Mortgage Rates Today Drop as Treasury Yields Tumble on FOMC Minutes

U.S. Treasury yields have falling sharply the past several days ever since the Federal Open Market Committee (FOMC) released the minutes from the most recent meeting. In the minutes several Fed Governors expressed concern that unless strong economic numbers are released in the near future the Fed will have to act to stimulate the economy.

The only arsenal left the Fed has is to force Treasury yields lower. 10 year bond yields have fallen from a high of 1.82 percent to a 1.64 percent. This has forced average mortgage rates lower as well. Mortgage rates today on 30 year conforming loans are down 13 basis points to 3.55 percent.

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.






Currently on our mortgage rates and refinance rates list there are many lenders offering 30 year conventional mortgage rates below the averages. Right now on our refinance rates list in Nevada there are lenders offering 30 year rates as low as 3.13 percent.

Average 15 year mortgage rates have also fallen considerably the past couple of days. Current mortgage rates on 15 year conforming loans are averaging 2.90 percent, down from an average 15 year mortgage rate of 2.98 percent.

If you live in the state of California there are lenders on our CA rates list offering 15 year mortgage rates well below the average of 2.90 percent. Right now one lender Amerisave is offering 15 year refinance rates at an incredibly low rate of 2.38 percent with 1.88 mortgage points.

Average jumbo mortgage rates have also come down the past couple of days after several week's of higher rates. Today's mortgage rates on 30 year jumbo mortgage loans are averaging 4.24 percent, down from an average 30 year jumbo mortgage rate of 4.25 percent.

Average jumbo mortgage interest rates will decline more in the coming days. In fact, all average rates will fall as bond yields keep moving lower. Right now there are lenders on our rate list offering 30 year jumbo mortgage rates below the average. In Texas, Citi is listed with 30 year jumbo refi rates at 3.38 percent with zero points, what a great deal!

Mortgage rates current on 15 year jumbo mortgages are averaging 3.44 percent, a decline from an average 15 year jumbo mortgage rate of 3.48 percent.

Currently on our 15 year jumbo mortgage rate list for the state of New York there are lenders offering lower rates. Emery Federal Credit Union is offering 15 year refinance rates at 3.00 percent with 1 mortgage point, another great deal.

Short term adjustable mortgage rates have also come down considerably over the past couple of days. Current mortgage rates today on 5 year conforming adjustable loans are averaging 2.87 percent, down from an average 5 year adjustable mortgage rate of 2.94 percent.

Current 5 year adjustable mortgage interest rates and 5 year refi rates can be found below the average. Right now on our 5 year rate table for the state of New Jersey there are lenders offering 5 year refi rates at 1.75 percent.

5 year adjustable jumbo mortgage rates today are averaging 2.82 percent, down from an average 5 year adjustable jumbo mortgage rate of 2.98 percent. Right now on our 5 year jumbo adjustable rate list for the state of Florida, Third Federal Savings and Loan is offering jumbo rates at 2.24 percent with 1 mortgage point.
 
 
Author: Brian McKay
August 24th, 2012
Posted in: Mortgage Rates