Mortgage Rates at Credit Unions Decline on News the FOMC Won’t Taper

Mortgage rates at credit unions have already started moving lower on news the Federal Open Market Committee won't taper their bond purchases. The move lower for mortgage rates is great news for those seeking to buy a home or even refinance an existing loan. Rates are already low historically speaking and since rates are headed down again, today is a very good day to lock in a rate.

Since the financial crisis and Great Recession, the FOMC has forced mortgage interest rates down to record lows to help the housing market recover. The Fed has been very successful at this and has sent 30 year conforming mortgage rates down to a record low of 3.235 percent.

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 Lending.com
Lending.com
https://www.brimg.net/system/img/inst/9139_logo.gif
300000
Refinance
4.194
4.125
USD
Lending.com Logo
NMLS # 1071
State Lic # 11040
(877) 387 - 4811
at 0.100 pts
30 day lock rate
Est payment: $1,453.95
Fees in APR: $2,156
Thank you for your inquiry, we will be in touch shortly. 
 
30 yr fixed Mortgage Loan from Northpointe Bank
Northpointe Bank
https://www.brimg.net/system/img/inst/10077_logo.gif
300000
Refinance
4.232
4.125
USD
Northpointe Bank Logo
NMLS # 447490
(877) 387 - 7830
at 0.100 pts
30 day lock rate
Est payment: $1,453.95
Fees in APR: $3,515
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
4.459
4.375
USD
Ally Bank Logo
NMLS # 181005
(877) 252 - 6146
at 0.100 pts
45 day lock rate
Est payment: $1,497.86
Fees in APR: $2,654
Thanks for the inquiry! 
 
30 yr fixed Mortgage Loan from McGlone Mortgage Group
McGlone Mortgage Group
https://www.brimg.net/system/img/inst/2125_logo.gif
300000
Refinance
4.280
4.250
USD
McGlone Mortgage Group Logo
NMLS # 3232
State Lic # 3511
(844) 365 - 0536
at 0.000 pts
45 day lock rate
Est payment: $1,475.82
Fees in APR: $1,082
Thanks for the inquiry! 
 
30 yr fixed Mortgage Loan from Citibank, N. A.
Citibank, N. A.
https://www.brimg.net/system/img/inst/8189_logo.gif
300000
Refinance
4.671
4.625
USD
Citibank, N. A. Logo
NMLS # 412915
(877) 385 - 1690
at 0.000 pts
60 day lock rate
Est payment: $1,542.42
Fees in APR: $1,590
 
 
30 yr fixed Mortgage Loan from Lending.com
Lending.com
https://www.brimg.net/system/img/inst/9139_logo.gif
300000
Refinance
4.265
4.250
USD
Lending.com Logo
NMLS # 1071
State Lic # 11040
(877) 387 - 4811
at 0.000 pts
30 day lock rate
Est payment: $1,475.82
Fees in APR: $551
Thank you for your inquiry, we will be in touch shortly. 
 
30 yr fixed Mortgage Loan from Ally Bank
Ally Bank
https://www.brimg.net/system/img/inst/10271_logo.gif
300000
Refinance
4.650
4.625
USD
Ally Bank Logo
NMLS # 181005
(877) 252 - 6146
at 0.000 pts
45 day lock rate
Est payment: $1,542.42
Fees in APR: $857
Thanks for the inquiry! 
 
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
(877) 387 - 7830
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
4.148
4.125
USD
Better Mortgage Inc Logo
NMLS # 330511
State Lic # ML-330511
at 0.000 pts
30 day lock rate
Est payment: $1,453.95
Fees in APR: $826
Thank you for your quote. 
 
30 yr fixed Mortgage Loan from Lending.com
Lending.com
https://www.brimg.net/system/img/inst/9139_logo.gif
300000
Refinance
4.034
3.875
USD
Lending.com Logo
NMLS # 1071
State Lic # 11040
(877) 387 - 4811
at 1.100 pts
30 day lock rate
Est payment: $1,410.71
Fees in APR: $2,417
Thank you for your inquiry, we will be in touch shortly. 
 
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%
2/15/2019
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 Savings Bank of Danbury
Savings Bank of Danbury
300000
Refinance
4.523
4.500
USD
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
 
 
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%
2/15/2019
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 Union Savings Bank
Union Savings Bank
300000
Refinance
4.649
4.625
USD
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
 
 
30 yr fixed mtg refi Mortgage Loan from Liberty Bank
Liberty Bank
300000
Refinance
4.419
4.375
USD
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
 
 
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%
2/15/2019
4.750%
at 0.250 pts
60 day lock rate
Est payment: $1,564.94
Fees in APR: $500
 
 
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 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 Santander Bank, N.A.
Santander Bank, N.A.
300000
Refinance
4.683
4.625
USD
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
 
 
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 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 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
 
 

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.






The 3.35 percent rate is an average rate set in November 2012. At the time you could find lenders quoting 30 year mortgage rates as low as 2.875 percent with points. When getting a loan you can "buy down" the rate by paying money upfront in the form of points. Each point is equal to 1 percent of the loan.

30 Year Mortgage Rates Today


Mortgage Rates at Credit Unions Decline on News the FOMC Won't TapperMortgage rates today on 30 year conforming loans are averaging 4.37 percent, down from an average mortgage rate of 4.55 percent set last week. Currently, on our rate tables Pentagon Federal Credit Union is quoting 30 year mortgage rates at 4.25 percent with 1.25 mortgage points.

The lowest mortgage rates on 30 year home loans on our rate table is from Aimloan.com at 3.875 percent with 1.817 mortgage points. While rates have moved higher from the all-time lows set back in November 2012, these rates are still very low historically speaking. 30 year rates will probably come down from their levels but I don't expect rates to fall as low as they were back in November.

Current Mortgage Rates on 15 Year Conforming Loans


Current mortgage rates on 15 year conforming home loans are also lower this week averaging in at 3.42 percent, down from last week's average 15 year mortgage rate of 3.57 percent. The all-time record low for 15 year mortgage rates was 2.66 percent, also in November 2012.

15 year rates are also on the decline again thanks to the Fed's decision to keep a lid on interest rates. The Fed has forced all long term interest rates lower by buying long term bonds and agency mortgage-backed securities (MBS). The Fed has been buying $40 billion a month in MBS and $45 billion a month in long term bonds.

30 Year Jumbo Mortgage Rates Today


30 year jumbo mortgage rates today are averaging 4.67 percent, down from last week's average 30 year jumbo rate of 4.84 percent. Jumbo 30 year mortgage rates have also increased since late last year. The lowest point last year for 30 year jumbo rates was at 3.94 percent. At the time some lenders including one of the biggest lenders, CitiMortgage, were quoting 30 year jumbo rates as low as 3.50 percent. These days, the lowest 30 year jumbo rates are quoted at 4.125 percent with points. PenFed Credit Unions mortgage rates on 30 year jumbo loans are quoted at 4.25 percent with 1.25 mortgage points.

Jumbo Mortgage Rates on 15 Year Loans


Average 15 year jumbo mortgage rates today are once again under 4.00 percent at 3.96 percent. This is the first time in a couple of months that 15 year rates moved under 4.00 percent. 15 year jumbo rates will continue to move down and probably fall as low as 3.75 percent in the coming weeks.

The lowest point for 15 year jumbo rates late last year was 3.18 percent. During that time lenders on our rate tables were quoting 15 year jumbo refinance rates as low as 2.875 percent with points. Currently, the lowest jumbo rates on 15 year loans are quoted by PenFed Credit Union at 3.25 percent with 1.25 points.

5 Year Conforming Adjustable Mortgage Rates


Adjustable mortgage rates on 5 year conforming loans declined this week to 3.66 percent, down from last week's average 5 year adjustable mortgage rate of 3.77 percent. The lowest point for average 5 year adjustable refinance rates in November of last year was at 2.86 percent.  At that time, we had lenders quoting 5 year adjustable refinance rates as low as 1.50 percent with points. Currently the lowest 5 year rates available on our rate table are from Roundponit mortgage company at 2.375 percent with points. PenFed Credit Union is quoting 5 year adjustable rates at 2.75 percent with 1 point.

5 year Jumbo Adjustable Mortgage Rates


Today's mortgage rates on 5 year jumbo adjustable loans are still averaging below 5 year conforming rates. The current average rate is at 3.24 percent. Last week 5 year jumbo adjustable rates averaged 3.37 percent. The low point for 5 year jumbo loans late last year was just under 3.00 percent at 2.98 percent.

Searching our rate tables, the lowest quoted 5 year jumbo adjustable rates are from Diamond Mortgage Company at 2.625 percent with 1 mortgage point. PenFed Credit Union is quoting 5 year jumbo rates just above at 2.75 percent with 1 point.
 
 
Author: Brian McKay
September 20th, 2013