30 Year Conforming Mortgage Rates at Banks Averaging 3.47 Percent Today

30 year conforming mortgage rates at banks are averaging 3.47 percent, a decline from yesterday's average 30 year mortgage rate of 3.51 percent. Mortgage rates today are down slightly on lower bond yields as house Republicans decide to vote on lifting the debt ceiling until May 1, 2013. Lifting the debt ceiling until May avoids a nasty budget fight that could risk the U.S. economy as well as the credit rating of the United States.

The lowest 30 year refinance rates today in our rate database are lower than the average rates. In all 50 of the the United States you can find lenders quoting rates below 3.47 percent with and without points. For example, the lowest refinance rate in our database for the state of California are from AimLoan at 2.875 percent with 1.766 points. The lowest 30 year refinancing rates without points are from Watermark Home Loans at 3.00 percent.

Today's mortgage rates on 15 year conventional loans are averaging 2.84 percent, a decline from yesterday's average 15 year mortgage rate of 2.87 percent. Average 15 year mortgage refinance rates are just above record lows of 2.77 percent and will make new lows this month or next.

If you're looking for a mortgage loan you should really consider a 15 year loan instead of a 30 year loan. The pros of a 15 year loan are saving tens of thousands or even hundreds of thousands of dollars in interest payments plus you'll own your home outright in half the time. The one con to a 15 year mortgage is the monthly mortgage payments will be higher than a 30 year loan.

Right now there are many lenders quoting 15 year conventional mortgage refinance rates below the average of 2.84 percent. The lowest 15 year refi rates on our rate list for the state of Florida are at 2.25 percent with 1.099 points. The lowest refi rate without points on our list for Florida is at 2.50 percent.

Average 30 year jumbo mortgage rates today are at 4.03 percent, unchanged from yesterday's average 30 year jumbo mortgage rate. The lowest jumbo refinance rates on our rate list in all 50 states are below 4.00 percent. For example, right now on our list for the state of New Jersey, the lowest jumbo refi rates are from Investors Home Mortgage at 3.625 percent with zero mortgage points.

Current mortgage rates on 15 year jumbo loans are averaging 3.42 percent, a decline from yesterday's average 15 year jumbo rate of 3.43 percent. The lowest 15 year jumbo mortgage refinance rates on our lists are below the average and below 3.00 percent. Right now in the state of Connecticut, the lowest 15 year jumbo rate is at 2.875 percent with 1 mortgage point. The best 15 year rate without points is at 3.00 percent.