Conforming 30 Year Mortgage Rates Heading Back Down to 4.00 Percent

At one point this summer it looked like 30 year conforming mortgage rates would break through 5.00 percent sometime in 2013. Now it appears 30 year rates will fall back under 4.00 percent this year. Average 30 year mortgage rates today are down again at 4.27 percent, a decline from last week's average rate of 4.28 percent.

Current mortgage rates are heading lower again because 10 year bond yields are moving lower. In early September, 10 year bond yields hit a high of 2.97 percent, today's 10 year rate is at 2.65 percent. The future direction of both bond yields and mortgage rates will depend on the politicians in Washington.

Loan Type
Purchase    Refinance
Location
State/City    Zip Code
Loan Amt Points FICO % Down
  
$
in 95816, 2, 740    Sort by:
Lender
APR
Rate
Cost & Fees
Notes
 
PERIOD_FIXED_30YEARS Mortgage Loan from HomePlus Mortgage
HomePlus Mortgage
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111128.gif
300000
Purchase
3.560%
3.375%
USD
HomePlus Mortgage Logo
NMLS # 78669
10/21/2019
at 2.000 pts
30 day lock rate
Est payment: $1,327
Fees in APR: $6,995
Personal service - one point of contact from start to finish – available nights and weekends
 
PERIOD_FIXED_30YEARS Mortgage Loan from Rocket Mortgage
Rocket Mortgage
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111574.gif
300000
Purchase
4.039%
3.875%
USD
Rocket Mortgage Logo
NMLS # 3030
10/21/2019
at 2.000 pts
45 day lock rate
Est payment: $1,411
Fees in APR: $6,000
From the lender: We can close your loan in less than a month!
 
PERIOD_FIXED_30YEARS Mortgage Loan from Quicken Loans NMLS #3030
Quicken Loans NMLS #3030
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111724.gif
300000
Purchase
4.291%
4.125%
USD
Quicken Loans NMLS #3030 Logo
NMLS # 3030
10/21/2019
at 2.000 pts
45 day lock rate
Est payment: $1,454
Fees in APR: $6,000
The Better Business Bureau gives Quicken Loans and A+ for customer service.
 
PERIOD_FIXED_30YEARS Mortgage Loan from Quicken Loans NMLS #3030
Quicken Loans NMLS #3030
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111724.gif
300000
Purchase
4.291%
4.125%
USD
Quicken Loans NMLS #3030 Logo
NMLS # 3030
10/21/2019
at 2.000 pts
45 day lock rate
Est payment: $1,454
Fees in APR: $6,000
The Better Business Bureau gives Quicken Loans and A+ for customer service.
 
PERIOD_FIXED_30YEARS Mortgage Loan from HomePlus Mortgage
HomePlus Mortgage
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111128.gif
300000
Purchase
3.560%
3.375%
USD
HomePlus Mortgage Logo
NMLS # 78669
10/21/2019
at 2.000 pts
30 day lock rate
Est payment: $1,327
Fees in APR: $6,995
Personal service - one point of contact from start to finish – available nights and weekends
 
PERIOD_FIXED_30YEARS Mortgage Loan from Rocket Mortgage
Rocket Mortgage
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111574.gif
300000
Purchase
4.039%
3.875%
USD
Rocket Mortgage Logo
NMLS # 3030
10/21/2019
at 2.000 pts
45 day lock rate
Est payment: $1,411
Fees in APR: $6,000
From the lender: We can close your loan in less than a month!
 
PERIOD_FIXED_30YEARS Mortgage Loan from HighTechHomeLoans
HighTechHomeLoans
https:https://mortgagerates.icanbuy.com/images/lenderslogos/112330.gif
300000
Purchase
3.526%
3.375%
USD
HighTechHomeLoans Logo
NMLS # 7147
State Lic # 4130937
10/21/2019
at 1.750 pts
30 day lock rate
Est payment: $1,327
Fees in APR: $5,704
HighTechLending is Here To Help
 
PERIOD_FIXED_30YEARS Mortgage Loan from New American Funding
New American Funding
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111741.gif
300000
Purchase
3.514%
3.375%
USD
New American Funding Logo
NMLS # 6606
10/21/2019
at 1.750 pts
30 day lock rate
Est payment: $1,327
Fees in APR: $5,250
Direct lender specializing in helping you save money on your home loan.
 
PERIOD_FIXED_30YEARS Mortgage Loan from Interest Smart Home Loans
Interest Smart Home Loans
https:https://mortgagerates.icanbuy.com/images/lenderslogos/112369.gif
300000
Purchase
3.702%
3.500%
USD
Interest Smart Home Loans Logo
NMLS # 1157416
10/21/2019
at 2.000 pts
30 day lock rate
Est payment: $1,348
Fees in APR: $7,618
SPEAK WITH ONE OF OUR LICENSED MORTGAGE BANKERS NOW!
 
PERIOD_FIXED_30YEARS Mortgage Loan from Apple Financial Network, Inc
Apple Financial Network, Inc
https:https://mortgagerates.icanbuy.com/images/lenderslogos/112378.gif
300000
Purchase
3.556%
3.375%
USD
Apple Financial Network, Inc Logo
NMLS # 1846010
State Lic # 01527337
10/21/2019
at 1.625 pts
30 day lock rate
Est payment: $1,327
Fees in APR: $6,972
Be ready to buy. Get pre-approved by a local lender
 

Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click here for more information on rates and product details.





30 Year Mortgage Rates Today Quoted Under 4.00 Percent


In the short term, whether or not budget and debt ceiling deals are made, rates will drift lower from here. 30 year mortgage rates on average will probably go as low as 4.00 percent sometime in October though right now you can find lenders quoting rates below 4.00 percent.

The lowest mortgage rates currently available in our rate database for 30 year loans are at 3.75 percent with points. The lowest 30 year mortgage refinance rates without points in our database are slightly higher at 4.00 percent.

Today's Mortgage Rates on 15 Year Conventional Loans


Conforming 30 Year Mortgage Rates Heading Back Down to 4.00 PercentToday's average rates on 15 year conventional loans are at 3.34 percent, up one basis point from last week's average 15 year mortgage rate of 3.33 percent. While 15 year rates are slightly higher this week, rates are still down more than 50 basis points from the highs set this summer.

At one point 15 year rates were about to move to the 4.00 percent range but have since fallen five out of the last six weeks. It's quite possible 15 year rates on average will move down towards 3.00 percent again, but I don't see average rates falling below 3.00 percent.

You still can find lenders quoting 15 year refinance rates below the average rate and below 3.00 percent. The best 15 year refinancing rate right now in our database is at 2.75 percent with points. The lowest 15 year refi rate without points in our database is exactly at 3.00 percent.

Current Mortgage Rates on 30 Year Jumbo Mortgages


Average 30 year jumbo mortgage rates currently are at 4.51 percent, down 10 basis points from last week's average 30 year jumbo mortgage rate of 4.61 percent. 30 year jumbo rates were about to break above 5.00 percent this summer, getting as high as 4.88 percent.

The last time 30 year jumbo rates were above 5.00 percent was over three years ago when rates hit 5.13 percent back in July 2010. Right now in our jumbo rate database we have many lenders quoting 30 year jumbo refinance rates well below the average rate.

The lowest 30 year jumbo refinancing rate without points is at 3.75 percent with 2 mortgage points. The lowest 30 year jumbo rate without points today is available at 4.125 percent. Both jumbo rates are well below the current average rate of 4.51 percent.

15 year Jumbo Mortgage Rates Today Move Lower


15 year jumbo mortgage rates today are slightly lower averaging 3.82 percent, down from the previous week's average 15 year rate of 3.85 percent. 15 year jumbo rates have fallen considerably since July when the average rate hit 4.62 percent on July 15th.

The best 15 year jumbo rates in our database are much lower than the current average rate. The lowest rate right now is at 3.125 percent with points. The lowest rate without points is slightly lower than the average rate at 3.75 percent.
 
 
Author: Brian McKay
October 8th, 2013
Posted in: Bank Mortgage Rates