Refinance Rates Increase and Refinance Loans Decrease in This Week’s Mortgage Rate Survey

The demand for mortgage loans to refinance a mortgage decline this week as refinance rates moved slightly higher. Mortgage loan applications for home owners refinancing their loan decreased this week but still make up 82 percent of all loan volume. This number will drop in the coming months and years as home buyers come back and current refinance rates move higher. A new home construction report released by the Commerce Department showed a strong increase as builders started building homes at the fastest past since 2008.

Average conforming 30 year mortgage refinance rates increased in this week's Weekly Application Survey released by the Mortgage Bankers Association. Average 30 year mortgage interest rates increased to 3.57 percent with 0.44 mortgage points for the week ending October 12, 2012. The average 30 year mortgage rate is up from the previous week's average rate of 3.56 percent with 0.39 points.

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 today on 30 year conforming loans are down from the MBA survey which ended almost a week ago. Average 30 year conventional mortgage rates are at 3.46 percent in Bankrate's national average rate survey. You can find home loan lenders offering conforming 30 year refinance rates below the MBA average and Bankrate's average.

Currently on our rate table in Florida, LenderFi is offering 30 year refinance rates at 3.00 percent with 1.50 mortgage points. AmCap Funding is offering 30 year refinance mortgage rates at 3.25 percent without mortgage points. If you live in Texas we also have lenders offering 30 year rates below the averages, LenderFi is offering 30 year rates also at 3.00 percent with 1.50 points.

In the MBA survey average conforming 15 year mortgage rates were lower this week. The average 15 year rate fell 1 basis point to 2.87 percent with 0.39 points, down from the prior week's average 15 year mortgage rate of 2.88 percent with 0.40 points. Today's mortgage rates on 15 year conforming loans are lower averaging 2.84 percent.

There are dozens of lenders out there offering 15 year mortgage refinance rates that are below the average rates. These lender's rates are with points and without points but all are lower then the average 15 year rate. If you live in California we have lenders offering 15 year conventional refi rates at 2.50 percent with points and at 2.50 percent without points.

Average 30 year jumbo mortgage rates increased to 3.81 percent with 0.42 points in the MBA survey this week. Average 3o year jumbo mortgage rates were up from the prior week's average jumbo rate of 3.74 percent wtih 0.40 points. Average 30 year FHA mortgage rates in the survey remained unchanged this week at 3.34 percent with 0.82 points.

Average 5 year adjustable conforming mortgage rates decreased to 2.59 percent with 0.35 points, down from the prior week's average 5 year adjustable mortgage rate of 2.60 percent with 0.36 points. Right now on our 5 year adjustable refinance rates list for the state of Ohio you can find lenders offering rates below the average of 2.59 percent. Third Federal Savings and Loan is offering 5 year refinancing rates in Ohio at 2.24 percent with 1 mortgage point.
 
 
Author: Robert Till
October 18th, 2012
Posted in: Bank Mortgage Rates