Higher Mortgage Rates Cool Demand for Home Loans

Higher mortgage rates have cooled demand for home loans for both home purchases and homeowners refinancing a current loan. Both conforming and jumbo mortgage rates on 30 year loans are higher in this week's Mortgage Application Survey released by the Mortgage Bankers Association.

The average contract rate on 30 year conforming mortgage loans increased to 3.67 percent for the week ending January 25, 2013, up from the prior week's average 30 year mortgage rate of 3.62 percent. The average 30 year contract mortgage rate is now at the highest point since September 2012. Average points on 30 year loans decreased slightly to 0.42, down from the prior week's average of 0.43 point.

Loan Type
Purchase    Refinance
Location
State/City    Zip Code
Loan Amt Points FICO % Down
  
$
30 yr fixed refi in 06101, All points, Credit score: 740+     Sort by:
Lender
APR
Rate
Cost & Fees
Notes
 
30 yr fixed Mortgage Loan from Northpointe Bank
Northpointe Bank
https://www.brimg.net/system/img/inst/10077_logo.gif
300000
Refinance
4.227
4.125
USD
Northpointe Bank Logo
NMLS # 447490
at 0.100 pts
30 day lock rate
Est payment: $1,453.95
Fees in APR: $3,350
Thank you for your inquiry! 
 
30 yr fixed Mortgage Loan from Ally Bank
Ally Bank
https://www.brimg.net/system/img/inst/10271_logo.gif
300000
Refinance
4.354
4.250
USD
Ally Bank Logo
NMLS # 181005
(877) 252 - 6146
at 0.100 pts
45 day lock rate
Est payment: $1,475.82
Fees in APR: $3,395
Thanks for the inquiry! 
 
30 yr fixed Mortgage Loan from CF Bank
CF Bank
https://www.brimg.net/system/img/inst/10390_logo.gif
300000
Refinance
4.049
4.000
USD
CF Bank Logo
NMLS # 409132
(877) 388 - 5173
at 0.100 pts
45 day lock rate
Est payment: $1,432.25
Fees in APR: $1,484
Thanks for the inquiry! 
 
30 yr fixed Mortgage Loan from Sebonic Financial
Sebonic Financial
https://www.brimg.net/system/img/inst/8420_logo.gif
300000
Refinance
4.079
3.990
USD
Sebonic Financial Logo
NMLS # 66247
State Lic # ML-66247
(877) 388 - 9170
at 0.100 pts
30 day lock rate
Est payment: $1,430.52
Fees in APR: $2,885
Thank you for your inquiry, we will be in touch shortly. 
 
30 yr fixed Mortgage Loan from CIT Bank
CIT Bank
https://www.brimg.net/system/img/inst/10026_logo.gif
300000
Refinance
4.784
4.700
USD
CIT Bank Logo
NMLS # 541760
(877) 366 - 5354
at 0.100 pts
45 day lock rate
Est payment: $1,555.91
Fees in APR: $2,582
Thank you for your inquiry! We look forward to working with you. 
 
30 yr fixed Mortgage Loan from HomeDirect Mortgage
HomeDirect Mortgage
https://www.brimg.net/system/img/inst/10447_logo.gif
300000
Refinance
4.267
4.125
USD
HomeDirect Mortgage Logo
NMLS # 403501
at 1.000 pts
30 day lock rate
Est payment: $1,453.95
Fees in APR: $2,046
 
 
30 yr fixed Mortgage Loan from Citibank, N. A.
Citibank, N. A.
https://www.brimg.net/system/img/inst/8189_logo.gif
300000
Refinance
4.796
4.750
USD
Citibank, N. A. Logo
NMLS # 412915
(877) 385 - 1690
at 0.000 pts
60 day lock rate
Est payment: $1,564.94
Fees in APR: $1,590
 
 
30 yr fixed Mortgage Loan from Ally Bank
Ally Bank
https://www.brimg.net/system/img/inst/10271_logo.gif
300000
Refinance
4.512
4.500
USD
Ally Bank Logo
NMLS # 181005
(877) 252 - 6146
at 0.000 pts
45 day lock rate
Est payment: $1,520.06
Fees in APR: $415
Thanks for the inquiry! 
 
30 yr fixed Mortgage Loan from CF Bank
CF Bank
https://www.brimg.net/system/img/inst/10390_logo.gif
300000
Refinance
4.125
4.125
USD
CF Bank Logo
NMLS # 409132
(877) 388 - 5173
at 0.000 pts
45 day lock rate
Est payment: $1,453.95
Fees in APR: None
Thanks for the inquiry! 
 
30 yr fixed Mortgage Loan from Sebonic Financial
Sebonic Financial
https://www.brimg.net/system/img/inst/8420_logo.gif
300000
Refinance
4.242
4.240
USD
Sebonic Financial Logo
NMLS # 66247
State Lic # ML-66247
(877) 388 - 9170
at 0.000 pts
30 day lock rate
Est payment: $1,474.06
Fees in APR: $56
Thank you for your inquiry, we will be in touch shortly. 
 
30 yr fixed Mortgage Loan from HomeDirect Mortgage
HomeDirect Mortgage
https://www.brimg.net/system/img/inst/10447_logo.gif
300000
Refinance
4.375
4.375
USD
HomeDirect Mortgage Logo
NMLS # 403501
at 0.000 pts
30 day lock rate
Est payment: $1,497.86
Fees in APR: None
 
 
30 yr fixed Mortgage Loan from Northpointe Bank
Northpointe Bank
https://www.brimg.net/system/img/inst/10077_logo.gif
300000
Refinance
4.250
4.250
USD
Northpointe Bank Logo
NMLS # 447490
at 0.000 pts
30 day lock rate
Est payment: $1,475.82
Fees in APR: None
Thank you for your inquiry! 
 
30 yr fixed Mortgage Loan from Better Mortgage Inc
Better Mortgage Inc
https://www.brimg.net/system/img/inst/9722_logo.gif
300000
Refinance
4.069
4.000
USD
Better Mortgage Inc Logo
NMLS # 330511
State Lic # ML-330511
at 0.000 pts
30 day lock rate
Est payment: $1,432.25
Fees in APR: $2,482
Thank you for your quote. 
 
30 yr fixed Mortgage Loan from CF Bank
CF Bank
https://www.brimg.net/system/img/inst/10390_logo.gif
300000
Refinance
3.903
3.750
USD
CF Bank Logo
NMLS # 409132
(877) 388 - 5173
at 1.100 pts
45 day lock rate
Est payment: $1,389.35
Fees in APR: $2,261
Thanks for the inquiry! 
 
30 yr fixed Mortgage Loan from Sebonic Financial
Sebonic Financial
https://www.brimg.net/system/img/inst/8420_logo.gif
300000
Refinance
4.004
3.865
USD
Sebonic Financial Logo
NMLS # 66247
State Lic # ML-66247
(877) 388 - 9170
at 1.100 pts
30 day lock rate
Est payment: $1,409.00
Fees in APR: $1,712
Thank you for your inquiry, we will be in touch shortly. 
 
30 yr fixed Mortgage Loan from CIT Bank
CIT Bank
https://www.brimg.net/system/img/inst/10026_logo.gif
300000
Refinance
9.489
9.125
USD
CIT Bank Logo
NMLS # 541760
(877) 366 - 5354
at 1.100 pts
45 day lock rate
Est payment: $2,440.90
Fees in APR: $6,132
Thank you for your inquiry! We look forward to working with you. 
 
30 yr fixed mtg refi Mortgage Loan from The Washington Trust Company
The Washington Trust Company
300000
Refinance
4.280
4.250
USD
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
 
 
30 yr fixed mtg refi Mortgage Loan from United Bank
United Bank
300000
Refinance
4.401
4.375
USD
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
 
 
30 yr fixed mtg refi Mortgage Loan from TD Bank, NA
TD Bank, NA
300000
Refinance
4.405
4.375
USD
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
 
 
30 yr fixed mtg refi Mortgage Loan from Bank of America
Bank of America
300000
Refinance
4.373
4.250
USD
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
 
 
30 yr fixed mtg refi Mortgage Loan from First National Bank of Omaha
First National Bank of Omaha
300000
Refinance
4.815
4.750
USD
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
 
 
30 yr fixed mtg refi Mortgage Loan from LincolnWay Community Bank
LincolnWay Community Bank
300000
Refinance
4.406
4.375
USD
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
 
 
30 yr fixed mtg refi Mortgage Loan from Savings Bank of Danbury
Savings Bank of Danbury
300000
Refinance
4.523
4.500
USD
Savings Bank of Danbury
4.523%
2/22/2019
4.500%
at 0.000 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $790
 
 
30 yr fixed mtg refi Mortgage Loan from Union Savings Bank
Union Savings Bank
300000
Refinance
4.524
4.500
USD
Union Savings Bank
4.524%
2/22/2019
4.500%
at 0.000 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $852
 
 
30 yr fixed mtg refi Mortgage Loan from Liberty Bank
Liberty Bank
300000
Refinance
4.419
4.375
USD
Liberty Bank
4.419%
2/22/2019
4.375%
at 0.250 pts
60 day lock rate
Est payment: $1,497.86
Fees in APR: $814
 
 
30 yr fixed mtg refi Mortgage Loan from The Guilford Savings Bank
The Guilford Savings Bank
300000
Refinance
4.542
4.500
USD
The Guilford Savings Bank
4.542%
2/22/2019
4.500%
at 0.250 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $719
 
 
30 yr fixed mtg refi Mortgage Loan from Citizens Bank, NA
Citizens Bank, NA
300000
Refinance
4.550
4.500
USD
Citizens Bank, NA
4.550%
2/22/2019
4.500%
at 0.250 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $998
 
 
30 yr fixed mtg refi Mortgage Loan from Santander Bank, N.A.
Santander Bank, N.A.
300000
Refinance
4.683
4.625
USD
Santander Bank, N.A.
4.683%
2/22/2019
4.625%
at 0.000 pts
60 day lock rate
Est payment: $1,542.42
Fees in APR: $2,004
 
 
30 yr fixed mtg refi Mortgage Loan from UniBank for Savings
UniBank for Savings
300000
Refinance
4.786
4.750
USD
UniBank for Savings
4.786%
2/22/2019
4.750%
at 0.250 pts
60 day lock rate
Est payment: $1,564.94
Fees in APR: $500
 
 

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.






Current 30 year refinance rates today moved lower since the MBA report, the average 30 refinance rate is at 3.58 percent. These rates are average rates so you can easily find lenders quoting 30 year conforming mortgage refinance rates well below the average rate. You can find lenders quoting rates as low as 2.875 percent to 3.25 percent with points, In our database of 30 year rates, depending on the state.

Higher rates this week caused the MBA's Market Composite Index, a measure of mortgage loan application volume, to decline 8.1 percent on a seasonally adjusted basis from one week earlier. The Refinance Index decreased 10 percent from one week earlier and the  Purchase Index declined 2 percent from one week earlier.

The average 30 year jumbo contract rate for the week ending January 25, 2013, was at 3.95 percent, an increase from the prior week's jumbo rate of 3.85 percent. Average points on 30 year jumbo loans increased to 0.39 point, up from last week's average of 0.34 point. The lowest 30 year jumbo refinance rates in our database are also well below the MBA's average.

In the state of Connecticut, the lowest 30 year jumbo mortgage rates are at 3.625 percent with points and without points. The lowest 30 year jumbo rates in our New Jersey rate database are currently also at 3.625 percent with no points. Moving out West the lowest 30 year jumbo rates in Colorado right now are at 3.625 percent with one point and at 3.99 percent with no points.

The average contract rate on FHA mortgage loans was also higher this week at 3.48 percent, up from the prior week's average FHA mortgage rate of 3.40 percent. Average points decreased to 0.33 point, down from the previous week's average of 0.53 point. Current FHA mortgage rates are slightly higher averaging 3.51 percent but you can find lenders quoting FHA rates below the averages.

Today's mortgage rates on 15 year mortgage loans are averaging 2.92 percent, which is lower than the MBA average contract rate of 2.95 percent for the week ending January 25, 2013. In the prior week's survey, the average 15 year mortgage interest rate was lower at 2.87 percent. Average points on 15 year loans declined slightly this week to 0.38 point, down from the prior week's average of 0.39 point.

Current mortgage rates on 15 year conventional loans can be found well below the MBA average for the 25th. The lowest 15 year mortgage refinance rates in our database are around 2.25 percent to 2.50 percent with points depending on the state. The lowest rates without points right now are at 2.625 percent.
 
 
Author: Brian McKay
January 30th, 2013