Mortgage Rates at Highest Point in 4 Months: Current 30 Year Rates at 3.42 Percent

Average mortgage rates in Freddie Mac's Primary Mortgage Market Survey moved to the highest point since September 29, 2012. Although rates moved higher in this week's survey, rates are still incredibly low historically. Current mortgage rates on 30 year conforming loans are averaging 3.42 percent with 0.7 points for the week ending January 24, 2012, an increase from the prior week's average 30 year mortgage rate of 3.38 percent.

The lowest conforming 30 year rates on our rate tables can be found as low as 2.875 percent or 3.00 percent with points depending on the state you view rates in.  There are many lenders quoting mortgage rates today below the average rates. Today's mortgage rates in the national average rate survey are slightly higher than the Freddie Mac average. The average 30 year rate is at 3.45 percent. 

15 year conforming mortgage rates averaged 2.71 percent with 0.7 mortgage points in Freddie Mac's survey for the week ending today. The average 15 year mortgage rate is up from the prior week's average of 2.66 percent. Current 15 year mortgage rates in our national rate survey are averaging 2.83 percent.

There are also many lenders quoting mortgage rates on 15 year conventional loans well below both average rates. The lowest 15 year refinance rates right now on our rate table in the state of California are at 2.25 percent with points. The lowest 15 year refinancing rates without points in CA are around 2.50 percent.

Average adjustable mortgage rates were unchanged in this week's survey for both 5 year and 1 year adjustable conforming loans. 5 year adjustable mortgage rates averaged 2.67 percent with 0.5 mortgage points. Average 1 year adjustable mortgage interest rates averaged 2.57 percent with 0.5 mortgage points.

We also have lenders quoting 5 year adjustable refinance rates well below the average Freddie Mac rate. The lowest 5 year adjustable refi rates on our rate list for the state of Colorado are from Amerisave. The lender is currently quoting 5 year adjustable rates at 1.50 percent with 1.971 points. The lowest rate without points is also from Amerisave at 2.125 percent.

Feel free to search our rate lists to find the best mortgage rates in your state. Unlike most websites, you aren't required to provide any personal information to see a list of rates.
Author: Brian McKay
January 24th, 2013
Posted in: Mortgage Rates