Bank Mortgage Rates Move Higher on Higher Bond Yields Sending Mortgage Applications Lower

For the third consecutive week, bank mortgage rates have moved higher due to higher 10 year bond yields. As a result of higher mortgage rates the past three weeks, demand for mortgage loans has moved lower. The Mortgage Bankers Association's Weekly Application Survey showed demand for loans for both home purchases and refinancing declined for the week ending January 25, 2012.

Mortgage rates today on 30 year conforming loans increased to 3.60 percent, up from last week's average 30 year mortgage rate of 3.52 percent. In the MBA's survey, the average contract rate on 30 year loans was also higher at 3.67 percent, up from the prior survey's average of 3.62 percent.

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 mtg refi Mortgage Loan from Bank of Oak Ridge
Bank of Oak Ridge
300000
Refinance
4.295
4.250
USD
Bank of Oak Ridge
4.295%
4/18/2019
4.250%
at 0.250 pts
60 day lock rate
Est payment: $1,475.82
Fees in APR: $853
 
 
30 yr fixed mtg refi Mortgage Loan from Northwest Federal Credit Union
Northwest Federal Credit Union
300000
Refinance
4.316
4.250
USD
Northwest Federal Credit Union
4.316%
4/17/2019
4.250%
at 0.750 pts
45 day lock rate
Est payment: $1,475.82
Fees in APR: $79
 
 
30 yr fixed mtg refi Mortgage Loan from Bank of America
Bank of America
300000
Refinance
4.343
4.250
USD
Bank of America
4.343%
4/17/2019
4.250%
at 0.671 pts
60 day lock rate
Est payment: $1,475.82
Fees in APR: $1,289
 
 
30 yr fixed mtg refi Mortgage Loan from Apple Federal Credit Union
Apple Federal Credit Union
300000
Refinance
4.345
4.250
USD
Apple Federal Credit Union
4.345%
4/17/2019
4.250%
at 1.000 pts
60 day lock rate
Est payment: $1,475.82
Fees in APR: $352
 
 
30 yr fixed mtg refi Mortgage Loan from TD Bank, NA
TD Bank, NA
300000
Refinance
4.278
4.250
USD
TD Bank, NA
4.278%
4/19/2019
4.250%
at 0.000 pts
45 day lock rate
Est payment: $1,475.82
Fees in APR: $982
 
 
30 yr fixed mtg refi Mortgage Loan from State Department Federal Credit Union
State Department Federal Credit Union
300000
Refinance
4.432
4.375
USD
State Department Federal Credit Union
4.432%
4/22/2019
4.375%
at 0.000 pts
60 day lock rate
Est payment: $1,497.86
Fees in APR: $2,000
 
 
30 yr fixed mtg refi Mortgage Loan from Virginia Credit Union
Virginia Credit Union
300000
Refinance
4.328
4.250
USD
Virginia Credit Union
4.328%
4/23/2019
4.250%
at 0.375 pts
45 day lock rate
Est payment: $1,475.82
Fees in APR: $1,650
 
 
30 yr fixed mtg refi Mortgage Loan from Fulton Bank, NA
Fulton Bank, NA
300000
Refinance
4.539
4.500
USD
Fulton Bank, NA
4.539%
4/23/2019
4.500%
at 0.125 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $1,007
 
 
30 yr fixed mtg refi Mortgage Loan from Santander Bank, N.A.
Santander Bank, N.A.
300000
Refinance
4.557
4.500
USD
Santander Bank, N.A.
4.557%
4/23/2019
4.500%
at 0.000 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $2,004
 
 
30 yr fixed mtg refi Mortgage Loan from LincolnWay Community Bank
LincolnWay Community Bank
300000
Refinance
4.155
4.125
USD
LincolnWay Community Bank
4.155%
4/23/2019
4.125%
at 0.000 pts
30 day lock rate
Est payment: $1,453.95
Fees in APR: $1,085
 
 

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.






Mortgage rates have been moving higher recently but are still just above record lows. The all-time average record low for 30 year conforming mortgage rates is at 3.27 percent. You can find lenders offering 30 year mortgage rates below the average. The lowest 30 year mortgage refinance rates in our rate database today are at 3.125 percent with points. Depending on the state you search for in our database, the lowest refinance rates without points are around 3.375 percent to 3.50 percent.

Today's mortgage rates on 15 year conventional loans are averaging 2.93 percent, an increase from last week's average 15 year mortgage rate of 2.88 percent. We have lenders in our database quoting 15 year refinance rates today - much lower than the average rate. The lowest 15 year refinancing rates with points are at 2.25 percent and the lowest refi rates without points are at 2.50 percent.

Jumbo mortgage rates today on 30 year loans are averaging 4.19 percent, an increase from an average 30 year jumbo mortgage rate of 4.06 percent. Lenders in our California database of rates are offering 30 year jumbo refinance rates today as low as 3.75 percent with 2 points. The lowest 30 year jumbo refi rates without points in CA today are at 4.125 percent, still below the average rate.

15 year jumbo mortgage interest rates today are averaging 3.47 percent, up from last week's average 15 year jumbo rate of 3.38 percent. Depending on the state, the lowest 15 year jumbo rates today are at 2.875 percent with points. The lowest 15 year rates without points are currently at 3.375 percent.

Average 5 year adjustable mortgage rates are at 2.82 percent, unchanged from last week's average 5 year adjustable rate. Current mortgage rates on 5 year adjustable loans can be found as low as 1.50 percent to 1.75 percent with points. The lowest 5 year rates without points are between 2.125 percent and 2.375 percent.

5 year jumbo adjustable mortgage rates are averaging 2.97 percent, up from the prior week's average 5 year jumbo rate of 2.93 percent. The best mortgage rates on 5 year jumbo loans in our database are between at 2.375 percent and 2.50 percent with points and around 2.625 percent without points.
 
 
Author: Robert Till
February 3rd, 2013
Posted in: Bank Mortgage Rates