Mortgage Rates Decline: 30 Year Conforming Rates Fall Below 4.00%

Mortgage Rates Decline 30 Year Conforming Rates Fall Below 400After many weeks of higher average mortgage rates, this week average rates have finally declined. 30 year conforming mortgage rates which spent the past two weeks above 4.00 percent have declined to 3.94 percent, down from last week's average rate of 4.03 percent. Average 30 year rates hit a recent high of 4.16 percent on June 5 and have fallen 22 basis points.

Average rates are lower because 10 year bond yields have also fallen from recent highs. The recent high for 10 year bond yields was at 2.25 percent and on Friday the 10 year yield closed at 2.14 percent. Mortgage rates will also move lower over the weekend and early next week. 30 year conforming rates will probably fall to 3.85 percent.

Loan Type
Purchase    Refinance
Location
State/City    Zip Code
Loan Amt Points FICO % Down
  
$
in 95816, 2, 740    Sort by:
Lender
APR
Rate
Cost & Fees
Notes
 
PERIOD_FIXED_15YEARS Mortgage Loan from HomePlus Mortgage
HomePlus Mortgage
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111128.gif
300000
Purchase
3.206%
2.875%
USD
HomePlus Mortgage Logo
NMLS # 78669
09/17/2019
at 2.000 pts
30 day lock rate
Est payment: $2,054
Fees in APR: $6,995
Personal service - one point of contact from start to finish – available nights and weekends
 
PERIOD_FIXED_15YEARS Mortgage Loan from Rocket Mortgage
Rocket Mortgage
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111574.gif
300000
Purchase
3.789%
3.500%
USD
Rocket Mortgage Logo
NMLS # 3030
09/17/2019
at 2.000 pts
45 day lock rate
Est payment: $2,145
Fees in APR: $6,000
From the lender: We can close your loan in less than a month!
 
PERIOD_FIXED_15YEARS Mortgage Loan from Quicken Loans NMLS #3030
Quicken Loans NMLS #3030
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111724.gif
300000
Purchase
3.789%
3.500%
USD
Quicken Loans NMLS #3030 Logo
NMLS # 3030
09/17/2019
at 2.000 pts
45 day lock rate
Est payment: $2,145
Fees in APR: $6,000
The Better Business Bureau gives Quicken Loans and A+ for customer service.
 
PERIOD_FIXED_15YEARS Mortgage Loan from Quicken Loans NMLS #3030
Quicken Loans NMLS #3030
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111724.gif
300000
Purchase
3.789%
3.500%
USD
Quicken Loans NMLS #3030 Logo
NMLS # 3030
09/17/2019
at 2.000 pts
45 day lock rate
Est payment: $2,145
Fees in APR: $6,000
The Better Business Bureau gives Quicken Loans and A+ for customer service.
 
PERIOD_FIXED_15YEARS Mortgage Loan from HomePlus Mortgage
HomePlus Mortgage
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111128.gif
300000
Purchase
3.206%
2.875%
USD
HomePlus Mortgage Logo
NMLS # 78669
09/17/2019
at 2.000 pts
30 day lock rate
Est payment: $2,054
Fees in APR: $6,995
Personal service - one point of contact from start to finish – available nights and weekends
 
PERIOD_FIXED_15YEARS Mortgage Loan from New American Funding
New American Funding
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111741.gif
300000
Purchase
3.106%
2.875%
USD
New American Funding Logo
NMLS # 6606
09/17/2019
at 1.625 pts
30 day lock rate
Est payment: $2,054
Fees in APR: $4,875
Direct lender specializing in helping you save money on your home loan.
 
PERIOD_FIXED_15YEARS Mortgage Loan from Apple Financial Network, Inc
Apple Financial Network, Inc
https:https://mortgagerates.icanbuy.com/images/lenderslogos/112378.gif
300000
Purchase
3.180%
2.875%
USD
Apple Financial Network, Inc Logo
NMLS # 1846010
State Lic # 01527337
09/17/2019
at 1.500 pts
30 day lock rate
Est payment: $2,054
Fees in APR: $6,552
Be ready to buy. Get pre-approved by a local lender
 
PERIOD_FIXED_15YEARS Mortgage Loan from Rocket Mortgage
Rocket Mortgage
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111574.gif
300000
Purchase
3.789%
3.500%
USD
Rocket Mortgage Logo
NMLS # 3030
09/17/2019
at 2.000 pts
45 day lock rate
Est payment: $2,145
Fees in APR: $6,000
From the lender: We can close your loan in less than a month!
 

Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click here for more information on rates and product details.






The recent run-up in rates has caused loan demand for refinancing to drop off a cliff but the recent drop in refinance rates should spur demand again. Homeowners who thought they missed the boat on a refinance since 30 year rates moved above 4.00 percent will jump at the chance to refinance to a rate below 4.00 percent.

Mortgage rates today on 15 year conventional loans are moving back down toward 3.00 percent. The average 15 year mortgage rate is at 3.07 percent, down from last week's average rate of 3.18 percent. By Monday morning, average 15 year rates will probably be back below 3.00 percent since 10 year bond yields declined 5 basis points on Friday.

Current jumbo mortgage rates on 30 year loans bucked the downtrend and moved higher this week over last. The current average 30 year jumbo mortgage rate is at 4.35 percent, an increase from the previous week's average 30 year jumbo mortgage rate of 4.29 percent. 30 year jumbo rates will fall to around the 4.25 percent range early next week.

Average 15 year jumbo mortgage interest rates were also higher this week over last. 15 year jumbo mortgage rates today are averaging 3.68 percent, an increase from last week's average 15 year rate of 3.64 percent. This coming week average 15 year rates will fall back below 3.65 percent.

Adjustable mortgage rates which are less affected by long term bond yields haven't moved much higher the past several weeks. This past week, average 5 year conforming adjustable rates increased slightly to 2.82 percent, up from the prior week's average rate of 2.79 percent. Average 5 year jumbo mortgage rates declined 1 basis point this week to 2.98 percent, down from last week's average rate of 2.99 percent.

 
 
 
Author: Brian McKay
June 15th, 2013
Posted in: Mortgage Rates