Mortgage Rates Lower Due to Emerging Market Fears and Lower Bond Yields

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.

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 Ally Bank
Ally Bank
https://www.brimg.net/system/img/inst/10271_logo.gif
300000
Refinance
4.230
4.125
USD
Ally Bank Logo
NMLS # 181005
at 0.100 pts
45 day lock rate
Est payment: $1,453.95
Fees in APR: $3,450
Thanks for the inquiry! 
 
30 yr fixed Mortgage Loan from E-Click Lending
E-Click Lending
https://www.brimg.net/system/img/inst/4213_logo.gif
300000
Refinance
4.223
3.990
USD
E-Click Lending Logo
NMLS # 227765
State Lic # MC-5920
(877) 387 - 3899
at 1.000 pts
30 day lock rate
Est payment: $1,430.52
Fees in APR: $5,283
 
 
30 yr fixed Mortgage Loan from Sebonic Financial
Sebonic Financial
https://www.brimg.net/system/img/inst/8420_logo.gif
300000
Refinance
4.094
3.990
USD
Sebonic Financial Logo
NMLS # 66247
State Lic # MC-1825
at 0.100 pts
30 day lock rate
Est payment: $1,430.52
Fees in APR: $3,431
Thank you for your inquiry, we will be in touch shortly. 
 
30 yr fixed Mortgage Loan from First Midwest Bank
First Midwest Bank
https://www.brimg.net/system/img/inst/10612_logo.gif
300000
Refinance
4.052
3.990
USD
First Midwest Bank Logo
NMLS # 423112
at 0.750 pts
60 day lock rate
Est payment: $1,430.52
Fees in APR: None
 
 
30 yr fixed Mortgage Loan from First Midwest Bank
First Midwest Bank
https://www.brimg.net/system/img/inst/10612_logo.gif
300000
Refinance
4.125
4.125
USD
First Midwest Bank Logo
NMLS # 423112
at 0.000 pts
60 day lock rate
Est payment: $1,453.95
Fees in APR: None
 
 
30 yr fixed Mortgage Loan from E-Click Lending
E-Click Lending
https://www.brimg.net/system/img/inst/4213_logo.gif
300000
Refinance
4.427
4.375
USD
E-Click Lending Logo
NMLS # 227765
State Lic # MC-5920
(877) 387 - 3899
at 0.000 pts
30 day lock rate
Est payment: $1,497.86
Fees in APR: $1,825
 
 
30 yr fixed Mortgage Loan from Ally Bank
Ally Bank
https://www.brimg.net/system/img/inst/10271_logo.gif
300000
Refinance
4.380
4.375
USD
Ally Bank Logo
NMLS # 181005
at 0.000 pts
45 day lock rate
Est payment: $1,497.86
Fees in APR: $194
Thanks for the inquiry! 
 
30 yr fixed Mortgage Loan from JG Wentworth Home Lending
JG Wentworth Home Lending
https://www.brimg.net/system/img/inst/10054_logo.gif
300000
Refinance
4.258
4.250
USD
JG Wentworth Home Lending Logo
NMLS # 2925
State Lic # MC-1875
at 0.000 pts
45 day lock rate
Est payment: $1,475.82
Fees in APR: $299
 
 
30 yr fixed Mortgage Loan from Sebonic Financial
Sebonic Financial
https://www.brimg.net/system/img/inst/8420_logo.gif
300000
Refinance
4.240
4.240
USD
Sebonic Financial Logo
NMLS # 66247
State Lic # MC-1825
at 0.000 pts
30 day lock rate
Est payment: $1,474.06
Fees in APR: $2
Thank you for your inquiry, we will be in touch shortly. 
 
30 yr fixed Mortgage Loan from First Midwest Bank
First Midwest Bank
https://www.brimg.net/system/img/inst/10612_logo.gif
300000
Refinance
3.863
3.750
USD
First Midwest Bank Logo
NMLS # 423112
at 1.375 pts
60 day lock rate
Est payment: $1,389.35
Fees in APR: None
 
 
30 yr fixed Mortgage Loan from E-Click Lending
E-Click Lending
https://www.brimg.net/system/img/inst/4213_logo.gif
300000
Refinance
4.256
3.875
USD
E-Click Lending Logo
NMLS # 227765
State Lic # MC-5920
(877) 387 - 3899
at 2.000 pts
30 day lock rate
Est payment: $1,410.71
Fees in APR: $7,446
 
 
30 yr fixed Mortgage Loan from Sebonic Financial
Sebonic Financial
https://www.brimg.net/system/img/inst/8420_logo.gif
300000
Refinance
3.928
3.740
USD
Sebonic Financial Logo
NMLS # 66247
State Lic # MC-1825
at 1.100 pts
30 day lock rate
Est payment: $1,387.65
Fees in APR: $3,515
Thank you for your inquiry, we will be in touch shortly. 
 
30 yr fixed mtg refi Mortgage Loan from Fulton Bank, NA
Fulton Bank, NA
300000
Refinance
4.529
4.500
USD
Fulton Bank, NA
4.529%
4/16/2019
4.500%
at 0.000 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $1,007
 
 
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%
4/16/2019
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 State Department Federal Credit Union
State Department Federal Credit Union
300000
Refinance
4.432
4.375
USD
State Department Federal Credit Union
4.432%
4/15/2019
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 Citizens Bank, NA
Citizens Bank, NA
300000
Refinance
4.415
4.375
USD
Citizens Bank, NA
4.415%
4/12/2019
4.375%
at 0.000 pts
60 day lock rate
Est payment: $1,497.86
Fees in APR: $1,408
 
 
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%
4/16/2019
4.125%
at 0.000 pts
30 day lock rate
Est payment: $1,453.95
Fees in APR: $1,085
 
 
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 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 Santander Bank, N.A.
Santander Bank, N.A.
300000
Refinance
4.557
4.500
USD
Santander Bank, N.A.
4.557%
4/19/2019
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 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
 
 

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 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