # MC-1772
(877) 210-6855
at 0.100 pts
30 day lock rate
Est payment: $998.57
Fees in APR: $1,356
Thank you for your inquiry, we will be in touch shortly. 
 
30 yr fixed Mortgage Loan from First Mortgage Direct
First Mortgage Direct
https://www.brimg.net/system/img/inst/10212_logo.gif
200000
Refinance
4.513
4.375
USD
First Mortgage Direct Logo
NMLS # 244476
State Lic # MC-5877
at 1.000 pts
30 day lock rate
Est payment: $998.57
Fees in APR: $1,216
 
 
30 yr fixed Mortgage Loan from e-Lend
e-Lend
https://www.brimg.net/system/img/inst/7076_logo.gif
200000
Refinance
4.532
4.375
USD
e-Lend Logo
NMLS # 2826
State Lic # MC-3282
at 1.000 pts
30 day lock rate
Est payment: $998.57
Fees in APR: $1,650
 
 
30 yr fixed Mortgage Loan from Lenda, Inc.
Lenda, Inc.
https://www.brimg.net/system/img/inst/8792_logo.gif
200000
Refinance
4.451
4.375
USD
Lenda, Inc. Logo
at 0.100 pts
30 day lock rate
Est payment: $998.57
Fees in APR: $1,582
All online. No annoying phone calls. No paper. No hassles. 
 
30 yr fixed Mortgage Loan from Sol Mortgage
Sol Mortgage
https://www.brimg.net/system/img/inst/10262_logo.gif
200000
Refinance
4.339
4.210
USD
Sol Mortgage Logo
at 0.100 pts
30 day lock rate
Est payment: $979.20
Fees in APR: $2,847
Thanks for the inquiry! 
 
30 yr fixed Mortgage Loan from Capital Bank N.A.
Capital Bank N.A.
https://www.brimg.net/system/img/inst/8589_logo.gif
200000
Refinance
4.584
4.500
USD
Capital Bank N.A. Logo
NMLS # 401599
State Lic # 401599
at 0.100 pts
30 day lock rate
Est payment: $1,013.37
Fees in APR: $1,754
 
 
30 yr fixed Mortgage Loan from Sebonic Financial
Sebonic Financial
https://www.brimg.net/system/img/inst/8420_logo.gif
200000
Refinance
4.338
4.240
USD
Sebonic Financial Logo
NMLS # 66247
State Lic # MC-1825
at 0.100 pts
30 day lock rate
Est payment: $982.71
Fees in APR: $2,102
Thank you for your inquiry, we will be in touch shortly. 
 
30 yr fixed Mortgage Loan from ConsumerDirect Mortgage, a division of First Bank
ConsumerDirect Mortgage, a division of First Bank
https://www.brimg.net/system/img/inst/8087_logo.gif
200000
Refinance
4.377
4.250
USD
ConsumerDirect Mortgage, a division of First Bank Logo
NMLS # 472433
at 1.000 pts
30 day lock rate
Est payment: $983.88
Fees in APR: $988
 
30 yr fixed Mortgage Loan from AimLoan.com
AimLoan.com
https://www.brimg.net/system/img/inst/1739_logo.gif
200000
Refinance
4.334
4.250
USD
AimLoan.com Logo
NMLS # 2890
State Lic # MC-3098
at 0.100 pts
30 day lock rate
Est payment: $983.88
Fees in APR: $1,781
 
 
30 yr fixed Mortgage Loan from McGlone Mortgage Group
McGlone Mortgage Group
https://www.brimg.net/system/img/inst/2125_logo.gif
200000
Refinance
4.375
4.375
USD
McGlone Mortgage Group Logo
NMLS # 3232
State Lic # MC-1532
(877) 475-4039
at 0.000 pts
40 day lock rate
Est payment: $998.57
Fees in APR: None
 
 
30 yr fixed Mortgage Loan from Capital Bank N.A.
Capital Bank N.A.
https://www.brimg.net/system/img/inst/8589_logo.gif
200000
Refinance
4.756
4.750
USD
Capital Bank N.A. Logo
NMLS # 401599
State Lic # 401599
at 0.000 pts
30 day lock rate
Est payment: $1,043.29
Fees in APR: $137
 
 
30 yr fixed Mortgage Loan from First Mortgage Direct
First Mortgage Direct
https://www.brimg.net/system/img/inst/10212_logo.gif
200000
Refinance
4.625
4.625
USD
First Mortgage Direct Logo
NMLS # 244476
State Lic # MC-5877
at 0.000 pts
30 day lock rate
Est payment: $1,028.28
Fees in APR: None
 
 
30 yr fixed Mortgage Loan from eRates Mortgage
eRates Mortgage
https://www.brimg.net/system/img/inst/9139_logo.gif
200000
Refinance
4.625
4.625
USD
eRates Mortgage Logo
NMLS # 1071
State Lic # MC-1772
(877) 210-6855
at 0.000 pts
30 day lock rate
Est payment: $1,028.28
Fees in APR: None
Thank you for your inquiry, we will be in touch shortly. 
 
30 yr fixed Mortgage Loan from e-Lend
e-Lend
https://www.brimg.net/system/img/inst/7076_logo.gif
200000
Refinance
4.500
4.500
USD
e-Lend Logo
NMLS # 2826
State Lic # MC-3282
at 0.000 pts
30 day lock rate
Est payment: $1,013.37
Fees in APR: None
 
 
30 yr fixed Mortgage Loan from Lenda, Inc.
Lenda, Inc.
https://www.brimg.net/system/img/inst/8792_logo.gif
200000
Refinance
4.519
4.500
USD
Lenda, Inc. Logo
at 0.000 pts
30 day lock rate
Est payment: $1,013.37
Fees in APR: $442
All online. No annoying phone calls. No paper. No hassles. 
 
30 yr fixed Mortgage Loan from ConsumerDirect Mortgage, a division of First Bank
ConsumerDirect Mortgage, a division of First Bank
https://www.brimg.net/system/img/inst/8087_logo.gif
200000
Refinance
4.490
4.490
USD
ConsumerDirect Mortgage, a division of First Bank Logo
NMLS # 472433
at 0.000 pts
30 day lock rate
Est payment: $1,012.18
Fees in APR: None
 
30 yr fixed Mortgage Loan from First Internet Bank
First Internet Bank
https://www.brimg.net/system/img/inst/7814_logo.gif
200000
Refinance
4.539
4.500
USD
First Internet Bank Logo
NMLS # 424182
at 0.000 pts
30 day lock rate
Est payment: $1,013.37
Fees in APR: $911
Thank you for your inquiry! 
 
30 yr fixed Mortgage Loan from Sol Mortgage
Sol Mortgage
https://www.brimg.net/system/img/inst/10262_logo.gif
200000
Refinance
4.500
4.500
USD
Sol Mortgage Logo
at 0.000 pts
30 day lock rate
Est payment: $1,013.37
Fees in APR: None
Thanks for the inquiry! 
 
30 yr fixed Mortgage Loan from AimLoan.com
AimLoan.com
https://www.brimg.net/system/img/inst/1739_logo.gif
200000
Refinance
4.411
4.375
USD
AimLoan.com Logo
NMLS # 2890
State Lic # MC-3098
at 0.000 pts
30 day lock rate
Est payment: $998.57
Fees in APR: $847
 
 
30 yr fixed Mortgage Loan from Republic Bank
Republic Bank
https://www.brimg.net/system/img/inst/2248_logo.gif
200000
Refinance
4.538
4.500
USD
Republic Bank Logo
at 0.000 pts
45 day lock rate
Est payment: $1,013.37
Fees in APR: $895
 
 
30 yr fixed Mortgage Loan from BNC National Bank
BNC National Bank
https://www.brimg.net/system/img/inst/7067_logo.gif
200000
Refinance
4.547
4.500
USD
BNC National Bank Logo
NMLS # 418467
at 0.000 pts
30 day lock rate
Est payment: $1,013.37
Fees in APR: $1,095
 
 
30 yr fixed Mortgage Loan from Ally Bank
Ally Bank
https://www.brimg.net/system/img/inst/10271_logo.gif
200000
Refinance
4.913
4.875
USD
Ally Bank Logo
NMLS # 181005
at 0.000 pts
60 day lock rate
Est payment: $1,058.42
Fees in APR: $865
 
 
30 yr fixed Mortgage Loan from LoanLock
LoanLock
https://www.brimg.net/system/img/inst/9948_logo.gif
200000
Refinance
4.750
4.750
USD
LoanLock Logo
at 0.000 pts
30 day lock rate
Est payment: $1,043.29
Fees in APR: None
 
 
30 yr fixed Mortgage Loan from JG Wentworth Home Lending
JG Wentworth Home Lending
https://www.brimg.net/system/img/inst/10054_logo.gif
200000
Refinance
4.638
4.625
USD
JG Wentworth Home Lending Logo
NMLS # 2925
State Lic # MC-1875
at 0.000 pts
45 day lock rate
Est payment: $1,028.28
Fees in APR: $299
 
 
30 yr fixed Mortgage Loan from Sebonic Financial
Sebonic Financial
https://www.brimg.net/system/img/inst/8420_logo.gif
200000
Refinance
4.410
4.365
USD
Sebonic Financial Logo
NMLS # 66247
State Lic # MC-1825
at 0.000 pts
30 day lock rate
Est payment: $997.39
Fees in APR: $1,064
Thank you for your inquiry, we will be in touch shortly. 
 
30 yr fixed Mortgage Loan from Citibank, N. A.
Citibank, N. A.
https://www.brimg.net/system/img/inst/8189_logo.gif
200000
Refinance
4.822
4.750
USD
Citibank, N. A. Logo
NMLS # 412915
(877) 693-8156
at 0.000 pts
60 day lock rate
Est payment: $1,043.29
Fees in APR: $1,650
 
 
30 yr fixed Mortgage Loan from ConsumerDirect Mortgage, a division of First Bank
ConsumerDirect Mortgage, a division of First Bank
https://www.brimg.net/system/img/inst/8087_logo.gif
200000
Refinance
4.320
4.000
USD
ConsumerDirect Mortgage, a division of First Bank Logo
NMLS # 472433
at 2.000 pts
30 day lock rate
Est payment: $954.83
Fees in APR: $3,514
 
30 yr fixed Mortgage Loan from Lenda, Inc.
Lenda, Inc.
https://www.brimg.net/system/img/inst/8792_logo.gif
200000
Refinance
4.374
4.250
USD
Lenda, Inc. Logo
at 1.100 pts
30 day lock rate
Est payment: $983.88
Fees in APR: $716
All online. No annoying phone calls. No paper. No hassles. 
 
30 yr fixed Mortgage Loan from eRates Mortgage
eRates Mortgage
https://www.brimg.net/system/img/inst/9139_logo.gif
200000
Refinance
4.383
4.250
USD
eRates Mortgage Logo
NMLS # 1071
State Lic # MC-1772
(877) 210-6855
at 1.100 pts
30 day lock rate
Est payment: $983.88
Fees in APR: $918
Thank you for your inquiry, we will be in touch shortly. 
 
30 yr fixed Mortgage Loan from AimLoan.com
AimLoan.com
https://www.brimg.net/system/img/inst/1739_logo.gif
200000
Refinance
4.263
4.125
USD
AimLoan.com Logo
NMLS # 2890
State Lic # MC-3098
at 1.100 pts
30 day lock rate
Est payment: $969.30
Fees in APR: $1,079
 
 
30 yr fixed Mortgage Loan from Sol Mortgage
Sol Mortgage
https://www.brimg.net/system/img/inst/10262_logo.gif
200000
Refinance
4.269
4.085
USD
Sol Mortgage Logo
at 1.100 pts
30 day lock rate
Est payment: $964.66
Fees in APR: $2,139
Thanks for the inquiry! 
 
30 yr fixed Mortgage Loan from Sebonic Financial
Sebonic Financial
https://www.brimg.net/system/img/inst/8420_logo.gif
200000
Refinance
4.194
3.990
USD
Sebonic Financial Logo
NMLS # 66247
State Lic # MC-1825
at 1.100 pts
30 day lock rate
Est payment: $953.68
Fees in APR: $2,634
Thank you for your inquiry, we will be in touch shortly. 
 
30 yr fixed mtg refi Mortgage Loan from Virginia Credit Union
Virginia Credit Union
200000
Refinance
4.571
4.500
USD
Virginia Credit Union
4.571%
4/17/2018
4.500%
at 0.000 pts
45 day lock rate
Est payment: $1,013.37
Fees in APR: $1,650
 
 
30 yr fixed mtg refi Mortgage Loan from LincolnWay Community Bank
LincolnWay Community Bank
200000
Refinance
4.546
4.500
USD
LincolnWay Community Bank
4.546%
4/17/2018
4.500%
at 0.000 pts
30 day lock rate
Est payment: $1,013.37
Fees in APR: $1,085
 
 
30 yr fixed mtg refi Mortgage Loan from Fulton Bank, NA
Fulton Bank, NA
200000
Refinance
4.701
4.625
USD
Fulton Bank, NA
4.701%
4/17/2018
4.625%
at 0.375 pts
60 day lock rate
Est payment: $1,028.28
Fees in APR: $1,007
 
 
30 yr fixed mtg refi Mortgage Loan from Raymond James Bank, NA
Raymond James Bank, NA
200000
Refinance
4.806
4.750
USD
Raymond James Bank, NA
4.806%
4/17/2018
4.750%
at 0.000 pts
45 day lock rate
Est payment: $1,043.29
Fees in APR: $1,299
 
 
30 yr fixed mtg refi Mortgage Loan from Bank of America
Bank of America
200000
Refinance
4.625
4.500
USD
Bank of America
4.625%
4/18/2018
4.500%
at 0.806 pts
60 day lock rate
Est payment: $1,013.37
Fees in APR: $1,289
 
 
30 yr fixed mtg refi Mortgage Loan from State Department Federal Credit Union
State Department Federal Credit Union
200000
Refinance
4.460
4.375
USD
State Department Federal Credit Union
4.460%
4/16/2018
4.375%
at 0.000 pts
60 day lock rate
Est payment: $998.57
Fees in APR: $2,000
 
 
30 yr fixed mtg refi Mortgage Loan from Bank of Charles Town
Bank of Charles Town
200000
Refinance
4.536
4.500
USD
Bank of Charles Town
4.536%
4/16/2018
4.500%
at 0.000 pts
45 day lock rate
Est payment: $1,013.37
Fees in APR: $853
 
 
30 yr fixed mtg refi Mortgage Loan from The Fidelity Bank
The Fidelity Bank
200000
Refinance
4.787
4.750
USD
The Fidelity Bank
4.787%
4/20/2018
4.750%
at 0.000 pts
30 day lock rate
Est payment: $1,043.29
Fees in APR: $863
 
 
30 yr fixed mtg refi Mortgage Loan from Santander Bank, N.A.
Santander Bank, N.A.
200000
Refinance
4.837
4.750
USD
Santander Bank, N.A.
4.837%
4/20/2018
4.750%
at 0.000 pts
60 day lock rate
Est payment: $1,043.29
Fees in APR: $2,004
 
 
30 yr fixed mtg refi Mortgage Loan from TD Bank, NA
TD Bank, NA
200000
Refinance
4.542
4.500
USD
TD Bank, NA
4.542%
4/20/2018
4.500%
at 0.000 pts
45 day lock rate
Est payment: $1,013.37
Fees in APR: $982
 
 
30 yr fixed mtg refi Mortgage Loan from Langley FCU
Langley FCU
200000
Refinance
4.842
4.625
USD
Langley FCU
4.842%
4/20/2018
4.625%
at 0.000 pts
30 day lock rate
Est payment: $1,028.28
Fees in APR: $4,950
 
 
30 yr fixed mtg refi Mortgage Loan from Bank of Oak Ridge
Bank of Oak Ridge
200000
Refinance
4.577
4.500
USD
Bank of Oak Ridge
4.577%
4/19/2018
4.500%
at 0.470 pts
60 day lock rate
Est payment: $1,013.37
Fees in APR: $853
 
 
30 yr fixed mtg refi Mortgage Loan from Northwest Federal Credit Union
Northwest Federal Credit Union
200000
Refinance
4.672
4.625
USD
Northwest Federal Credit Union
4.672%
4/19/2018
4.625%
at 0.500 pts
45 day lock rate
Est payment: $1,028.28
Fees in APR: $79
 
 
30 yr fixed mtg refi Mortgage Loan from Apple Federal Credit Union
Apple Federal Credit Union
200000
Refinance
4.683
4.625
USD
Apple Federal Credit Union
4.683%
4/19/2018
4.625%
at 0.500 pts
60 day lock rate
Est payment: $1,028.28
Fees in APR: $352
 
 

Mortage Data Provided by Bankrate.com Many lenders have different rates on their own Websites than those posted on Bankrate.com. In order to get the Bankrate.com rate, please identify yourself as a Bankrate.com customer. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the lender you choose, please click here.

The rates above were collected by Bankrate.com on the dates specified. Rates are subject to change without notice and may vary from branch to branch. Rate/APR and terms may vary based on the creditworthiness of the individual and the extent to which the loan differs from the one used for Bankrate.com quotes. For criteria used in surveys of rates above, click here. These quotes are from banks, thrifts, and brokers, some of whom have paid for a link to their own Web site, where you can find additional information.



There are several different types of mortgage loans available to homebuyers and homeowners who are refinancing their current mortgages.  30 year mortgages are the most popular. When figuring out which loan is best for your situation, the first thing you should decide on is whether or not you want a loan with a fixed mortgage rate or an adjustable mortgage rate.

After deciding on the type of rate, you then have to decide on the term of the mortgage loan. Terms vary from as short as 1 year mortgage for an adjustable rate loan and as long as 30 year for a fixed rate loan. Mortgage rates today on all types of loans are just above record lows, so right now is a very good time to buy or refinance your current mortgage.

30 year mortgagesThere are some advantages to all types of loans and figuring out what is best for your situation will help you determine which loan fits your needs. The biggest factors to consider are how much the monthly mortgage payment will be and how long you plan to live in the house.

30 Year Mortgages Most Popular

By far, the most popular loan types are fixed rate mortgages because the mortgage interest rate on the loan never changes and as a result, the monthly mortgage payment of principal plus interest (P+I) never changes. The monthly payment can change if you have property taxes and homeowners insurance escrowed into the payment. 30 year mortgages are the most popular, the second most popular loans are 15 year mortgages.

In a recent refinance report released by Freddie Mac, 95 percent of those refinancing chose a fixed rate mortgage over an adjustable rate mortgage.

There are several different terms on fixed rate loans, the most popular terms are 30 years and 15 years. There are many lenders that also offer 20 year loans and 10 loans. During the housing boom when home prices were rising very quickly, some lenders also offered 40 year loans but those are almost non-existent these days.

Adjustable Mortgage Rates Better for Suited for Short Term

Adjustable mortgage rates loans are more inherently risky than fixed mortgage rate loans for the simple fact that the mortgage rate will eventually adjust. The most common type of adjustable rate loan is a 5/1 ARM, but there are also 1 year, 3 year, 7 year and 10 year ARMs.

With a 5/1 ARM, the mortgage rate stays the same for the first 5 years but can adjust after the initial period. There are usually annual caps and lifetime caps on how much the rate can adjust. A higher mortgage rate will increase your monthly mortgage payments. During the housing boom, many unsuspecting borrowers were steered into these types of loans and ended up losing their homes when the rate adjusted higher.

Adjustable rate mortgages are not all bad and they can be a useful tool for many homebuyers. Current short term adjustable mortgage rates are lower than long term rates. If you only plan to be in a home for a short period of time, you can have a lower monthly payment with a 5 year adjustable loan versus a 30 year loan.

Homeowners Take Advantage of Current Low Mortgage Rates

Historically, most people choose a 30 year term over a 15 year term but taking longer to payoff a mortgage loan will cost you a lot more in the long run, which we outline below. Mortgage rates today are just above record lows. Homeowners refinancing their mortgages are continuing to take advantage of this by lowering their payments and shortening their loan terms.

In the recent refinance report released by Freddie Mac, 37 percent of homeowners shorten their loan term when refinancing. 32 percent of homeowners who refinanced in the government’s Home Affordable Refinance Program (HARP) took out a shorter-term loan. 40 percent of homeowners outside of HARP refinancing to a shorter term loan.

37 Percent Shortened Loan Term When Refinancing

15 Year Loans Better Than 30 Year Loans

Considering how low mortgage rates are, the trend towards a shorter term loan isn’t a surprise but the biggest benefit to a 15 year loan over a 30 year loan is the amount of money you can save. Current 15 year rates are just about a full percentage point rate lower than 30 year rates.

A lower mortgage rate lowers the amount of mortgage interest you pay on the loan. Lowering the number of years to pay off the loan is the biggest savings. The one prohibitive factor for a 15 year loan versus a 30 year loan is that the monthly mortgage payments are higher for a 15 year loan. If you can afford the higher monthly payments, a 15 year term is the way to go.  Unfortunately, many people simply assume they can’t afford a 15 year mortgage without looking into what their payments would actually be, much less weighing in the tremendous savings over the long term.

The following is an example of how much money can be saved in mortgage interest payments. Comparing a 15 year or a 10 year loan vs a 30 year loan. The longer the term, the lower the monthly payments are, so let’s first look at the monthly payments for a $500,000 mortgage.

Monthly Mortgage Payment Difference

A mortgage for $500,000 financed for 30 years at 3.75 percent equals a monthly payment of $2,315.58.

$500,000 financed for 15 years at 2.875 percent equals a monthly payment of $3,422.93.

A loan for $500,000 financed for 10 years at 2.39 percent equals a monthly payment of $4,688.63.

The payment amount is higher for shorter term loans but if you can manage the payments its worth it. Take a look at the amount of mortgage interest paid over the life of the loan terms in this example.

Difference in Total Mortgage Interest Paid

$500,000 financed for 30 years at 3.75 percent will cost a total of $333,607.53 just in mortgage interest payments. When you include the principal paid the grand total comes to $833,607.53.

$500,000 financed for 15 years at 2.875 percent will cost a total of $116,127.15 in mortgage interest payments. When you include the principal paid the grand total comes to $616,127.15.

$500,000 financed for 10 years at 2.39 percent will cost a total of $2,623.07 in mortgage interest payments. When you include the principal paid the grand total comes to $562,623.07. Let’s take a closer look at the total cost difference.

Shorter Term Mortgage Saves Hundreds of Thousands in Interest Payments

  • 30 year total cost $833,607.53
  • 15 year total cost $616,127.15
  • 10 year total cost $562,623.07

Going with a 15 year loan over a 30 year loan saves $217,000. Comparing a 30 year loan vs a 10 year loan saves $271,000. In this example you save a couple of hundreds of thousands of dollars in interest payments. You would be foolish not to take out a shorter term loan. Again that is if you can afford the monthly payments.

You should think real hard about a shorter term loan. Especially if the house you plan to buy is the last house you plan on ever owning.

 
 
Author: Brian McKay
October 8th, 2017
Posted in: Bank Mortgage Rates

Mortgage rates continue to decline following 10 year U.S. Treasury yields lower. Average 30 year mortgage refinance rates are at 4.22 percent, down from the prior week’s average 30 year mortgage rate of 4.30 percent. So far in 2014 average 30 year mortgage rates have fallen more than 30 basis points and 10 year bond yields have fallen 40 basis points.

Lower interest rates wasn’t supposed to be the trend in 2014 as the Federal Reserve continues to taper their bond purchases and the unemployment rate ticks lower. Economic growth hasn’t been on fire which has kept a lid on inflation and interest rates. In fact this week’s decline in bond rates can be linked to investors fleeing to the safety of U.S. Treasuries as the trouble in Ukraine intensifies.

Low rates won’t last forever and rates will eventually move higher in 2014. The Fed’s purchases have dwindled to $45 billion a month, down from $85 billion a month in 2014. If the Fed continues to lower their purchases by $10 billion a month after each Fed meeting, by the October meeting they will have stopped buying these securities.

The Fed’s purchases does have some impact on interest rates but the bigger impact is economic growth. The first indication of better growth came this past week when the Labor Department reported 288,000 jobs created and the unemployment rate falling to 6.3 percent in the month of April. Forecasts were for 200,000 jobs being created and an unemployment rate of 6.6 percent.

If this trend continues bond rates will move higher and mortgage rates will also increase. The future direction of mortgage rates is higher for 2014 and beyond. By the end of this year, 30 year mortgage rates are forecasted to be around 5.00 percent. You should lock in a mortgage rate now if you’re planning on buying a home. If you’re thinking about refinancing your current mortgage, you should try to do so before rates move higher.

Mortgage rates today on 30 year loans are averaging 4.22 percent but there are many lenders quoting 30 year rates below the average. In our database of rates, we see many lenders quoting 30 year refinance rates around 4.00 percent. As you can see in most states listed below, there is at least one lender quoting 30 year rates below 4.00 percent.

Lowest 30 Year Rates Across the United States

  • California – 3.875% with 0.10 mortgage point
  • Nevada – 4.125% with 1 mortgage point
  • Texas – 3.875% with 0.10 mortgage point
  • Colorado – 3.875% with 0.10 mortgage point
  • Illinois – 3.875% with 0.10 mortgage point
  • Georgia – 3.875% with 0.10 mortgage point
  • Florida – 3.875% with 0.10 mortgage point
  • Maryland – 3.875% with 0.10 mortgage point
  • Connecticut  – 3.875% with 0.10 mortgage point

 

 
 
Author: Brian McKay
May 7th, 2014
Posted in: Bank Mortgage Rates

Just as everyone was predicting that mortgage rates would rise, so far the opposite has happened in 2014. Average mortgage rates are down for the third consecutive week because of lower long term bond yields. 10 year bond yields are down to 2.73 percent, a decline from 2.86 percent last Wednesday.

Mortgage rates today on 30 year conforming loans are averaging 4.33 percent, down from the previous week’s average 30 year mortgage rate of 4.39 percent. The decline in average rates is remarkable considering that the Federal Reserve started winding down their purchases of mortgage-backed securities and long term bonds.

Mortgage Rates Down Thanks to Emerging Market Fears and Lower Bond Yields30 Year Mortgage Rates Will Decline This Week

At the end of December, average 30 year mortgage rates were above 4.50 percent and look to move to 4.75 percent. Now we will probably see average 30 year rates decline further this week if equity markets continue to fall. Investors have withdrawn money from emerging markets, sending equities tanking both abroad and in the United States.

Currently, equity indices are mixed. The Dow is up 26 points and the NASDAQ is down 33 points. 10 year bond yields are lower by 1 basis point to 2.73 percent. If the down trend continues this week, bond yields and mortgage rates will continue to decline. The move out of riskier assets into the safe haven of U.S. Treasuries is the classic flight to quality we see whenever there is any fear in the markets. As bond prices rise, bond yields move lower. Lenders quote mortgage rates based on bond yields, so when yields fall mortgage rates follow lower.

The lowest quoted 30 year conforming refinance rates on our rate table for the state of California are currently at 3.875 percent with 2 mortgage points. The lowest quoted rates for 30 year loans without points is currently at 4.115 percent. We have lenders quoting rates in all other states in the same range as the rates listed for California.

Current 15 Year Mortgage Rates

Average 15 year mortgage rates today are currently at 3.40 percent, down from the prior week’s average 15 year mortgage rate of 3.45 percent. Late in 2013, average 15 year rates moved above 3.60 percent and looked to be headed as high as 3.75 percent. This coming week we will probably see average 15 year rates fall even lower, possibly as low as 3.25 percent.

If you’re searching for 15 year refinance rates, we have lenders quoting rates well below the average rate of 3.40 percent. In the state of Georgia we have 4 lenders quoting 15 year refi rates on conforming loans at 2.875 percent with various points. The best rates without points in the state of GA are currently at 3.125 percent.

Today’s 30 Year Jumbo Mortgage Rates

30 year jumbo mortgage rates are averaging 4.53 percent, a decline from last week’s average 30 year jumbo mortgage rate of 4.57 percent. Late last year, average 30 year jumbo rates were heading towards 5.00 percent but now they will move back below 4.50 percent. This week average 30 year jumbo rates will fall to around 4.40 percent to 4.45 percent.

The best 30 year jumbo refinance rates right now in our database for the state of Florida are well below the average and below 4.00 percent. The lowest rate on 30 year jumbo loans is currently at 3.85 percent with 2 mortgage points. The lowest 30 year jumbo rates without points in the state of Florida is still below the average at 4.34 percent.

15 Year Jumbo Mortgage Rates Today

Average 15 year jumbo mortgage interest rates are currently at 3.97 percent, a decline from the prior week’s average 15 year jumbo rate of 4.04 percent. This is the first time in a month that average 15 year jumbo rates are below 4.00 percent. This week the average rate could fall below 3.90 percent.

The lowest 15 year jumbo rates on our rate table are 60 basis points below the average rate. The best rate in the state of Texas is currently at 3.375 percent with 1 mortgage point. The lowest 15 year jumbo refi rate without points is at 3.50 percent, still below the average rate.

5/1 Adjustable Mortgage Rates

Average 5/1 conforming adjustable mortgage rates are at 3.52 percent, down from last week’s average 5 year adjustable mortgage rate of 3.55 percent. The best 5 year adjustable rates in our database are more than 1.00 percent below the average at 2.375 percent with just under 2 points. The lowest 5 year rate without points is also way below the average at 2.625 percent.

Jumbo 5 year adjustable rates are currently averaging 3.09 percent, no change from last week’s average 5 year jumbo rate. The best jumbo adjustable rate in our database are at 2.50 percent with 2 points and at 2.875 percent with no points.

 

 
 
Author: Brian McKay
January 28th, 2014
Posted in: Bank Mortgage Rates

Today’s mortgage rates moved lower as 10 year bond yields fell from recent highs set earlier this week. 10 year bond rates peaked this week at 2.88 percent and are currently at 2.83 percent, as a result mortgage rates are lower and will decline more this week.

Ten year bond rates hit a recent high of 2.88 percent and looked to break through 2.90 percent have fallen the past couple of days down to 2.81 percent. This decline will send mortgage rates lower over the rest of this week. As for the rest of 2013, average mortgage rates will remain near current levels. There will be no big moves in rates unless the budget deal reached in Washington is voted down.

Mortgage Rates

Mortgage Rates Today Move Lower Best 15 Year Rates Just Under 300Mortgage rates today on 15 year conforming loans are averaging 3.44 percent, a decline from last week’s average 15 year mortgage rate of 3.46 percent. The outlook for average 15 year conventional mortgage rates this month is within current ranges. Average rates could drop as low as 3.25 percent and on the upside, rates could increase to around 3.65 percent.

The best 15 year mortgage rates in our database for the state of New Jersey are still under 3.00 percent at 2.875 percent with points. The lowest 15 year rate without points is at 3.125 percent, still below the average rate. Lenders in our databases are quoting the same 15 year mortgage refinance rates in most states right now.

30 Year Conforming Mortgage Rates

30 year conforming mortgage rates are currently averaging 4.42 percent, a slight decline from last week’s average 30 year mortgage rate of 4.43 percent.  Average 30 year rates will also remain near current levels for the rest of 2013. On the low side, rates could drop as low as 4.25 percent or move as high as 4.65 percent.

Today’s 30 year mortgage rates in our database are quoted below the average of 4.42 percent and below 4.00 percent if you’re willing to pay points. The lowest 30 year refinance rate right now in our database for California is 3.875 percent with points and the lowest rate without points is quoted at 4.125 percent. The same lenders are also quoting 30 year refinance rates in most other states in our databases.

30 Year Jumbo Mortgage Rates Today

Average 30 year jumbo mortgage rates today are at 4.52 percent, an increase from last week’s average 30 year jumbo mortgage rate of 4.46 percent. The increase in average jumbo rates this week will be temporary and rates will decrease this week. For the remainder of 2013, average 30 year jumbo rates will be in a range of 4.35 percent to 4.70 percent.

The lowest jumbo mortgage rates in our database for the state of Colorado are currently at 4.125 percent with 1.33 mortgage points. The lowest 30 year jumbo refi rates without points are still below the average at 4.375 percent.

Today’s 15 Year Jumbo Rates

Today’s mortgage rates on 15 year jumbo loans are averaging 3.82 percent, down from last week’s average 15 year jumbo rates of 3.85 percent. For the rest of 2013, average 15 year jumbo rates will probably be in a range of 3.65 percent to 4.00 percent. Right now the lowest 15 year jumbo rates in our databases are lower than the average.

The lowest 15 year jumbo refi rate in our database for the state of Florida is currently at 3.50 percent with points. The lowest 15 year jumbo refi rate without points in FL is at 3.875 percent, just above the national average rate.

Current 5 Year Adjustable Mortgage Rates

Conventional 5 year adjustable refinance mortgage rates are averaging 3.49 percent, a large decline from last week’s average 5 year adjustable rate of 3.61 percent. For the rest of 2013, average 5 year adjustable rates will probably remain between 3.35 percent and 3.70 percent.

Currently, the lowest 5 year adjustable refinance rates in our database are much lower than the average rate. The lowest 5 year refi rate with points in our database for Texas is at an incredibly low rate of 2.125 percent. The lowest 5 year TX refi rate without point is also way below the average at 2.625 percent.

Jumbo 5 Year Adjustable Mortgage Rates Today

Jumbo adjustable mortgage rates today on 5 year jumbo loans are averaging 2.89 percent, an increase from the previous week’s average 5 year jumbo rate of 2.83 percent. 5 year jumbo rates will remain in a range of 2.60 percent to 3.10 percent for the rest of this year.

Right now the lowest 5 year jumbo refinance rates in our database are also more than 1.00 percent below the average. The best 5 year jumbo rate in our database for the state of Pennsylvania is currently at 2.25 percent with points. The lowest 5 year jumbo refi rate without points in PA is currently at 2.75 percent, also more than 1.00 percent below the average rate.

 
 
Author: Brian McKay
December 11th, 2013
Posted in: Bank Mortgage Rates

Mortgage rates retreated this week, average 30 year conforming mortgage rates declined to 4.33 percent today, down from last week’s average 30 year mortgage rate of 4.39 percent. Fixed mortgage rates are lower this week on lower bond yields, which fell 10 basis points over the past week to close at 2.68 percent.

With the confirmation of Janet Yellen as the new Federal Reserve Chair all but certain, investors have breathed a slight of relief that the Fed won’t change their easing anytime soon. The Fed has kept bond rates and mortgage interest rates low through a series of policies including buying mortgage-backed securities and long term U.S. bonds. Janet Yellen has advocated to keep the easing going for now, which will keep a lid on mortgage rates.

Search for Rates in Your State Here: Current Mortgage Rates

Mortgage Rates Lowest 30 Year Mortgage Rates Today at 3625If you’re searching for 30 year conforming mortgage refinance rates, we have lenders quoting rates below the average of 4.33 percent. Currently, the lowest 30 year refinance rates in our database are at 3.625 percent with just under 1 mortgage point. The best 30 year refinancing rates without points are currently at 4.00 percent, still below the average rate.

For the rest of 2013, 30 year conforming rates will be range-bound between 4.00 percent and 4.50 percent. Interest rates are headed higher in 2014, so now is the time to lock in a rate if you’re buying a home. If you’re refinancing your loan, you should also do so now since rates are moving higher.

Average 15 Year Mortgage Rates at 3.37%, Best 15 Year Rates at 2.75%

Average 15 year conventional mortgage rates are down to 3.37 percent this week, a decline from the prior week’s average 15 year mortgage rate of 4.45 percent. For the rest of 2013, average mortgage rates on 15 year conforming loans will be in a range of 3.10 percent to 3.60 percent.

The lowest 15 year mortgage rates available in our database are more than 50 basis points below the average rate. Right now the best 15 year mortgage rate quoted by lenders is at 2.75 percent with points. The lowest 15 year rates without points is below the average and still below 3.00 percent at 2.99 percent.

Current Mortgage Rates on 30 Year Jumbo Loans

30 year jumbo mortgage rates today are averaging 4.51 percent, a decline from the previous week’s average 30 year jumbo mortgage rate of 4.54 percent. For the rest of this year, average 30 year jumbo mortgage interest rates will be in a range of 4.30 percent and 4.70 percent.

The best jumbo mortgage rates in our database right now are 0.51 percent below the average rate at 4.00 percent with 2 mortgage points. The best jumbo refinance rates without points right now in our database are also below the average at 4.125 percent.

15 Year Jumbo Mortgage Rates Today

Average 15 year jumbo mortgage rates today are at 3.93 percent, down from last week’s average 15 year mortgage rate of 3.98 percent. 15 year jumbo rates on average will remain under 4.10 percent for the rest of 2013 and might move as low as 3.75 percent.

Currently, the best 15 year jumbo mortgage refinance rates in our database are more than 75 basis points below the average. The lowest rate right now in our database are at 3.125 percent with 1.25 mortgage points. The lowest 15 year jumbo refi rates without points right now are at 3.50 percent.

Today’s Mortgage Rates on 5 Year Adjustable Loans

5 year conventional adjustable mortgage rates are averaging 3.56 percent today, a slight decline from last week’s average 5 year adjustable mortgage rate of 3.57 percent. For the rest of 2013, average 5 year adjustable rates will remain between 3.40 percent and 3.70 percent.

The best 5 year adjustable refinance rates in our database today are well below the average rate. The best rate right now is at 2.125 percent with points, almost 1.50 percent below the average rate. The lowest 5 year rate without points is at 2.49 percent, still 1.00 percent below the average rate.

Current 5 Year Jumbo Adjustable Rates

Current mortgage rates on 5 year jumbo loans are averaging 2.87 percent, down slightly from last week’s 5 year jumbo adjustable rate of 2.88 percent. 5 year jumbo rates will remain in a range of 2.75 percent and 3.00 percent for the rest of 2013.

Right now, the lowest 5 year jumbo adjustable refi rates in our database are much lower than the average at 2.125 percent. The best jumbo rates on 5 year adjustable loans is also below the average at 2.49 percent.

 
 
Author: Brian McKay
November 19th, 2013
Posted in: Bank Mortgage Rates