Conforming Mortgage Rates and Jumbo Mortgage Rates

Conforming mortgage rates, also known as conventional mortgage rates, are mortgage rates that are for home loans under a certain dollar amount set by the Federal Housing Finance Agency. The FHFA sets loan limits by county in the U.S. and used to be $417,000 and up to 50% higher in area where home costs are high.

Since the recession of 2009 new loan limits were set through a series of legislative acts that have temporarily increased single family loan limits up to $729,750. You can find the FHFA's loan limits by county right here. Home loan limits by county.

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 Raymond James Bank, NA
Raymond James Bank, NA
300000
Refinance
4.662
4.625
USD
Raymond James Bank, NA
4.662%
2/19/2019
4.625%
at 0.000 pts
45 day lock rate
Est payment: $1,542.42
Fees in APR: $1,299
 
 
30 yr fixed mtg refi Mortgage Loan from Fulton Bank, NA
Fulton Bank, NA
300000
Refinance
4.686
4.625
USD
Fulton Bank, NA
4.686%
2/19/2019
4.625%
at 0.375 pts
60 day lock rate
Est payment: $1,542.42
Fees in APR: $1,007
 
 
30 yr fixed mtg refi Mortgage Loan from State Department Federal Credit Union
State Department Federal Credit Union
300000
Refinance
4.557
4.500
USD
State Department Federal Credit Union
4.557%
2/18/2019
4.500%
at 0.000 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $2,000
 
 
30 yr fixed mtg refi Mortgage Loan from Citizens Bank, NA
Citizens Bank, NA
300000
Refinance
4.665
4.625
USD
Citizens Bank, NA
4.665%
2/15/2019
4.625%
at 0.000 pts
60 day lock rate
Est payment: $1,542.42
Fees in APR: $1,408
 
 
30 yr fixed mtg refi Mortgage Loan from Virginia Credit Union
Virginia Credit Union
300000
Refinance
4.465
4.375
USD
Virginia Credit Union
4.465%
2/19/2019
4.375%
at 0.500 pts
45 day lock rate
Est payment: $1,497.86
Fees in APR: $1,650
 
 
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 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 Bank of America
Bank of America
300000
Refinance
4.238
4.125
USD
Bank of America
4.238%
2/20/2019
4.125%
at 0.913 pts
60 day lock rate
Est payment: $1,453.95
Fees in APR: $1,289
 
 
30 yr fixed mtg refi Mortgage Loan from Apple Federal Credit Union
Apple Federal Credit Union
300000
Refinance
4.470
4.375
USD
Apple Federal Credit Union
4.470%
2/20/2019
4.375%
at 1.000 pts
60 day lock rate
Est payment: $1,497.86
Fees in APR: $352
 
 
30 yr fixed mtg refi Mortgage Loan from Northwest Federal Credit Union
Northwest Federal Credit Union
300000
Refinance
4.545
4.500
USD
Northwest Federal Credit Union
4.545%
2/20/2019
4.500%
at 0.500 pts
45 day lock rate
Est payment: $1,520.06
Fees in APR: $79
 
 
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%
2/21/2019
4.250%
at 0.250 pts
60 day lock rate
Est payment: $1,475.82
Fees in APR: $853
 
 

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.






These home limits are used by government sponsored enterprises like Freddie Mac and Fannie Mae as a guide to by mortgages from banks and mortgage lenders after the loans are made. Freddie Mac and Fannie Mae do not make loans directly, they only buy mortgages from approved lenders.

The process of buying mortgages from mortgage lenders and banks replenishes their supply of funds and enables lenders to make more mortgage loans to other borrowers. Thus providing liquidity to the mortgage market and lowering mortgage rates.

Jumbo Mortgage Rates


Jumbo mortgage rates are are for home loans that are above conforming home loans. Jumbo mortgage rates are always a little bit higher than conforming mortgage rates because mortgage lenders and banks do not have the guarantee that Freddie Mac or Fannie Mae will buy their loans.

As a result lenders have to sell the mortgages to third party investors and those investors require a little premium because of the risk. During the financial crisis jumbo mortgage rates were about 2.00 percent higher than conforming mortgage rates.

Direction of Mortgage Rates in 2010


The direction of both conforming mortgage rates and jumbo mortgage rates will be higher in 2010. The Boston Federal Reserve President, Eric Rosengren, believes 30 year mortgage interest rates will rise by .75 percent by the end of the first quarter because the Federal Reserve will have completed its $1.25 trillion program of buying mortgage-backed securities.

The $1.25 trillion program was started last year to provide much needed liquity to the mortgage market and to drive mortgage rates down to help the housing market recover.  Now the Fed is winding down the program if mortgage rates do increase by .75 percent that would bring 30 year mortgage rates towards 6.00 percent.
 
 
Author: Brian McKay
January 12th, 2010
Posted in: Mortgage Rates