Mortgage Rates Rise as Home Price Increases Slow
Lenders continue to increase mortgage rates this week as home price increases are cooling. Average 30 year mortgage rates today are at 3.56 percent, an increase from last week's average 30 year mortgage rate of 4.47 percent. The most recent home price report released by CoreLogic showed home prices increasing 12.7 percent year over year in July.
Home Price Increases SlowingAnother report that included data for the month of August released by Clear Capital showed home prices increasing only 10.2 percent. The National Association of Realtors released a report showing contracts to buy existing homes dropped 1.3 percent in July, the largest monthly decline in 2013.
Lender
APR
Rate
Cost & Fees
Notes
Thank you for your quote.
The Guilford Savings Bank
4.542%
2/15/2019
4.500%
at 0.250 pts
60 day lock rate Est payment: $1,520.06
Fees in APR: $719
Savings Bank of Danbury
4.523%
2/15/2019
4.500%
at 0.000 pts
60 day lock rate Est payment: $1,520.06
Fees in APR: $790
Citizens Bank, NA
4.550%
2/15/2019
4.500%
at 0.250 pts
60 day lock rate Est payment: $1,520.06
Fees in APR: $998
UniBank for Savings
4.786%
2/15/2019
4.750%
at 0.250 pts
60 day lock rate Est payment: $1,564.94
Fees in APR: $500
Liberty Bank
4.419%
2/15/2019
4.375%
at 0.250 pts
60 day lock rate Est payment: $1,497.86
Fees in APR: $814
Union Savings Bank
4.649%
2/15/2019
4.625%
at 0.000 pts
60 day lock rate Est payment: $1,542.42
Fees in APR: $852
TD Bank, NA
4.405%
2/20/2019
4.375%
at 0.000 pts
45 day lock rate Est payment: $1,497.86
Fees in APR: $1,043
First National Bank of Omaha
4.815%
2/21/2019
4.750%
at 0.500 pts
60 day lock rate Est payment: $1,564.94
Fees in APR: $752
Santander Bank, N.A.
4.683%
2/21/2019
4.625%
at 0.000 pts
60 day lock rate Est payment: $1,542.42
Fees in APR: $2,004
The Washington Trust Company
4.280%
2/19/2019
4.250%
at 0.000 pts
30 day lock rate Est payment: $1,475.82
Fees in APR: $1,083
United Bank
4.401%
2/19/2019
4.375%
at 0.000 pts
30 day lock rate Est payment: $1,497.86
Fees in APR: $911
LincolnWay Community Bank
4.406%
2/19/2019
4.375%
at 0.000 pts
30 day lock rate Est payment: $1,497.86
Fees in APR: $1,085
Bank of America
4.373%
2/18/2019
4.250%
at 0.998 pts
60 day lock rate Est payment: $1,475.82
Fees in APR: $1,351
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. The double digit price increases of 2012 and 2013 are not sustainable so the slowing down of home price increases come as no surprise. In the coming months, home price increases will fall back to the single digits, probably in a range of 8 percent and even lower in 2014. The historical norm for home price increases is around 1 percent above the rate of inflation. Low Inflation Will Keep Home Prices Increase in Single DigitsThe current inflation rate is 1.7 percent and the Federal Reserve's long term goal for inflation is around 2.00 percent. In the coming years home price increases will fall to around 3.00 percent. The one factor that could slow the rate of growth for home prices is sharply higher mortgage rates. ![]() Mortgage Rates Today on Jumbo LoansJumbo mortgage rates today on 30 year loans are averaging 4.79 percent, an increase from the previous week's average 30 year jumbo rate of 4.69 percent. In our rate database for 30 year jumbo loans we see lenders quoting jumbo rates as low as 4.00 percent with mortgage points and as low as 4.375 percent with zero points. Today's mortgage rates on 15 year jumbo loans are averaging 4.13 percent, up from the prior week's average 15 year jumbo rate of 4.04 percent. Right now the lowest 15 year jumbo refinance rates available in our database are much lower at 3.675 percent with points and at 3.75 percent with no points. Current Adjustable Mortgage RatesAverage 5 year conforming adjustable mortgage rates are at 3.64 percent, up from last week's average 5 year adjustable mortgage rate of 3.52 percent. The lowest 5 year adjustable refinance rates in our database are over 100 basis points lower at 2.375 percent with points and at 2.60 percent with no points. 5 year jumbo adjustable mortgage rates currently are averaging 3.24 percent, which is lower then last week's average 5 year jumbo adjustable rate of 3.30 percent. The lowest 5 year jumbo refinancing rates in our database right now are at 2.60 percent with no points. |
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